The Travis Central Appraisal District sent out 2021 notices of appraisal to Travis County property owners in April for a collective $323 billion of appraised value—a 12% increase in its appraisal roll since 2019, when TCAD last updated appraisals. The increase points to a highly active Austin housing market and rapid population growth, a TCAD representative said. “That’s being driven by substantial increases in the residential market. It’s a mixed increase in commercial sectors,” said Marya Crigler, TCAD Chief Appraiser, in a May 4 presentation to Travis County commissioners. While the values for some commercial properties have decreased over the past year—those associated with industries such as hospitality and retail—office buildings have shown moderate appreciation, Crigler said. The value of residential properties, however, has skyrocketed across the board as low housing inventory collided with heightened interest in single-family homes in Austin. From January 2020 to January 2021, the level of housing inventory in Travis County reduced from 1.6 months to 0.4 months. As of March, Austin-Round Rock area home prices had hit a median $425,000, an all-time high. Consequently, residential property owners will see higher appraisals, and will likely pay a larger share of the county’s taxes than in years past. Click to read more at www.communityimpact.com.