An increase in commercial property valuations in Travis County will compensate for a slight drop in the value of single-family homes in the county that includes Austin, according to the latest figures from the Travis Central Appraisal District. Tax notices were mailed to property owners last week.
Chief appraiser Patrick Brown said the value of commercial property — including apartments, retail businesses, and office buildings — rose 1.8% from 2009 to $23 million. The value of residential properties fell 1.6% to $68 billion.
Brown said new construction in both categories, which totaled $1.7 billion, also reduced the impact in the decline in residential valuations.
The average value of a single-family home in Travis County fell 2.8% to $270,763 from last year’s average of $287,732.
Final tax valuations will be certified this summer, after the completion of assessments of personal property owned by business, including computers and equipment, and the resolution of protests from property owners.
