Market Watch - 6 May 2022

Since last week, New Listings, Pending Properties and Closed Properties have all increased while AOC decreased. The market inverted again after mostly wobbling in April.

Property taxes had a historic jump this year. If you’re a homeowner with a Homestead Exemption (HS), look at the county’s “Market Value” or “Appraised Value” rather than the bottom line “Assessed Value.”

The HS cap is set at 10%. The county got its maximum allowable amount this year, but they set up most taxpayers to hit the cap for the next 4 to 5 years although most houses didn’t appreciate at that same rate.

Unless your home has a senior, medical or disabled veteran lock, you should probably protest. Landlords can also protest tax assessments on investment properties although there is no Homestead Exemption. Learn How to Protest Your Tax Appraisal on this blog. 

The lease market had cyclical increases in New Listings and Closed properties while there were cyclical decreases in Pending Properties. It remains inverted.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

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