TAD will consider freezing residential property values, 5% cap on home appraisals
The campaign promises made by the three newly elected members of the Tarrant Appraisal District board are already on the agenda.
An updated version of the agenda for the July 22 Board of Directors meeting includes items on the frequency of appraisals, setting a 5% cap on annual increases to residential taxable values and possibly freezing residential property values for tax year 2025.
Three new board members, the first elected representatives after a new law created the positions, campaigned on lowering the Legislature’s 10% cap to 5%. The cap on homesteads is designed to protect homeowners from big tax increases at a time of soaring property values.
All three of the newly elected board members were endorsed by Tarrant County Judge Tim O’Hare.
The second campaign promise from the trio was to move the yearly appraisal values to every three years instead.
An earlier version of the agenda included discussion and possible vote on “potential caps on certain property types” but did not state the 5% threshold.
Texas Tax Code sets the cap at 10%. A proposed tax relief bill in 2023 included a 5% cap, but lawmakers ultimately decided to cut school taxes and increase the homestead exemption for school district taxes.
“I try to avoid weighing in on policy as that is an issue for the board and legislature, my role is to follow the laws and policies as adopted,” Chief Appraiser Joe Don Bobbitt said in an email Wednesday following the publication of an initial story on the agenda items.
Before the election of the new board member in May, Bobbitt told the Star-Telegram that state law prohibited the board from capping or limiting appraised values at 5%.
When the Texas House considered a 5% cap as part of a tax relief package, experts told the Texas Tribune that local governments and school districts could raise their tax rates to offset the lower property values.
The meeting will take place July 22 at the Arlington ISD administration building, 690 E. Lamar Blvd.
The appraisal district sets property appraisals and administers exemptions for tax purposes.
