Lubbock's good economy is the main reason appraisal values are going up. We first told you last week, the Lubbock Central Appraisal District's proposed property values for 2003 increased 11.55%. It's a steep number, that has some Lubbock County residents disputing.
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Houses come in all shapes and sizes in Lubbock, but after last week they all have something in common they're all worth more. "The increase is based on appraisals, predominately there are single family properties in Lubbock county and those properties are appraised based on what other houses that are similar to those would sell for in the area," says Appraisal Director Patrick Brown.
Brown says the increase is based on the 2002 tax rate. It gives homeowners an idea of what they'll pay this year in taxes. For example in 2002, the average value of a house in Lubbock county was $71,944. But this year that same house is worth $77, 322.
"It's slightly larger than normal, Lubbock has a very good economy. Depending on what source you use the appreciation rate has been about four to seven percent, and again keeping in mind some of this increase includes the new construction", Brown said.
But county residents filed in the appraisal office one by one Tuesday to dispute the raise. "I got our tax appraisal value in the mail and it increased dramatically and it's such a dramatic increase I felt like I should come talk to them about it," Dana Palmer said.
"Last years evaluation on the land was $12,500 this year its $138,400 I think that's a little strange that it'd raise that much in one year and I'd like to get it back down to open space," Frank Wyatt said.
Each with their own story, it's their right to dispute the appraisal increase. "Anytime you have an increase regardless of whether you are retired or not is a concern to you and I want to be able to do what needs to be done and what's right and proper but I just have a question as to whether the increase should be as high as it is," Gene Rankin says.
You have until June 23rd to dispute your appraisal, the number to call is (806) 762-5000.