Total Market Value TexasSource: Texas Comptroller, compiled by O’Connor, and not affiliated with any appraisal district.
| Billions of $ | |||||||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| $ Total Market Value | 2,952.537 | 2,808.105 | 3,033.824 | 3,244.110 | 3,473.432 | 4,035.118 | 3,957.509 | 4,335.302 | 5,295.902 | 6,081.185 | 6,418.782 |
| Single Family | 1,132.993 | 1,190.334 | 1,324.311 | 1,415.994 | 1,505.421 | 1,644.532 | 1,725.721 | 1,926.487 | 2,453.013 | 2,820.721 | 2,950.856 |
| Multi-family | 357.080 | 127.739 | 145.494 | 176.664 | 181.208 | 201.551 | 244.627 | 269.887 | 320.681 | 371.518 | 382.495 |
| Commercial | 501.983 | 588.594 | 602.405 | 636.383 | 670.292 | 667.642 | 767.956 | 813.413 | 874.275 | 973.708 | 1,033.605 |
| All Other | 960.481 | 901.438 | 961.613 | 1,015.070 | 1,116.511 | 1,521.393 | 1,219.205 | 1,325.514 | 1,647.933 | 1,915.237 | 2,051.827 |
Texas property owners should protest annually As part of maintaining their property, like a HVAC checkup.
Texas Property Tax Trends
O’Connor is one of the largest property tax consulting firms in the United States. For over 50 years, O’Connor has been the leading specialist in property taxes across Texas. Experts in both commercial and real estate taxes, the firm also boasts unmatched proficiency with cost segregation and real estate appraisals.
Texas Total Market Value of Property
Texas appraisal districts have seen a rapid growth in property values since 2018, with home prices almost doubling by the 2024 tax season. Of the over $6.4 trillion in total market value, 45.97% of that was single family homes.
Property Value Reduction By Type of Appeal Source: Texas Comptroller, compiled by O’Connor, and not affiliated with any appraisal district.
| Billions of $ | |||||||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| Total | 68.209 | 91.880 | 99.454 | 119.265 | 128.716 | 151.570 | 149.402 | 162.225 | 243.655 | 320.719 | 321.08 |
| Informal Appeal | 37.521 | 41.608 | 47.445 | 47.407 | 56.672 | 62.825 | 66.656 | 73.263 | 111.067 | 146.805 | 128.153 |
| Formal ARB Determination | 21.5470 | 35.5330 | 33.6100 | 50.6510 | 47.8730 | 62.3810 | 60.5230 | 58.1310 | 98.1750 | 131.6410 | 127.3650 |
| Judicial Appeal | 9.1420 | 14.7380 | 18.4000 | 21.2070 | 24.1720 | 26.3640 | 22.2240 | 30.8310 | 34.4130 | 42.2730 | 65.5650 |
Texas property owners should protest annually since Texas law requires property owners to protest to get information on their property and comparable sales in the area. This information is free and available upon request via U.S. mail (once you file a protest).
Texas Property Tax Value Reduction by Type of Appeal
It is imperative that every Texas homeowner appeals their property tax evaluation. It is your right under the Texas Constitution to dispute the value of your land in front of an impartial court. The appraisal districts cannot accurately judge the value of every home, and you could be paying thousands more than you should. .
In 2024, Texans had their assessed property values reduced via judicial appeal by $60.34 billion. However, that number was dwarfed by $128.15 billion for informal appeals and $127.37 billion for formal ARB determination. In total, values were reduced by almost $315.84 billion when Texans practiced their right to a property tax appeal.
Total Property Tax Savings All Protests and AppealsSource: Texas Comptroller, compiled by O’Connor, and not affiliated with any appraisal district.
| Millions of $ | |||||||||||
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
| All Property Types | 1,432.39 | 1,929.48 | 2,088.53 | 2,504.57 | 2,703.05 | 3,182.98 | 3,137.44 | 3,406.73 | 5,116.75 | 6,735.09 | 6,742.74 |
| Single Family | 220.98 | 279.33 | 328.55 | 365.29 | 381.94 | 489.25 | 538.58 | 526.92 | 1,069.79 | 1,317.48 | 1,294.54 |
| Commercial / All other | 1,211.41 | 1,650.15 | 1,759.98 | 2,139.28 | 2,321.11 | 2,693.73 | 2,598.86 | 2,879.81 | 4,046.96 | 5,417.61 | 5,448.20 |
Texas property owners should protest annually since Because it is the surest way to reduce property taxes.
Total Texas Property Tax Savings by Property Type
When judicial appeals, formal ARB determinations, and informal appeals are put together, Texans saved $6.63 billion when they chose to appeal their property taxes. 80.62% of that total was for commercial property, utilities, oil and gas, and other business types. The remaining 19.38% was for single family homes, the highest number for that category in a decade. This is at an average tax rate of 2.7%, with no exemptions applied.