The Grayson Central Appraisal District’s latest biennial Property Value Study audit from the Texas Comptroller was released in late January, and the findings are favorable for the local agency.
“Every two years, the property tax assistance division arm of the Comptroller’s Office performs an audit on a district’s level of appraisal and degree of uniformity to ensure adherence to appropriate standards,” GCAD Chief Appraiser Shawn Coker said in a written release. “Texas is a 100 percent market value state with a margin of error between 95-105 percent. So we want to be as accurate as we can and as close to 100 percent as possible so that we stay within this range.”
The recent audit of the comptroller found that GCAD is at an overall level of appraisal of 99 percent, with a very high level of uniformity. The results of this audit are very close to other audits in recent years. If an appraisal district falls out of the audit’s confidence interval, it could result in funding issues from the state.
The results are released across the state CADs amid some very heated debates on property tax reform. As Texas has seen its economy boom in recent years and with unemployment at record lows, housing costs have seen the demand push sales volume and sales prices higher. With appraisal districts being required to stay at market value, local appraisal notices have seen increases for several years.
“In a country where Texas ranks 46th on state and local tax burden, we need to be cautious that the legislature does not make changes that send us in the other direction,” Coker said,
He said with the growth explosions in Grayson’s bordering counties of Denton and Collin, the growth and demand locally has already begun. Appraisal notices will be sent around May after the studies have been performed and they will offer a few weeks of inquiry period for interested property owners.