Message from the Chief Appraiser
As the first quarter of 2023 draws to a close, I am pleased to introduce the Tarrant Appraisal District's quarterly newsletter, which will be distributed to our esteemed partners and stakeholders. As Chief Appraiser, I set a goal some time ago to develop and send a newsletter for the purpose of transmitting information to the community. The inaugural edition will be sent to elected officials, followed by property owners in future editions. Additionally, all past copies will be available on TAD.org
The goal of this newsletter is to increase transparency and disseminate accurate news and information about property tax-related issues throughout the county. In an effort to reach as many individuals as possible, TAD, along with the City of Fort Worth, went into six different local communities in January to educate people on ways to save money on property taxes. TAD has a long history of educating civic groups and homeowner associations on the property tax system. However, disseminating information directly to taxpayers has been more of a "come and get it" approach.
Our new format aims to put useful and relevant information about property taxes, real estate forecasts, appraisal trends, upcoming deadlines, and ways of saving money directly into the hands of taxpayers and decision makers. We hope this new approach will help us achieve our goal of providing clarity and transparency regarding property taxes.
We are committed to making this newsletter informative and useful for our readers, and welcome your feedback on areas of interest. We look forward to providing you with valuable information in future editions.
If you have any suggestions or areas of concern that you would like to discuss with me directly, please do not hesitate to contact me via our online form. I look forward to hearing from you and working together to provide the best possible service to our community.
If there are other areas of interest you have, I would love to hear from you.
It is our desire to share accurate news and information about property tax related issues throughout the county.
2023 Market Outlook
As the reappraisal cycle approaches, appraisal districts throughout the state are preparing for the process, and Tarrant Appraisal District (TAD) is no exception.
TAD appraises all properties in Tarrant County as of January 1st of each year, with the condition of the property on that date serving as the basis for its appraisal. In August 2022, the Board of Directors adopted TAD's biannual reappraisal plan, which outlines the procedures for the 2023 reappraisal process.
Based on data collected from the marketplace as of January 1st, 2023, the residential real estate market in Tarrant County and North Texas remained active throughout 2022. However, in recent months, the Federal Reserve Bank has raised interest rates to control inflation, which is expected to result in a slowdown in residential and commercial sales due to higher mortgage interest rates.
While sales volume has declined during the first two months of 2023, sales prices remain high and have not fallen to January 2022 levels. TAD's average residential appraisal values as of January 2022 still fall below the average sale prices for January 2023, which necessitates a raise in residential property values.
The Texas Legislature has mandated that all appraisal districts in the state appraise taxable property at its "market value," generally defined as the sales price. Based on available market data, TAD expects residential values to increase by approximately 10-20 percent across the county.
TAD employs a mass appraisal model to appraise property, which uses mathematical models and statistics to achieve market value results with a relatively low margin of error. While TAD endeavors to be as accurate as possible, sometimes critical information about a property is unknown to staff. In such cases, TAD welcomes the opportunity to communicate with property owners to make necessary adjustments to ensure accuracy, fairness, and uniformity in its appraisal efforts.
100% on the MAP review
TAD has passed the Comptrollers 2022-23 Methods and Assistance Review Program (MAP) in all areas scoring 100% once again! Tax Code Section 5.102 requires the Texas Comptroller of Public Accounts to review each appraisal district. Each appraisal district is reviewed using a set of mandatory pass/fail questions, as well as a series of questions relating to governance, taxpayer assistance, operating procedures and appraisal standards, procedures and methodology at least once every two year. TAD received passing marks in the four mandatory areas and “meets all” in all four of the review areas with a score of 100% in the five reviews since the inception of the program. TAD has passed every MAP review since its inception in 2015.
Homestead Information
Homestead exemptions enable taxpayers to save money by reducing their tax burden. TAD encourages all residential property owners to apply for this valuable benefit. An English version of the Residence Homestead Application is available for download in the forms section of TAD.org.
For assistance you may by email or call +1 (817) 284-4063.
Learn about Homestead Exemptions
Community
Outreach
TAD teamed up with the City of Fort Worth to do six Homeowner Workshop events across Fort Worth. The free workshops for residents of Tarrant County covered the appraisal process, exemptions, and available services. The outreach started on January 25 and ran through February 15. Various neighborhood Community Centers were visited, like MLK Jr and the Handley-Meadowbrook. The goal was to educate, engage, and inform residents of Fort Worth of the tax money saving programs that are offered by TAD and the City of Fort Worth. Video recordings of the events are available on TAD's YouTube page. If residents would like TAD to come out to their neighborhood, call TAD for more information.
We are in good company
Recognized as One of Fort Worth's Best Employers for Two Years Running
Tarrant Appraisal District (TAD) has once again been recognized as a "Best Company To Work For in Fort Worth" by Fort Worth Inc. magazine, for both 2021 and 2022.
In 2021, TAD was ranked 27th overall, while in 2022, it ranked 15th among medium-sized businesses. Workforce Research Group, a third-party organization, conducts the selection process by analyzing companies throughout Fort Worth to determine which offers the best work environment as reported by employees.
TAD is honored to receive this distinction for two consecutive years, which is a testament to its commitment to fostering a positive and supportive workplace culture.