How did the Appraisal District arrive at the value of my property?
(Modified in part from Taxpayers’ Rights, Remedies & Responsibilities
as published by the Texas Comptroller of Public Accounts.)
The appraisal process begins when the Appraisal District places a value on your property
reflecting its condition and market value as of January 1. The Jefferson County Appraisal District
conducts a complete, countywide reappraisal once every two years. Reappraisals are conducted
in odd-numbered years. In between reappraisals, however, the Appraisal District may reappraise
certain properties and/or areas of the District as necessary to maintain a level of appraisals reflective
of current market values.
To save time and money, the Appraisal District uses mass appraisal techniques to appraise
the 140,000+ parcels of property within its jurisdiction. In mass appraisal, the Appraisal District
first collects detailed descriptions of each taxable property in the District. It then classifies properties
according to a variety of factors, such as size, use, and construction type. Using data from recent
property sales, the District appraises the value of typical properties in each class. Taking into
account differences such as age or location, the Districts uses the typical property values to
appraise all the properties in the class.
For individual properties, the Appraisal District may use three common methods to value property:
market, income, and cost approach.
The market approach is most often used and simply asks, "What are properties similar to this
property selling for?" The value of your home is an estimate of the price your home would sell for
on January 1. The Appraisal District compares your home to similar homes that have sold recently
and determines your home’s value.
The District uses the other methods to appraise types of properties that do not often sell, such
as utility companies and oil leases. The income approach asks, "What would an investor pay in
anticipation of future income from the property?" The cost approach asks, "How much would it cost
to replace the property with one of equal utility?"
In a reappraisal year, the Appraisal District mails out a Notice of Appraised Value to every
property owner in the District. This notice indicates the proposed value for the year, any exemptions
that may apply to you, and informs you on how to appeal if you do not agree with the valuation.
For more information on filing an appeal, called a Notice of Protest, please refer to the Section
entitled "What Can I Do If I Do Not Agree With the District’s Value?"
In between reappraisals, you will receive a Notice of Appraised Value only if the value of your
property changes, the property transfers ownership, or a rendition is filed on the property.