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For homeowners tired of seeing their values increase, however, it's good news. About 92 percent of all residential properties will either fall in value or remain the same, said Ken Nolan, the county's chief appraiser.The Dallas Central Appraisal District will begin sending out notices to property owners Friday. Notices go out only if there is some change made to the property and/or its value. Of the roughly 374,000 residential notices to be mailed, 55 percent will reflect a decrease in value, Nolan said.On the commercial side, about 88 percent of properties will either lose value or remain unchanged, Nolan said."We haven't seen stuff like this in 20 years," he said. "It's been so long since we've lowered so many values."Last year, preliminary values rose about 13 percent. In 2007, the increase was 20 percent.This year's preliminary tax roll numbers will be released May 22, but commissioners asked Nolan to give them a preview. The county's budget shortfall this year is expected to reach $60 million, and property taxes account for slightly less than half of the county's total revenue."We've anticipated it. We haven't been blindsided by anything that was said," Commissioner John Wiley Price said after the meeting. "At the end of the day, we're not as bad as the rest of the country."The preliminary tax roll will probably show an overall increase of 1 percent to 2 percent next month, Nolan said. But after this summer's value protests, the certified roll will decrease in value, he said.How much it will fall depends on how many protests are successful. But Nolan said the commissioners were wise to plan for a 4 percent to 5 percent decrease.Last year, there were about 108,000 value protests, Nolan said. He said he expects about the same this year and possibly more. The question is whether people think their value decrease is large enough, Nolan said.Another factor that could drive protests is the fact that some homeowners Ð most likely in affluent areas and hot neighborhoods Ð could see their taxable value increase this year even though their market value declined.So there you have it, a brief overview of the Dallas home market. If you are renting an apartment in the city, be sure to visit Promove. They are area experts and provide insightful information and rental services.
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