Montgomery Co. 2024 Property Appraisals Soar

**Montgomery County Property Values Soar by $10 Billion; Homeowners Brace for Appraisal Notices**

**MONTGOMERY COUNTY, TX –** Property owners across Montgomery County are receiving their 2024 appraisal notices from the Montgomery Central Appraisal District (MCAD), revealing a significant surge in property values that reflects a robust real estate market through 2023. The total gross property value for the county has jumped by an unprecedented $10 billion, climbing from $78 billion to $88 billion.

This substantial increase is largely driven by rising market values for existing properties, which account for approximately $7.6 billion of the gain. The remaining $2.4 billion is attributed to new construction, highlighting the county’s continued growth and development. The median home value in Montgomery County saw an approximate 15% increase, propelled by high demand, limited housing inventory, and a steady influx of new residents. For example, the median appraised home value in the highly sought-after community of The Woodlands now exceeds $500,000. Areas like Conroe, Magnolia, and Willis have also seen significant appraisal hikes, albeit with varying median values.

These new appraisal values, effective as of January 1, 2024, are the foundation upon which local taxing entities—including Montgomery County, various cities (like Conroe, The Woodlands Township, Shenandoah, Oak Ridge North), local school districts (e.g., Conroe ISD, Montgomery ISD, Willis ISD), and Municipal Utility Districts (MUDs)—will calculate property tax bills for the upcoming year.

“Montgomery County continues to be one of the most desirable places to live and work in Texas, and our appraisal values reflect that strong market demand,” stated a representative for MCAD. “While these increases can be concerning for homeowners, they are a direct reflection of sales data and the overall economic health of our region.”

**Understanding Your Taxable Value and Exemptions**

While appraisal values are up, it’s critical for homeowners to understand that their actual taxable value may be limited by available exemptions. For primary residences with a homestead exemption, state law caps the annual increase in taxable value at 10%, regardless of how much the market value may have soared. This “homestead cap” provides significant protection against drastic year-over-year tax increases. Additionally, seniors (age 65 and older) and disabled individuals with specific exemptions benefit from frozen school district taxes, ensuring their school tax bill will not increase.

“It’s essential that homeowners verify they have all applicable exemptions filed with MCAD, particularly the homestead exemption for their primary residence,” advises a local property tax consultant. “These exemptions can significantly mitigate the impact of rising appraisals.”

Information on exemptions and eligibility can be found on the MCAD website: https://www.montgomerycad.org/exemptions

**Protesting Your Appraisal: The May 15 Deadline**

For property owners who believe their appraisal is inaccurate or too high, now is the time to act. The deadline to protest your appraisal with MCAD is **May 15, 2024**. Protests can be filed online, initiating an informal review process, or by requesting a formal hearing before the Appraisal Review Board (ARB).

To build a strong case for protest, homeowners should gather evidence such as:
* Comparable sales data for similar properties in their neighborhood that sold in 2023.
* Photos of any defects or needed repairs on their property that might decrease its value.
* Professional appraisal reports.
* Estimates for significant repairs.

The MCAD website provides resources and instructions for filing a protest: https://www.montgomerycad.org/protest

**Looking Ahead: Tax Rates and Public Hearings**

The actual property tax bill for 2024 will ultimately depend on the tax rates set by local taxing entities. These entities will begin their budget processes and determine their tax rates in August and September. Despite the increase in property values, entities are often pressured to lower their tax rates to avoid a windfall of revenue and to alleviate the tax burden on residents. Texas law requires taxing units to hold public hearings on proposed tax rates, offering residents an opportunity to voice their opinions.

“We understand that rising appraisals can be a concern for our residents,” commented a Montgomery County Commissioners Court representative. “As a county, we are committed to fiscal responsibility. We will carefully review our budget and consider the impact on taxpayers when setting the 2024 tax rate.”

Homeowners are encouraged to monitor announcements from their respective cities, school districts, and Montgomery County for details on upcoming budget workshops and public hearings. Information on current and historical tax rates for various entities can often be found on the Montgomery County Tax Assessor-Collector’s website: https://www.montgomerycountytx.gov/tax

As Montgomery County continues its rapid growth, the balance between funding essential services and managing property tax burdens remains a key challenge for local officials and a critical consideration for every homeowner.