Bell County’s property values were certified at $11.67 billion, up from $10.48 billion in 2006. The actual market value of property in the county is about $14 billion, according to Marvin Hahn, chief appraiser for the Bell County appraisal district. However, special valuations on agricultural lands and homestead exemptions decrease the net taxable value to the $11.67 billion.
Of the county’s 11.31 percent increase, Hahn said 60 percent of that represents new properties. The remaining 40 percent comes from increased property values.
“That’s due to a higher demand for properties and the fact that properties continue to sell well,” he said of increased values.
Hahn said the housing market has shown some signs of slowing down.
“The houses are on the market for a little bit longer, but the economy is still extremely robust here in Central Texas,” he said.
That robustness is evident especially on the western side of the county, which showed growth in the double-digit percentage points. Nolanville certified tax roll values increased by 36.35 percent with a growth from $83.2 million to $113.5 million in 2007.
Harker Heights property values increased by 16.59 percent with its increase sending it over the $1 billion mark. In 2007, Harker Heights property was valued at more than $1.1 billion, up from $966 million in 2006.
Killeen also showed double digit growth with a 13.43 percent increase and values growing from $3.5 billion to $3.975 billion.
Belton grew by 10 percent from $569 million to $626 million. Temple grew at 8.6 percent from $2.7 billion to $2.978 billion.
With the 27 taxing entities - comprised of cities, county, water districts and schools - receiving their certified tax rolls this week, work now can commence on setting the tax rates, which funds the entities’ budgets.
“We’re assisting them right now in calculating the effective tax rates,” Hahn said.
Those tax rates should be published during August and adopted by the entities by Sept. 1. The appraisal district should mail tax bills by Oct. 1. To avoid late penalties, payments should be made by Jan. 31.
