HOME VALUES DROP
Hays CAD issues new appraisals, growth makes up for drop in average value
Preliminary property appraisals show that residential values have dropped across almost the entirety of Hays County over the last year, but the drop in average property values has been offset by substantial new residential and commercial construction. The new construction caused a significant increase in the overall market value of all property across the county.
“The driving forces of property value are both economic and population growth,” Hays Central Appraisal District Chief Appraiser Laura Raven said. “As the population rises so does the demand for services, development, and employment opportunities. New improvements added to the roll contributed most to the total market value increase.”
The average market value for a residential property in Hays County decreased from $517,668 in 2024 to $477,576 in 2025, which represents a 7.7% drop. However, across the county the real estate market is experiencing significant growth, particularly in commercial and industrial sectors as well as in residential single and multi-family properties.
The overall market value of Hays County’s 2024 preliminary appraisal roll rose to $72.1 billion, an increase of 8.1% from the previous year’s value of $66.65 billion. New improvements as of January 1, 2024, contributed over $4.62 billion in market value. These improvements include 3,987 new homes and 158 other types of buildings, along with 761 enhancements to existing structures.
The addition of 115 new properties contributed to the value of commercial and industrial real property categories increasing to $9 billion in 2024, up from $7.09 billion in 2023. The value of residential multi-family properties also experienced significant growth, reaching $4.85 billion in 2024 with fifty-five new properties being added to the roll. This represents a notable increase from the previous year’s market value of $3.16 billion.
Hays CAD breaks down the residential property values by individual districts within the county. Every jurisdiction’s average residential property value dropped with the exception of those within Wimberley Independent School District.
“Property values mirror the activity of the real estate market,” Raven said. “The CAD must analyze data from mid-year of the preceding year to the first quarter of the present year, in various market areas, to determine values as of January 1st.”
Within the San Marcos Consolidated Independent School District, the average market value of residential properties stayed almost the same. In 2023, it was $379,898. That fell to $377,909 in 2024, which is a drop of about half a percent. Besides the growth seen in Wimberley, that was the smallest drop of an average market value for residential property in any of the districts in Hays County.
Within Wimberley ISD, the average market value of a residential property increased from $548,083 to $605,141, which was up more than 10%. The largest drop in average market value of a residential property was within the Dripping Springs Independent School District, which dropped from $845,263 in 2023 to $776,042 in 2024, which represents more than an 8% decrease.
Even with the drop in average market value, San Marcos saw an increase in overall market value due to new construction. The overall market value of Single Family Residential increased in San Marcos from $4.39 billion in 2023 to $4.82 billion, according to Hays CAD. The overall market value of Commercial/Industrial in San Marcos rose from $1.84 billion in 2023 to $2.33 billion in 2024.
Local taxing units rely on property tax revenues to fund essential services, including schools, emergency services, firefighting, police, libraries and more. Information regarding the tax rate setting process for each taxing unit will be accessible starting on August 7 at hays.countytaxrates. com. For further details on appraisals, appeals and exemptions, you can visit hayscad.com.
Hays Central Appraisal District scheduled the mailing of 134,174 appraisal notices for April 5, 2024. Property owners have the right to appeal decisions regarding their property appraisals to the Hays County Appraisal Review Board. The deadline for filing an appeal is May 15, 2024, or 30 days from the date your notice is mailed. Should you choose to file an appeal, the district recommends utilizing the online filing portal at www.hayscad. com, or alternatively, you may email your protest to protest@hayscad.com or mail it to Hays CAD 21001 IH 35, Kyle, Texas 78640.
