The overall preliminary market value of Hays County properties rose 15.7 percent this year, with a 2019 total of more than $30.3 billion, up from $25.95 billion in 2018, according to figures released Monday by the Hays Central Appraisal District (HCAD).
The steepest increase actually came in vacant lots/tracts, which shot up by 47 percent from $607 million in 2018 to $895 million. Residential multi-family property saw the second biggest increase at 38.85 percent, from $1.6 billion in 2018 to $2.3 billion in 2019. “These increases were due to strong demand for residential and commercial sites, multi-family student housing and completion of new construction,” Chief Appraiser Laura Raven said in a press release.
Commercial and industrial property rose in value by 22.68 percent, with a 2018 value of $2.38 billion growing to $2.92 billion this year. The average value of homes across the county rose by 9 percent, HCAD said. Over the past year, the county added 2,749 new homes and 87 new commercial buildings; and “total new improvements” added more than $812 million to 2019 taxable value.
