The Comptroller of Public Accounts has released the Appraisal District Study Report for 2024. The report evaluates appraisal performance for appraisal districts in Texas.
The study report found that the 125 appraisal districts included in the 2024 Appraisal District Ratio Study collectively met the IAAO standards across the major property categories and satisfied the acceptable median level of appraisal, falling within the required range of 95-105 percent of market value overall.
Overall, the statewide PRD ratio shows appraisal districts met the IAAO standards when averaging all property categories. Of the appraisal districts studied, 84 percent met the acceptable PRD range independently in the category of Single-Family Residential, while Multi-Family Residential was 40 percent. Commercial Real Property had 47 percent meet the acceptable range, and 36 percent met the requirements for Vacant Land and Tracts.
Appraisal districts across the state show to be consistent in the method of their appraisals through the evaluation of the COD. However, there appears to be a deficiency in these appraisals falling within the acceptable median range of market value. Two of the major property categories show a vertical inequity in appraisal values statewide: Category C1, D2 and L1 reveal a regressive level of appraisal.
The full study report can be found here. Questions can be directed to Shannon.murphy@cpa.texas.gov or 512-475-2273.
