New Release
May 2, 2025
The Bee County Appraisal District will be mailing out notices of value next week. Notices will be mailed to all new property owners and owners whose value increased by more than $1000. Values of all properties will be available on-line in the near future and may be protested even though the value did not increase.
Bee County has seen a stabilization of home values with the increase of interest rates. Homes are on the market for a greater period of time and sales have slowed. We have yet to see a reduction in value, but we will continue to monitor trends in home sales to see if value reductions are appropriate.
This has been a year of significant change at the appraisal district with new computer software, utility and minerals appraisers, and real estate appraisers. With this much change, we know that some errors will occur, and we will gladly discuss values or other issues that taxpayers may have.
Taxpayers whose value increased will receive a blank protest form with their notice which they may complete and return to the appraisal district. Instructions will be sent along with the notice.
Commercial property owners may see some increase this year due to the results of the last Property Value Study done by the State Comptroller. That study showed that the district was not up to required levels to ensure full state funding for local schools. If commercial property owners feel that their property has been appraised beyond its likely selling price, they are encouraged to provide an income statement to the district for income producing properties such as office buildings, mini-storage buildings, hotels, and apartments. Values have been estimated using typical rents and expenses.
Another area of increases is value is noted in rural land. It is not unusual for smaller tracts of less than 20 acres to sell for well over $10,000/acre while larger tracts are selling for over $6,000. Even though the value of the land may increase, most larger tracts use the property for agricultural purposes or wildlife management, and receive an alternative method of appraisal.
Homeowners with a homestead exemption are limited to a 10% increase in their taxable value. Over 65 and disabled persons have their school taxes frozen the year after they turn 65 or become disabled and the amounts do not change unless the taxpayer adds on to their homestead. Additional benefits for homesteads is moving rapidly through the legislature with an increase in school exemption on track to move from $100,000 to $140,000. An additional exemption for over-65 and disabled persons is likely to move from $10,000 to $60,000. The changes must be approved by voters in November, but is expected to pass easily.
If a taxpayer feels that they could not sell their home or property for the amount shown on their notice, they have 30 days from the notice date to file their protest.