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Laredo Times

Thursday, November 21, 2024

Many Webb County property values jump despite freeze announcement

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Despite a property value freeze in Webb County, some properties across the county will still see a major increase in their valuation.

Tax Assessor Rosie Cuellar said that the county's taxpayers needed tax relief, the Laredo Morning Times reported. However, Chief Appraiser Martin Villarreal told the newspaper that the current law required that properties had to reflect the market value from the current tax year.

“Due to certain provisions of the Texas Property Tax Code, the District is required to reflect the market value of a property as of Jan. 1 of the current tax year,” he wrote.

Because of that law, some property values have spiked exponentially, like the property owned by local farmer George Mapus. His two tracts of land nearly doubled in value despite no new improvements being made, according to the news agency.

Across from Mapus are 4.5 acres of raw brush land that jumped in value from $90,000 to $538,000, the news agency reported. Villarreal told the news agency these properties were well under the appropriate market value previously and were brought up to current market conditions. 

Property owners have until May 29 to protest the increase.

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