Biography of el paso texas property taxes
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Biography of el paso texas property taxes
El Paso's property tax rate is among the highest in the nation. Here's why.
Luis Montenegro, a pharmacist who owns a rental home west of Ascarate Park, was prepared to see an increase in his property values when he got his appraisal notices this spring.
Interest rates are at historic lows, and demand for homes is outpacing supply, pushing property values higher.
What Montenegro didn't expect was a jump in value of 48% on his modest, three-bedroom rental. The single-story brick house went from an appraised value of $68,000 to nearly $101,000.
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In response, Montenegro plans to raise the rent on tenants he’s had for the last 12 years.
“I’ve had to raise rent before, but never for this reason,” he said. “Taxes have gone up so much.”
Real estate:Buyers' bidding wars put El Paso home sales prices at record highst
The average market value of a single-family home within the El Paso city limits went up 10.9%, according to the Central Appraisal District's (CAD) most recent data.
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