Nueces County Chief Tax Assessor Ronnie Canales says the value of the property will continue to rise over the next three years.

CORPUS CHRISTI, Texas – Property taxes are rising for local property owners and more than 160,000 Corpus Christi residents will be affected.

Assessment notices will be posted between Wednesday and Thursday of this week, so residents are encouraged to be on the lookout. It’s not all bad news, however, opinions indicate the economy is doing well, according to Ronnie Canales, chief tax assessor for Nueces County.

It encourages those who are unhappy with their reviews to act quickly, and in doing so you will have the right to appeal. He also advises the community not to panic, the next steps after receiving your review notice are quite simple.

“All you have to do is make sure you can make a phone call here, before you come to this office, bring information with you, instead of just coming here, say my property isn’t worth that much” , said Canales.

Canales told 3NEWS that the reasons for the spike are due to a healthy economy and increased supply and demand. “If you drive around the city or around the county, you’ll see a lot of new construction. That means there’s a lot of new housing developments, strip malls, several apartment complexes being built there, either at the start or at the end. “

Beyond this year, he said the value of the property will continue to rise perhaps for the next two or three years.

Canales said disputes with refineries are another concern owners will have to pay. “Valero in particular, which has been in litigation for five years, and they seem unwilling to pay their fair share. But the owner, whatever he doesn’t have to pay, Valero, the owner has to get it back. Because that’s how it works.”

3NEWS has contacted Valero via email and phone several times, but they have yet to respond.

Corpus Christi Association of Realtors CEO Elke Gonzalez said the real estate market is outperforming. “Homeowners in the Coastal Bend area need to understand that they need to know the importance of filing this property exemption. So when an assessment district assesses the value of homes, by law, they cannot increase a taxable value, which is the value you’re going to be taxed at over 10%.

Gonzalez believes residents are learning the value of viewing their home as an investment. “So it’s still a great opportunity, it’s still a great time to buy a home in our area where our median home price is still just under $265,000.”

One of the most important details, however, about the economic climate surrounding homeownership is coming soon. On May 7, there will be a constitutional amendment that everyone will have the opportunity to vote on: Prop 2.

The amendment “raises the homestead exemption from $25,000 to $40,000. So we want to make sure we support this initiative because it’s something that’s good for everyone and especially homeowners.” “, González said.

It’s also important to note that if you’re 65 or older, disabled, or a disabled veteran, exemptions like these may fit into your property tax assessment.

Deadlines for protesting Nueces County assessments are between now and July. For information, click here.

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