With the preliminary Fort Bend CAD 2017 assessments now released, it appears FBCAD has accomplished what the Texas Legislature failed or refuses to do…lower your property tax bill. After several years of abusing Katy area homeowners and ramping up assessments beyond actual market values, the Fort Bend Central Appraisal District has done what many considered unthinkable, actually dropping assessed values, some by a significant margin.
For many Katy area homeowners the 2017 assessments put the values more in line with actual market values. Aside from some premier properties and locations, the 2017 FBCAD assessments look more like a reflection of the bifurcated housing market sellers are actually experiencing. As the saying goes, “Better late than never!”
There are surely some Fort Bend County residents who saw their property tax assessments continue to increase this year, but the CAD appears to have receive the message that they overshot the market in many Fort Bend County neighborhoods during the last few years.
While Senate Bill 2 continues to be a giant flop in terms of real property tax reform, many Fort Bend County residents can breath a sigh of relief, knowing they will be receiving a significant cut on their property taxes in 2017 even without the legislature’s help.