Uvalde Property Tax Blogs - O’Connor & Associates

Uvalde Property Tax / Home Price Takeaways

• Uvalde property taxes for average priced home were on a trajectory for huge increases from December 2020 through May 2022.
• The trendline for Uvalde property taxes peaked in May 2022 and have been on a downtrend since.
• Uvalde 2023 property taxes for houses are likely to be similar to 2022 tax year based on current trends in Uvalde home sales.
• The average / median home price estimated for January 2023 will be similar to the price in January 2022.

Uvalde Home Price Takeaways

• Uvalde home prices were rocketing upward at 4% per month during 2021 and the first 6 months of 2022.
• Uvalde home prices peaked in May 2022 and have been declining at 2% per month through November.
• Uvalde home prices are likely to decline further before stabilizing.

Uvalde Home Price Inventory for Sale Summary

• Uvalde has had one of the tightest home markets with only 0.4 months of inventory for 2021 and 0.1 for the first 6 months of 2022.
• The inventory of Uvalde homes for sale has increased to about 0.5 months but is still only one third of the level considered balanced, where neither the buyer nor seller has an advantage.
• Homeowners are less likely to list homes to sell due to higher mortgage rates than most are paying. Uvalde homeowners are also trying to process the whipsaw changes in the housing market.

Property Tax Outlook

Property taxes for houses likely peaked in mid-2022. In most major metropolitan areas, year-end 2022 home prices will be similar to home prices at the end of 2021. Since property taxes are based on the January 1 value in most states, property taxes will likely be essentially flat in 2023. It is not clear if appraisal districts will increase values despite the flat trend for home values.