FORT BEND — Most property owners in Fort Bend County will receive their 2023 Notice of Appraised Value from the Fort Bend Central Appraisal District (FBCAD) next week. The market value for residential properties increased an average of 15% from 2022 to 2023.
The market value for properties with a homestead exemption increased an average of 14.76% from 2022 to 2023. However, properties with a homestead exemption will have a 10% cap or limit on the increase of their taxable value. The overall value for commercial properties increased 18% from 2022 to 2023.
“Despite the mid-year calming of the market, real estate activity in 2022 was still very active comparable to 2019,” said Jordan Wise, Chief Appraiser. “Throughout the pandemic, Fort Bend saw an unprecedented rise in sales volume and price. This year, with rising interest rates and inflation, sales volume has dropped to pre-pandemic levels, creating a market that is more balanced than recent history. Fort Bend County is still one of the largest-gaining counties in the United States and continues to be a place where people want to be.”