SAN ANTONIO – The Bexar Appraisal District reports that the market value of area single-family homes rose 14.8 percent from 2022.
While single-family values typically rise 6 to 8 percent annually, a 14.8 percent increase is about half of what it was a year ago, Chief Appraiser Michael Amezquita said.
By law, the appraised value of a primary residence cannot be raised more than 10 percent year over year — known as the “homestead cap.”
If a home’s market value increased more than 10 percent, the “cap value” will be lower than the appraised value. The majority of Bexar County homes are capped, Amezquita said.
The average homestead-certified home surged in value from $308,460 to $342,691, an 11 percent increase. That’s also a smaller jump compared with one year earlier, when the value rose a record-breaking 23 percent, but higher than two years ago, when it increased 6.5 percent, the appraisal district’s data shows.