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Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. It is costing more for schools and governments to pay for services. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments.

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U.S. property taxes increased twice as fast in 2023 compared to prior year

Housing Wire

property taxes on single-family homes rose twice as fast in 2023 as they did in 2022, with a total of $363.3 This is according to an analysis conducted by Attom , based on property tax data collected from county tax assessor offices nationwide at the state, metro and county levels. billion levied compared to $339.8

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The National Average Property Tax Rate Increased Nearly 7 Percent in 2023

Appraisal Buzz

billion in property taxes were levied on single-family homes nationwide in 2023, up 6.9% growth rate in 2022 – and the largest in the past five years, the firm says in its annual property tax analysis report. The report also shows that the average tax on single-family homes in the U.S. Roughly $363.3

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Clear Capital launches APIs to make adopting modern valuations solutions easier 

Housing Wire

Real estate valuation technology company Clear Capital rolled out two application programming interfaces (APIs) that aim to make adopting and deploying modern valuation solutions easier, ultimately closing loans faster. Using automated valuation models “leads to relatively lower racial gaps,” according to Freddie Mac. .

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How the Climate Is Reshaping the U.S. Real Estate Market

Appraisal Buzz

Drawing on research that examines climate risk awareness, housing market dynamics, climate migration patterns, and demographic and socioeconomic shifts, Property Prices in Peril offers a forward-looking analysis of the Housing Price Index (HPI), property valuation trends, and localized Gross Domestic Product (GDP) impacts extending to 2055.

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Voxtur promotes Ryan Marshall to CEO

Housing Wire

Voxtur serves investor, lender, servicer and government agency clients throughout North America with offices in Tampa and Toronto. Outgoing CEO Gary Yeoman, who will remain with Voxtur as its chairman, said that Marshall is well positioned to lead the company in its efforts to innovate, grow and enhance shareholder value.

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BC Assessment vs Home Appraisals

D Fritz Appraisals

While assessments and appraisals both provide property valuations, their purpose, methods and impact on homeowners differ vastly. As property values soar and housing accessibility becomes more challenging, understanding the role of these valuations in shaping real estate decisions is more critical than ever.