WILLIAMSON COUNTY
GEORGETOWN — Williamson County’s total market value went up by almost $10 billion in 2024, according to appraisal data.
The Williamson County Central Appraisal District presented to county leaders during the Tuesday, June 4 Commissioners Court meeting in Georgetown.
Alvin Lankford, chief appraiser, said while the total market value went up from $162.4 billion in 2023 to $171.8 billion in 2024, the county is still trying to return to its 2022 shape for residential value.
“Our value is still not quite where it was in 2022,” Lankford said. “Values have definitely come down, namely because the increase in interest rates slowed the market down. Also, the builders are not building as many homes as in prior years.”
He explained residential values skyrocketed entering 2022, dipped in 2023 and then haven’t entirely caught up this year. While this year’s total residential value trails 2022 by less than a billion dollars, Lankford said 18,000 improvements projects were made in the last two years.
“There’s not as many homes being bought and sold,” Lankford added.
One statistic that is increasing across Williamson County according to the WCAD appraisal data this year is commercial value.
The commercial value, which includes existing property increase and new improvements, went from $20.4 billion in 2023 to $23.3 billion in 2024.
While Lankford said Samsung Austin Semiconductor’s initial wave in Taylor factored into the numbers, County Judge Bill Gravell said it will really come to fruition in 2025.
“The appraisal increase is only $430,000,” Gravell said. “So, it’s really negligible until next year when it starts getting into the billions.”
Lankford said 70% of the value will be in the semiconductor’s equipment once everything is in place.
Lastly, the presentation showed the difference between the county’s market value and taxable value.
According to the WCAD presentation, $133.8 billion of the $171.8 total market value is taxable this year. Factors such as exemptions and incentives influence what’s taxable.
According to Lankford, there was a $12.4 billion increase in taxable value this year.
