The Hidalgo County Appraisal District conducts tax appraisals of Hidalgo County, Texas, homes. Property assessors perform market appraisals. A tax appraisal determines taxable value, while a market appraisal establishes maximum mortgage loan value. A tax appraisal is a public service performed at no cost. Market appraisals must be purchased.
Hidalgo County tax appraisals take place in accordance with the county’s schedule, and owners and buyers are not required to request an appraisal. In Texas, property taxes are “ad valorem,” meaning properties are taxed by market value, and Texas property tax code requires the county to assess taxes on homes based on their market value as of January 1 of a given year. The county reappraises homes at least once every three years. The Hidalgo County Appraisal District website includes links to information about all steps involved in the appraisal process, including a form for protesting an assessed property value.
Market appraisals in Hidalgo County are part of the home sale or refinancing process. The lender depends on an impartial market appraisal to determine the mortgage amount. Therefore, it is the lender, not the buyer or seller, who schedules the appraisal from a licensed professional. The home buyer usually pays appraisal costs, which vary depending on property size.