Residential Property Market Trends for Smith County Tax Protest

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Smith County Tax Appraisal District: A Closer Look at Residential Property

In 2024, residential properties remained a key driver of Smith County’s property market. Single-family homes accounted for over $17.99 billion in market value across 72,000+ parcels. Multi-family properties reached $1.52 billion, showing steady demand for rental housing. Additionally, vacant residential land held a market value of $543 million from nearly 20,500 parcels. These numbers highlight the strength and diversity of the local housing market.

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How Rising Interest Rates Are Affecting Property Values in Smith County

  • Residential protests increased by 5% in 2023, with over 8,660 homeowners disputing their appraised values—highlighting affordability concerns tied to rising interest rates.
  • Taxpayers saved $6 million in total, with average savings of $516 per account, as more than half of both formal and informal Smith County Tax Protest resulted in reductions.
  • High interest rates and uncertainty in 2025 slowed home sales, reduced affordability, and limited new residential construction across the region.

As rising interest rates strain affordability, more Smith County homeowners are taking action—challenging appraisals and securing real savings through Smith County Tax Protest. The trend shows no signs of slowing.

Tracking Housing Trends

  •  Smith County CAD inspects all properties at least once every three years and focuses on new construction, remodeling, and flagged areas guided by their 2023–2024 reappraisal plan and monitored by a 15-appraiser team.
  • New housing dips: Building permits for new private housing dropped from 753 units in 2023 to just 608 in 2024—a 19% decline, highlighting slowdown in construction activity
  •  Listings growing: As of May 2024, active home listings reached 2,094, up 1.7% month-over-month, while completed sales rose by 11.8%, suggesting cautious optimism in the resale market

Region`s housing stock in 2024 edged upward, while new construction lagged behind due to shifting economic dynamics.

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  • Our experienced property tax analysts prepare a personalized protest on your behalf and present it directly to the Smith County Appraisal District (Smith County CAD).
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