45% of Bexar County homes may be overvalued

By AI, Created 9:42 AM UTC, May 20, 2026, /AGP/ – About 45% of residential properties in Bexar County could be appraised above market value, according to O’Connor’s review of BCAD data. The finding comes as home values dipped slightly in 2026 even as local sales data showed prices rising, a gap that could fuel more property tax protests in San Antonio.

Why it matters: - Bexar County homeowners who are overassessed can lower their property tax bills by filing protests with the Bexar Appraisal District. - The gap between appraisal data and recent sales suggests many taxpayers may have a strong basis to challenge 2026 valuations. - Rising commercial values also matter because they can shape the broader tax base in San Antonio and surrounding areas.

What happened: - O’Connor said about 45% of Bexar County homes could be overvalued when compared with recent home sales. - BCAD appraised county residential values as down 0.4% in 2026, following 2.2% growth in 2025. - San Antonio realtors found that home sales at the start of 2026 were up 14.3% in value, not down. - Commercial property values in Bexar County rose 4.2% in 2026.

The details: - Homes under $250,000 fell 2.7% and totaled $52.50 billion. - Homes valued between $250,000 and $500,000 rose 0.1% to $84.55 billion. - Homes worth more than $1.5 million gained 6.5% to $6.53 billion. - Homes under 2,000 square feet totaled $81.23 billion after a 1.5% decline. - Homes between 2,000 and 3,999 square feet reached $90.28 billion after a 0.1% increase. - Homes sized 4,000 to 5,999 square feet increased 16.1% to $1.75 billion. - Homes sized 6,000 to 7,999 square feet rose 1.4% to $11.74 billion. - Homes larger than that, described as true mansions, climbed 3.4% to $1.98 billion. - New residential construction increased 16.5% to $21.96 billion, about 12% of total home value. - Residential value from homes built between 2001 and 2020 fell 2.1% to $69.61 billion. - Homes built from 1981 to 2000 dropped 1.97% to $41.18 billion. - The oldest homes in the county fell 3.5% to $25.51 billion. - Raw land also declined 1%. - Apartments remained the largest slice of commercial value, rising 3.8% to $23.09 billion. - Retail climbed 8.3% to $8.83 billion. - Offices increased 3.1% to $7.96 billion. - Warehouses jumped 11.8% to $2.11 billion. - Hotels and raw land rose 2.1% and 1.3%, respectively. - Business properties worth over $5 million rose 4.3% to $40.51 billion. - Properties worth $1 million to $5 million increased 2.8% to $9.70 billion. - Properties worth $500,000 to $1 million climbed 1.9% to $2.19 billion. - The smallest business properties edged up 0.8%. - BCAD valued apartments built from 2001 to 2020 at $11.57 billion after a 1.1% increase. - Apartment value built from 1981 to 2000 reached $5.22 billion, also up 1.1%. - New apartment construction surged 24.2% to $3.04 billion. - Multifamily housing totaled $18.16 billion, high-rise apartments reached $4.37 billion, and small apartments totaled $568.38 million. - Office buildings reached $5.81 billion and medical offices hit $2.16 billion. - Strip centers led retail at $2.81 billion, followed by community shopping centers at $2.19 billion. - Neighborhood shopping centers rose 10.8% to $1.99 billion, and retail stores climbed 12.8% to $1.03 billion. - Hybrid warehouses totaled $1.02 billion, high-rise warehouses reached $823.54 million, and mini warehouses totaled $263.27 million. - O’Connor said property owners can enroll in its Property Tax Protection Program with no upfront fee unless taxes are reduced.

Between the lines: - BCAD values are based on prior sales records, so they can lag a fast-moving market. - The 14.3% rise in early-2026 sales points to a potential mismatch between appraisals and current market conditions. - National commercial property values have fallen 7% over the past few years, which makes Bexar County’s 4.2% gain stand out. - That divergence could support more protest filings from both homeowners and businesses.

What’s next: - Homeowners and businesses are likely to keep filing annual appeals if they believe BCAD valuations are behind the market. - If sales remain stronger than appraisals, taxable values could rise in future assessment cycles. - O’Connor is encouraging property owners to pursue protests through its Property Tax Protection Program.

The bottom line: - Bexar County’s 2026 appraisal picture is mixed, but the biggest takeaway is a likely overvaluation problem in residential property that could keep driving tax protests.**