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Saturday, May 25, 2013 | 2:02 p.m.

Updated: 8:57 a.m. Thursday, April 26, 2007 | Posted: 6:25 p.m. Wednesday, April 25, 2007

Property Values Up 12-16 Percent

Hundreds of thousands of Borderland residents will soon be getting their appraised value for their homes. And while homes will be worth more, your taxes will most likely be more too.

All homeowners will be receiving in the mail in the coming months notices of appraised values with higher property values. For 46 years, Jim and Carlotta Schramm have lived in the same home in northeast El Paso, and every year, they have paid their property taxes.

"They've gone way up. In other words, we went down the year before last to fight them, but it didn't do any good. Because they just say, everybody's going up, and you've gotta pay the difference," said Schramm.

Schramm would be right. They have gone up, and property values will be up again this year.

"We are experiencing about a 12 to 16 percent increase in residential property values for 2007," said Jerry Griffin, director of valuation at the El Paso Central Appraisal District.

Griffin said it's about the same type of increase El Pasoans saw last year.

"We believe it has a lot to do with the information and construction that's going on at Fort Bliss and the soldier deployment," he said.

There is some good news. Those who live in El Paso will get $5,000 off of their total house value that will be taxed by the city. Those over the age of 65 will get $30,000 off of their house value, up from $15,000 a year ago. And homestead exemptions will be capped at 10 percent of the property value increase.

For Schramm, the 65-and-older exemption is just not enough.

"If we do get a pay raise, once a year, on our annuity and so forth, it's very small compared to what we're having to put out extra every year for inflation, and taxes," said Schramm.

Schramm said he's more concerned with the average El Paso family.

"Even these people who are trying to make a living day by day, that's what hurts. These young people. Trying to make a living. Two jobs. Paying all these taxes, and it just hurts me to see that," said Schramm.

The notice of appraised values is not a tax statement, so you do not make any payments yet. A property tax bill will be mailed later this summer. If you would like to protest your appraised value, you must do so in writing, within 30 days of receiving the notice.

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