May 15, 2006 10:33 pm US/Central
Tarrant County Growth Setting New Records
by Joel Thomas
FORT WORTH (CBS 11 News) ―
Early looks at the Tarrant County tax rolls show the county is setting records.
Workers in the Tarrant County Appraisal District have seen tax rolls jump.
"Our growth is probably among the tops not only in the state but in all the Midwest," said Chief Appraiser John Marshall of the Tarrant Appraisal District
Home construction leads the way. Homes are sold even before they're built. More than 17,000 new homes went up in Tarrant County last year. That's 2,000 more than the previous year.
County-wide property values are up 8.5%.
Westworth leads the way with 40%. Lake Worth and Lakeside grew by more than 30%. Azle and Crowley more than 15% and Fort Worth by almost 13%.
"Its gotta be because of the jobs," Marshall said. "People have a place to go to work. They've got a way to buy a house. Interest rates are still relatively low."
Assessors say the new home construction is spurring commercial growth as well. The growth is in areas not confined by old construction. So, where there are new homes, the retailers follow.
But the growth is more than just at the construction site. Natural gas values are booming too. A few years ago it was valued at just over $14-million. Now it's worth more than a billion dollars.
"I guess I've been kind of looking for the end of this cycle for several years now," Marshall said. "Not a decline but kind of a leveling off. And every year we keep breaking records as far as single family construction."
And for now assessors say the only signs point to continued growth.
(CBS 11 News)
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