The appraisal district has passed this year’s Property Value Study (PVS) in all three school districts: San Saba ISD, Richland Springs ISD and Cherokee ISD. Conducted by the State Comptroller, the purposes of the study are to measure the performance of the appraisal district and equalize school funding. By comparing the appraised value to the market sales data, a ratio is derived. State law requires that appraisal districts have a ratio of 95% or greater appraised value to market value. The ratios are studied by school district within each county and school districts failing to meet the minimum 95% face loss of state funds.
The appraisal district performs its own ratio study annually to ensure that schedules used in the appraisal process are accurate based on the latest market sales data. Sales data is voluntarily reported by buyers and sellers of real property in San Saba County and analyzed comparatively to appraised values. Ratios derived from the comparison guide the changes to be made for the next tax year.
“Remaining in compliance and ensuring no loss of funding for public schools in our county is a priority for our office,” said Jan Vanderburg, Chief Appraiser.