Lubbock Homes Are Being Overvalued, O'Connor Says

O'Connor says half of Lubbock County homes are overvalued by the local appraisal district, a gap that could raise property taxes for homeowners and strengthen tax appeal cases in 2026 and beyond. The firm also points to a sharp mismatch between local appraisal estimates and realtor-led studies of market value.

Why it matters: - O'Connor says overvaluation can translate into higher property taxes for Lubbock County homeowners. - The firm says the issue is especially important for property owners planning protests in 2027 after the 2026 deadline passed. - The gap between appraisal estimates and market studies can strengthen both informal and formal tax appeals.

What happened: - O'Connor said 50% of homes in Lubbock County are overvalued by the Lubbock Central Appraisal District. - The firm tied that claim to independent realtor studies of home sales. - O'Connor also cited a Lubbock Association of Realtors study that found county home values declined by 1%. - LCAD proposed a 4.8% increase in home values for 2026.

The details: - Lubbock County home values rose 4.8% in 2026, from $23.41 billion to $24.53 billion. - In 2025, home values increased 1.9%. - Homes under $250,000 totaled $9.99 billion after rising 2.8%. - Homes between $250,000 and $500,000 reached $9.15 billion after rising 5.2%. - Homes between $500,000 and $750,000 reached $3.02 billion after rising 6.7%. - Homes above that range rose 15.6% to $401.10 million. - Homes sized 2,000 to 3,999 square feet totaled $11.46 billion after rising 5.1%. - Homes under 2,000 square feet reached $10.60 billion after rising 4%. - Homes sized 4,000 to 5,999 square feet totaled $1.86 billion after rising 6.1%. - Luxury homes added 15.9% to $188.59 million. - New construction accounted for $3.75 billion in residential value after a 23.6% increase. - Residential value from the 2001 to 2020 construction period totaled $8.75 billion after a 1.4% increase. - Commercial property value in Lubbock County rose 9.8% in 2026 to $6.74 billion. - In 2025, commercial value increased 3.6%. - Apartments were the largest business property type at $2.39 billion after a 15.6% increase. - Raw land was the second-largest business category in value. - Offices reached $1.35 billion after a 5.2% increase. - Retail property totaled $892.62 million after a 9% increase. - Hotels surged 27.2% to $454.13 million. - Warehouses totaled $270.28 million after rising 6.2%. - Mini warehouses were the largest warehouse subtype at $178.13 million.

Between the lines: - Lubbock’s residential and commercial values are rising faster than some local market studies suggest, which can widen the dispute between taxpayers and the appraisal district. - The article frames protest filings as a routine response to that gap, especially in a year with broad value increases. - The national backdrop is different: the Federal Reserve Bank of St. Louis reported that overall U.S. commercial property value fell 7%.

What's next: - Homeowners who filed 2026 protests will wait to see whether those appeals reduce assessments. - Property owners who did not protest in 2026 may use the market-value data to support appeals in 2027. - O'Connor continues to promote its Property Tax Protection Program for owners seeking help with appeals.

The bottom line: - Lubbock property values are climbing, but the central fight is whether the appraisal district’s numbers reflect market reality.