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Home Value Hike Leaves Residents Unhappy

By: Amy Montalvo
Updated: April 14, 2009
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Some Lubbock residents are not happy with the home appraisals they've found in their mailboxes this week. The Central Appraisal District has so far issued 44,000 notices, informing home owners that their property value has increased.

Now, you may think it's a good thing for the value of the home to go up, but it leaves the owner stuck with even greater property taxes.The average increase was about 3%, but some homes got hit with increases as big as 20%.
 
One of those is Lubbock resident David Hoehns, "One of mine in Hunter's Glen was over 20% increase. It's a rental property that I don't make enough right now to pay the note and pay the taxes so it's a losing proposition for us."

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