First quarter new home starts in North Texas were up almost 60 percent from the previous year and an increase is expected for the second quarter as well, according to David Brown, director of Metrostudy’s DFW office quoted in the April 6 Dallas Morning News.  It would mark the third consecutive increase in starts and could signal a recovery in home values if the trend continues.

For taxpayers it means that the current protest season, which begins in May, may be the last best opportunity to reduce their taxable value.  Waiting until 2011 may be too late because 2010 taxable values are based largely on 2009 sales.

Only about 3,500 completed new homes were vacant by March 31 compared to almost 11,000 at the start of 2007, according to the News.

Most new home starts were in North Dallas and North Fort Worth but there were more than 100 starts in Frisco and McKinney as well.  And most of the growth was in the price range up to $350,000.

My firm, Property Tax Protest ( www.propertytaxprotest.com) uses primarily 2009 market data in support of our clients’ who are seeking lower taxable values.  We now recognize that 2010 presents a unique opportunity to gain reductions that may not be available again any time soon.