Appraisal district hit with calls after property values mailed Real estate values were significantly higher than in previous years, which means homeowners may pay higher taxes. "Yesterday was pretty active," Chief Appraiser Lisa Stephens-Musick said Tuesday. "I suppose some folks were more on edge than in prior years because of media coverage." A shortage of homes on the market, a slowdown in construction caused by COVID-19, and low interest rates are among the reasons real estate values shot up. Some properties in Wichita Falls rose in value by 20 percent or more. Across Wichita County, taxable real estate was valued at $6.4 billion this year, which is up from $5.9 billion in 2020.