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Property tax season is going to be really interesting ...
#13493902
03/30/20 12:42 PM
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Joined: Sep 2005
Posts: 27,568
Uncle Zeek
OP
aka "Dad"
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OP
aka "Dad"
Joined: Sep 2005
Posts: 27,568 |
I'm waiting for Denton County to send out all the 2019 property tax notices.
Typically the counties will base the value of commercial property on the occupancy, rent, etc. as of 12/31 the prior year. So the 2020 assessments would be based on those numbers for 12/31/19. But commercial landlords are already losing some tenants, and it's almost certainly going to get worse since the 'social distancing' rules are being extended to at least April 30 (and I wouldn't be surprised if they stick around through July or later).
There's no way that the 2019 commercial property values can be justified this year if rents drop by 20-50%. And protesting with the county is going to be interesting if you can't go in person and present your evidence (yes, I know, scan everything into pdf and be prepared to email to the appraiser during a video conference). This year is going to be a doozy, and I may find myself in district court appealing quite a few values if the ARB won't be reasonable.
At least I won't be bored with nothing to do ...
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate planning & tax attorney 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 mobile zac@artimlegal.com
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Re: Property tax season is going to be really interesting ...
[Re: Uncle Zeek]
#13493919
03/30/20 12:57 PM
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Joined: Sep 2008
Posts: 121,172
hopalong
Pescador Loco
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Pescador Loco
Joined: Sep 2008
Posts: 121,172 |
just sneeze on the appraiser, that should do it for ya.
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Re: Property tax season is going to be really interesting ...
[Re: Uncle Zeek]
#13493959
03/30/20 01:36 PM
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Joined: May 2008
Posts: 3,824
donothin
TFF Team Angler
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TFF Team Angler
Joined: May 2008
Posts: 3,824 |
I bet you are right. No one has any idea of how property values will be affected. It will especially difficult for assessors who will be trying to maintain funding levels for counties, schools and cities while determining the real value of property. Home and commercial building will undoubtedly have a precipitous drop for the next several months.
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Re: Property tax season is going to be really interesting ...
[Re: Uncle Zeek]
#13493975
03/30/20 01:49 PM
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Joined: May 2014
Posts: 5,659
PondFish
TFF Celebrity
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TFF Celebrity
Joined: May 2014
Posts: 5,659 |
They will cut commercial property rates but increase residential because of all the new 'home offices' social distancing has caused.
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Re: Property tax season is going to be really interesting ...
[Re: PondFish]
#13493987
03/30/20 01:52 PM
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Joined: Sep 2005
Posts: 27,568
Uncle Zeek
OP
aka "Dad"
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OP
aka "Dad"
Joined: Sep 2005
Posts: 27,568 |
They will cut commercial property rates but increase residential because of all the new 'home offices' social distancing has caused. You may be right. I hadn't considered this.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate planning & tax attorney 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 mobile zac@artimlegal.com
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Re: Property tax season is going to be really interesting ...
[Re: Uncle Zeek]
#13494004
03/30/20 02:04 PM
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Joined: Oct 2005
Posts: 85,933
John175☮
MACHO MAN
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MACHO MAN
Joined: Oct 2005
Posts: 85,933 |
They will cut commercial property rates but increase residential because of all the new 'home offices' social distancing has caused. You may be right. I hadn't considered this. I wondered how the HOAs would treat working from home.
“Do not pray for easier lives. Pray to be stronger men.†-JFK
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Re: Property tax season is going to be really interesting ...
[Re: John175☮]
#13494008
03/30/20 02:06 PM
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Joined: May 2014
Posts: 5,659
PondFish
TFF Celebrity
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TFF Celebrity
Joined: May 2014
Posts: 5,659 |
They will cut commercial property rates but increase residential because of all the new 'home offices' social distancing has caused. You may be right. I hadn't considered this. I wondered how the HOAs would treat working from home. I meant it as a joke... but the more that I think about it....
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Re: Property tax season is going to be really interesting ...
[Re: donothin]
#13494152
03/30/20 03:26 PM
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Joined: Apr 2017
Posts: 657
gdr_11
Pro Angler
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Pro Angler
Joined: Apr 2017
Posts: 657 |
I bet you are right. No one has any idea of how property values will be affected. It will especially difficult for assessors who will be trying to maintain funding levels for counties, schools and cities while determining the real value of property. Home and commercial building will undoubtedly have a precipitous drop for the next several months. No doubt that the schools need all that funding since it is spent so wisely. Every time I drive by the local school I see the 26' box truck they bought for the band. It probably leaves the yard 6-10 times a year and just sits there the rest of the time. You can get a lot of Penske rentals for $135,000
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Re: Property tax season is going to be really interesting ...
[Re: Uncle Zeek]
#13494211
03/30/20 03:50 PM
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Joined: Feb 2008
Posts: 460
Stonebriar
Angler
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Angler
Joined: Feb 2008
Posts: 460 |
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Re: Property tax season is going to be really interesting ...
[Re: donothin]
#13494338
03/30/20 05:13 PM
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Joined: Sep 2006
Posts: 10,035
Spiderman
TFF Guru
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TFF Guru
Joined: Sep 2006
Posts: 10,035 |
I bet you are right. No one has any idea of how property values will be affected. It will especially difficult for assessors who will be trying to maintain funding levels for counties, schools and cities while determining the real value of property. Home and commercial building will undoubtedly have a precipitous drop for the next several months. I think the only thing they look at maintaining funding for counties, schools, and cities. Add that number up and dive it out among the residents. If the costs and salaries are constant then property taxes remain the same. If you can't protest it just makes their job easier!
The Truth is six of the seven Dwarfs are not Happy!
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Re: Property tax season is going to be really interesting ...
[Re: Stonebriar]
#13494382
03/30/20 05:36 PM
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Joined: Jul 2007
Posts: 50,895
Trickster
Super Freak
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Super Freak
Joined: Jul 2007
Posts: 50,895 |
Of course they would not think of cutting the appraisals. The should extend the date for protest 1st of October so we can get a gauge on what the property values will be.
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Re: Property tax season is going to be really interesting ...
[Re: Uncle Zeek]
#13494424
03/30/20 06:01 PM
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Joined: Apr 2004
Posts: 5,406
bassfishinglawyer
TFF Celebrity
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TFF Celebrity
Joined: Apr 2004
Posts: 5,406 |
yep - was an issue last year with a lot of properties in Dallas that were hit by the October tornado (but fine as of 1/1/19).
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