Are You Prepared to File Commercial Real Estate Appeals in Texas?

Notices of Appraised Value are being released across the state of Texas, and commercial property owners are seeing value increases across all property types. Yearly reappraisal is typical for commercial and multifamily properties in the larger metropolitan areas, including Austin, Dallas/Fort Worth, Houston, and San Antonio.

A few important dates to keep in mind include:

• Assessment Date: January 1
• Notices of Appraised Value Issued: April and May
• Appeal Deadline: May 15 (or 30 days from the date of receipt of the Notice of Appraised Value, whichever is later)
• Tax Bills Issued: October and November
• Tax Bills Due: January 31 of the following year

Texas is a nondisclosure state, and sale prices are not routinely made available to the public. Texas assessors are also bound by law to use “equal and uniform” provisions of the tax code. This provision allows values in Texas to be appealed/litigated on this basis, and the resulting value can be substantially below sales prices even if a sale is published.

Taxpayers are encouraged to reach out to our local teams with questions or to explore how we can assist. The appeal deadline is fast approaching, and the experts at Ryan can help with management and mitigation strategies for real property taxes for this year as well as recommend proactive strategies for future reassessments. Ryan has the deepest knowledge and most qualified subject matter experts across the state. Learn more about our teams.

Austin

Dallas

Houston

TECHNICAL INFORMATION CONTACT:

Jeff Tuthill
Principal
Ryan
972.934.0022
jeff.tuthill@ryan.com

The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.