Property Tax New Year Prep – Commercial Property Owners

Property Tax New Year Prep – Commercial Property Owners

The 2020 property tax season is just around the corner! Once again, we anticipate the appraisal districts will be very aggressive in setting higher values.

In order to properly value your commerical properties, at this time of year we ask for the following documents:

  • 2019 year-end income & expense statements (P&L); rent rolls and/or the unit mix & occupancy report for each of your income producing properties;
  • Any recent additions or deletions to your property portfolio;
  • Construction docs if the property is under construction or was completed within the last 18 months;
  • Information on any added capital improvements to your existing properties during the last 18 months.

To maintain confidentiality, we reformat your financial information using standard Appraisal Institute allowances and practices to maximize expenses, minimize the gross income and net operating income.

Please remember to protect the value of your property! As you may know, Texas is one of 12 non-disclosure states. Regardless of any requests to the contrary, you are not required to provide information to any Texas government entity regarding the purchase, sale or operations of a property. We also recommend the following:

  • Do not respond to any requests from the appraisal districts for information about your operations or tenants;
  • Do require confidentiality of all information from all parties to a new purchase or sale;
  • Do request that your lender omit the amount of your loan from the deed of trust.

Renditions for Business Personal Property are due on or before April 15, 2020. An automatic one-time 30-day extension is available by written request. Freeport renditions are due by April 30th with no extensions. The protest deadline for real property is May 15th.

If you are already our client, thank you for the opportunity to serve as your property tax advocate. If you are interested in letting us represent you at the appraisal district, let us know!

We are already preparing to do even better in 2020 to make our clients’ properties worthless at the appraisal districts.

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