RE Tax Pro

[RE Tax Pro @DFWTaxAppealPro]

@BowTiedBull ~2% tax rate in Dallas

In Preston Hollow/Highland Park you’ll find homes that are on the hook for $300k-$400k in property taxes annually, maybe more

[RE Tax Pro @DFWTaxAppealPro]

@yaboymikelamar @PGATUOR 🫡

[RE Tax Pro @DFWTaxAppealPro]

@ltwombly93

[RE Tax Pro @DFWTaxAppealPro]

@yaboymikelamar Excellent!

How about Taco Tuesday though?

[RE Tax Pro @DFWTaxAppealPro]

@tyler_pagee Harris County?

[RE Tax Pro @DFWTaxAppealPro]

@EllliotttB 400+ years of experience! Incredible

[RE Tax Pro @DFWTaxAppealPro]

@JamesScottRobe3 🙏🏻

[RE Tax Pro @DFWTaxAppealPro]

@TooSoonByLoe 👋🏻

[RE Tax Pro @DFWTaxAppealPro]

@BryanJ361 The 20% cap helped you on a few!

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats Of course I missed the point! How could I have known you were suggesting an Income Tax. Clown world.

Good luck getting that approved by the people of Texas, not a simple fix at all 😂

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats Small owners benefit just as much as large owners when it comes to RE Taxes and the Non Disclosure Status of TX. I’ve seen plenty of properties assessed under $5M trade at 2-3x that value, and remain undetected/unaffected by the sale

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats What is the simple fix?

It’s an appealing claim to make 😉

As an owner, large or small, I’d rather have (some) control over the biggest expense line than hand over sale docs. I’d also like to hire an expert who’s incentived to save me money

We’re not going to agree, thats fine

[RE Tax Pro @DFWTaxAppealPro]

@DallasAptGP Wow! Hard to argue that money would be put to better use and have more of an impact locally by investing in Dallas OZs than sending to the IRS

[RE Tax Pro @DFWTaxAppealPro]

@TennisonEddie @allengilmer We’re aiming for YoY tax reductions for properties we rep in Travis/Williamson

They were by far the most aggressive CADs in the run up, with multi valued as low as 3.25% caps

Much less aggressive tone out the gate this year. They know a correction is due

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats Why wouldn’t you pay to fight? Nearly all consultants (resi & commercial focused) are paid based on % of savings. They’re incentivized to secure the lowest supportable value

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats I don’t follow. If TX was a disclosure state comm values would 20-30% higher. Pretty sure no one wants to disclose prices (barring a few recent & upcoming trades)

That might change after we see how ‘24 trades go. CADs won’t voluntarily reduce the general level of assessment tho

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats There is also “Equal & Uniform” val method

We have a statute in the TX Tax Code that limits CADs from chasing sales. Its supposed to keep assessments for comparable properties at a competitive level

Can be used for both Commercial & Residential, more effective for Commercial

[RE Tax Pro @DFWTaxAppealPro]

@BHuff5 @akm515 @texasdemocrats Commercial is valued using a Fee Simple Income Approach

W/o access to sale price data, the CADs cap rate assumptions lag the market

A site may trade at a 4.50% cap, but the CAD only has evidence to support a 5 cap

This creates a spread between market value and assessment