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Property Taxes

  • 1.  Property Taxes

    Posted 03-04-2021 10:39 AM
    Has anyone had success in lowering tax bills for new lease-up facilities?

    I have been successful in fighting property taxes at stabilized facilities by using a comparative spreadsheet of all similar properties.  My newest hurdle is succesfully lowering new construction taxes.  Although we have no income and can show a negative P&L, the county seems to assess all new construction the same as other stabilized Class A deals.

    I hope everyone is making a comparative spreadsheet to fight their property taxes annually or using a professional tax service!

    J.D. Blacklock
    Blacklock Storage, LLC
    Fort Worth TX
    (254) 717-0229 (cell)

  • 2.  RE: Property Taxes

    Posted 03-08-2021 10:43 AM
    Yes, although I had to give P and L reports and occupancy my county accepted the lower occupancy numbers to reduce the taxes. Although I am in a small town outside of Austin they wanted to use comps from Austin.

    Jeanne Dube
    Solid Ground Storage
    Elgin TX
    (512) 281-5779

  • 3.  RE: Property Taxes

    Posted 03-18-2021 09:37 AM
    JD, are you using a property tax advisory service to fight your property taxes or are you doing yourself?  If you are using someone, who?

    John McAfee 214-923-0070

    John McAFee
    The Storage Place
    Dallas TX
    (406) 531-1330

  • 4.  RE: Property Taxes

    Posted 03-19-2021 09:31 AM
    We have had success in several counties with this.  We use a different model than we do for our stabilized facilities when putting our exhibit packets together to provide the appraisal district. 

    I think Bexar county is the only county that we ever had problems with.

    I just wish everyone, including the REITs would dispute their values with the appraisal districts.  When I pull comps and see facilities that have doubled or tripled in value and they still don't dispute the increase, it makes it harder for us to make a compelling argument.

    Sarah Cole
    Exec Admin Asst/Audit Coordinator/Marketing
    Oakcrest Management, Inc.
    Burleson TX
    (817) 426-5996