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.
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Sarah Cole
Exec Admin Asst/Audit Coordinator/Marketing
Oakcrest Management, Inc.
Burleson TX
(817) 426-5996
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Original Message:
Sent: 03-04-2021 10:38 AM
From: J.D. Blacklock
Subject: Property Taxes
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!
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J.D. Blacklock
Blacklock Storage, LLC
Fort Worth TX
(254) 717-0229 (cell)
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