Let's talk about self storage.

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  • 1.  Property Taxes

    Posted 08-05-2024 08:50 AM
    Our county is using the income approach to value our storage business. What method is your county using? 


  • 2.  RE: Property Taxes

    Posted 08-06-2024 10:13 AM
    Not every county is the same, but the income approach is definitely what I am getting hit with currently.

    It is a catch 22. If you don't get the numbers and income to them so they can tax you "appropriately" then they will hit you based on their own projections. If you do give the date to them, they can get you on their own projections. Not sure how to win this argument.

    I just hired a company based out of TX for this and they failed to get the appraisal district to budge one cent. So, I will be fighting this on my own again, going forward (and we did not supply numbers) which is what they suggest. Good luck!

    Only good thing I learned today in my call with the appraisal district is now a 20% cap on the value commercial properties can be raised - first year for this.

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    Sincerely,

    Scott Smith | Managing Partner
    Visionary Asset Management, LLC
    Self Storage Investments, Owner/Operator 

                        



     





  • 3.  RE: Property Taxes

    Posted 08-08-2024 05:43 PM

    I just need to say it...Jefferson County is the absolute worst appraisal district in the entire state.  Okay, got that off my chest.



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    Ryan McLeaird
    Jourdanton's Own Mini Storage
    San Antonio TX
    (210) 410-6215
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