Let's talk about self storage.

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

How were you able to tell they were using a 6.5% cap rate?  Was there a note on the appraisal that they were using 6.5% ?

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

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Eric Olsen
Dry Dock Self Storage, LLC
Burkburnett TX
(940) 569-0002
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I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

Is anyone aware of a protest group for the Granbury area, maybe out of Fort Worth?  Prefer one you would recommend? 

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

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Eric Olsen
Dry Dock Self Storage, LLC
Burkburnett TX
(940) 569-0002
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I have had the best success by performing a Uniform and Equal analysis, which bypasses the Income Approach in a CAD valuation (no more subjective adjustments by their appraisers; no arguments).  I downloaded the entire DCAD property roll (in XLS). I picked 47 SS facilities on the (Dallas) CAD rolls that were similar to mine with regard to age, story height, climate control (or not), Quality, Condition, and Avg Unit Size.

The Common Unit for Comparison is each comp's Estimated Market Value (set by the CAD) divided by Net Leasable Area of each facility.  Note that all the categories are selected by the CAD appraisers.  You are using their data, not the Subject Property's Income and Expense, and local Cap Rates.  

Your property - by Texas Statue -must be within 10% above or below the MEDIAN Value Per Square Foot of your comps.  You are merely forcing the CAD to estimate the value of all SIMILAR self storage facilities in the county uniformly.

Texas Property Code: "(a) The district court shall grant relief on the ground that a property is appraised unequally if:

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Edward Holman
Deep Ellum Self Storage
Dallas TX
(214) 426-3337

Original Message:
Sent: 04-23-2026 10:02 AM
From: Eric Olsen
Subject: Tax Assessments

I think tssa and members should look at a new battle front with tax assessors.   Instead of individual fights over valuations, we should be looking at the cap rate used against all of us.   For the most part, the cap rate decision is made by one individual and/or a select cabal within the appraisal district office; with no public input, forum, etc.   In two counties I am aware of, they are using 6.5%.   Every .5% increase in cap would be a 7.7% decrease in assessed value!   I think there are legitimate arguments to justify an upward adjustment to the rate used as a cap rate reflects more than simple value of physical assets at a point in time (what, in theory, they are taxing us for). 

Eric Olsen

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Eric Olsen
Dry Dock Self Storage, LLC
Burkburnett TX
(940) 569-0002
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