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• CTN is the only property tax consulting firm in 18 counties and over 6,000 companies to win
the Houston Better Business Bureau Award for Excellence Winner of Distinction in 2006 and 2007!
 2010 PROTEST DEADLINES
For homestead properties, the early protest deadline is April 30th or 30 days after
the date the appraisal district sends a notice of appraised value, whichever is later.
NEWS FLASH
2008 Forecast by Harris County Appraisal District...
More...
On March 25, 2008, during the 2008 Annual Meeting at the Harris County
Appraisal District (HCAD), the county revealed that property
tax values will be increased an average of 25% on approximately 68%
of all commercial accounts! In light of this new information,
it is essential that commercial property owners appeal their property
tax valuations in 2008.
• Cost Segregation is one of the most valuable tax-deferral strategies. It allows taxpayers to write off a greater percentage of their commercial improvements over a shorter period of time.
More...
• The deadline for filing business personal property renditions
is April 15, 2010. All business owners must file
or they will face penalties.
More...
The Texas Property Tax Code states that there will be penalties imposed
from 10 to 50% of the taxes that are owed and possible lawsuits filed
for any businesses that do not file the required annual rendition by
the deadline of April 15, 2009.
Have you been served a penalty tax statement from the appraisal
district for not filing a Business Personal Property Rendition?
If you have received a penalty statement from the appraisal district, it is
due to the new law in Texas stating that all business personal property accounts
must have renditions filed annually. We may be able to get the penalty waived and
file the 2007 and 2008 renditions for you, just give us a call!
• Property Value Notices will be coming out in the end of
April. Your property may be over assessed, so fill out our free evaluation
form and we will see what we can do for you!
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1 year and 98 days ago |
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Apartment Case Study 2
CTN saved Millennium Interests $44,515 in Taxes for Alvin Cedar Grove Apartments in a Single Year
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CLIENT PROFILE
Millennium Interests has been a client of CTN for more than 10 years.
After our market research indicated that several of their properties was
excessive, we contacted them and they agreed to allow us to attempt to
correct the error in valuation. Subsequently, they asked us to represent
them on additional properties. Since then, we have continued our
relationship in minimizing their portfolio.
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PROBLEM
The subject of this case study is an apartment complex in the city of
Alvin , Brazoria County , TX . The Appraisal District previously valued
the complex during the 2003 tax year at $2,091,420; they proposed a new
2004 valuation at $3,524,820. This was a significant increase over the
prior year's taxes.
SOLUTION
After analyzing their actual income and expenses and other pertinent
data, CTN filed an appeal. A complete analysis of the income indicated a
value of approximately $2,615,000. This took into consideration market
rents, occupancy and deferred maintenance.
Our extensive analysis of comparable assessments via the unequal
appraisal approach made it clear that our property was singled out for
this significant increase. Our research discovered that similar properties
in the immediate area with similar physical characteristics indicated a
value of $2,260,000 for the subject property.
During the hearing and thru some aggressive negotiation, we agreed on a
value of $2,320,450. This was a reduction of $1,204,370 in valuation for
the subject property. This value reduction resulted in a Tax
Savings of $44,515.
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