On a macro basis today we see the European crisis worsening and to add insult to injury news is arriving that a slowdown in China might be occurring. The conventional thinking is that a worldwide recession could be brewing. However at this particular moment in time we see commercial real estate values generally strengthening as compared to their decline during 2008-2009. With this said I believe Texas appraisal districts will be raising values on all major types of commercial real estate in 2012. Counties, cities and schools district want to see their tax rolls increase to pay for goods and services they provide.
The three most important thing commercial taxpayers should do are:
1. Plan their appeal strategy well in advance of the May 31, 2012 appeal deadline.
2. Utilizing a property tax consultant to ensure the appeal(s) are filed and pursued timely is extremely important. Providing evidence and arguments to the appraisal district staff and / or appraisal review board (ARB) is also essential.
3. Protecting of your rights for either arbitration, litigation or a SOAH Hearing after receipt of an ARB hearing notification.