My blogs have followed the economic downturn and I have attempted to tie them developments back to commercial real estate and Texas property tax valuations.Â Following the economic news everyday and speaking to real estate professionals I have come to the following conclusions:
1. I have found that there many spin doctors out their giving opinions that profit them and do not necessarily reflect the true state of affairs.
2. Here in Texas it is possible that we could be spared a downturn inÂ commercial rea estate values, however professionals tell me that currently there exists a disconnect between buyers and sellers.Â Additionally, credit is tight and the number on transactions are down from 2007.
3. Texas Appraisal districts will be looking for the continuing of double digit appraised value increases on their property tax tax rolls.Â I believe that trend will end either in tax 2008 or 2009.Â Property tax rolls tend to lack a year behind the reality of current economic trends.
4. After May 31 we see if the number of property tax appeals will increase over tax year 2007.