Commercial Real Estate Tax

  Property tax assessments for homes were increased by 6.7% for the tax year 2021, based on a review of 85,297 homes valued by the Fort Bend Appraisal District. Homes valued at $1 million or higher had the largest increases, average 8.4% higher than 2020. Review of 85,297 homes valued at $300,000 or indicates an increase in assessed value of $35.6 billion, up 6.6% from $37.9 billion in 2021.  Total property taxes for 2021 for homes valued over $300,000 would total $1036.5 million, based on a 2.7% tax rate before considering homestead exemptions. Fort Bend has 1508 homes valued at $1 million or higher. They are valued at $2.1 billion in 2021, up from $2 billion in 2020. Values were increased for 1,123 homes, reduced for 385 homes, and remained flat for 0 homes. Homes valued at $300,000 to 500,000 increased from $23.1 billion in 2020 to $24.7 billion in 2021, an 6.9% increase. Of the 65,992 in this price range, values were increased for 51,356, reduced for 14,611, and remained f...

  Property tax assessments for homes were increased by 4.8% for the tax year 2021, based on a review of 146,879 homes valued by the Dallas Appraisal District. Homes valued at $1 million or higher had the largest increases, average 5.4% higher than 2020. Review of 146,879 homes valued at $300,000 or indicates an increase in assessed value of $90.12 billion, up 5.2% from $94.84 billion in 2021. Total property taxes for 2021 for homes valued over $300,000 would total $2593.7 million, based on a 2.7% tax rate before considering homestead exemptions. Dallas has 18,640 homes valued at $1 million or higher. They are valued at $35.62 billion in 2021, up from $33.85 billion in 2020. Values were increased for 6,231 homes, reduced for 990 homes, and remained flat for 11,419 homes. Homes valued at $300,000 to 500,000 increased from $31.17 billion in 2020 to $32.82 billion in 2021, an 5.3% increase. Of the 87,887 in this price range, values were increased for 23,318, re...

  Most property owners believe appraisal districts should cut taxable values in 2021. 93% of Texas property owners surveyed by O’Connor thought appraisal districts should reduce values in 2021 due to the impact of COVID. Wise Appraisal District raised the overall taxable value of commercial properties by 10.2%, for the 8,143 commercial properties with 2021 values available. The 2021 increase in Wise Appraisal District taxable values is summarized below: Office             1.47% Land               6.30% Apartment     47% Taxable values were increased for 6 of 12 office buildings. The total assessed value increased to $0.0014 billion in 2021 from $0.0013 billion in 2020. The increases are surprising considering the impact of COVID on office occupancy. Land values soared 6.30%. The taxable value of vacant land rose fr...

  Property tax assessments for homes were increased by 8.2% for the tax year 2021, based on a review of 105,861 homes valued by the Bexar Appraisal District. Homes valued between $300k to $500k had the largest increases, average 8.6% higher than 2020. Review of 105,861 homes valued at $300,000 or indicates an increase in assessed value of $44.68 billion, up 9.2% from $48.47 billion in 2021. Total property taxes for 2021 for homes valued over $300,000 would total $1322.3 million, based on a 2.7% tax rate before considering homestead exemptions. Bexar has 3,322 homes valued at $1 million or higher. They are valued at $4.8 billion in 2021, up from $4.4 billion in 2020.  Values were increased for 2,586 homes, reduced for 572 homes, and remained flat for 164 homes. Homes valued at $300,000 to 500,000 increased from $27.19 billion in 2020 to $29.87 billion in 2021, an 9.8% increase. Of the 80,824 in this price range, values were increased for 75,806, reduced for 4,705, and remained ...

  Most property owners believe appraisal districts should cut taxable values in 2021. 93% of Texas property owners surveyed by O’Connor thought appraisal districts should reduce values in 2021 due to the impact of COVID. Williamson Appraisal District raised the overall taxable value of commercial properties by  17.7 %, for the 19,906 commercial properties with 2021 values available. The 2021 increase in Williamson Appraisal District taxable values is summarized below: Office                     14.9% Land                      29.3% Retail                     30.4% Warehouse           24.7% Taxable values were increased for 658 of 686 office buildings.  The total assessed value increased to $3.289 billion in 2021 from $2.814 billion...

  Remote work is nothing new. Many employees had occasionally been telecommuting from home or clients’ offices long before the COVID-19 turned Zoom meetings and Slack messages into the norm rather than the exception. However, despite the vaccine rollout, employees are not rushing to get back into the office. Remote work is here to stay   The   majority of employees  wish to keep working from home at least part-time in the future. They appreciate the lack of commute, flexibility, and better work-life balance that remote work provided in the past year. Work-from-home was a success for companies as well, with the   productivity of their employees  remaining stable or even increasing during the pandemic. Major companies, such as Facebook or Amazon, are switching to a fully remote or hybrid model for the foreseeable future. According to an   Upwork survey , as much as 22% of the American workforce could be fully remote by 2022 – not including employees foll...

  Most property owners believe appraisal districts should cut taxable values in 2021. 93% of Texas property owners surveyed by O’Connor thought appraisal districts should reduce values in 2021 due to the impact of COVID. Travis Appraisal District raised the overall taxable value of commercial properties by 8.51%, for the 33,231 commercial properties with 2021 values available. The 2021 increase in Travis Appraisal District taxable values is summarized below: Office                   7.72% Land                    0.72% Warehouse         10.9% Apartment         12.73% Hotel                   1.83% Taxable values were increased for 2,320 of 2,908 office buildings.  The total assessed value increased to $35.527 billion in 2021 from $32.536 billi...