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Tarrant County Property Valuations


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#1 David Love

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Posted 24 July 2011 - 03:56 PM

Residential / Commercial Property

Tarrant County values rebound about 1% some cities are up, others (not so much.)

I've purchased a number of houses in several states and more than two in Tarrant County, I THOUGHT I had the property valuation somewhat figured out, at least in Tarrant County, until I started looking at commercial property.

Not sure if it's the norm but in what situation is it "normal" for a property's value to show a slow steady increase in value over 5 to 10 years, with some fluctuations with recent economic activity, slight dip but nothing too drastic, then the asking price for the property is 2 to 3 times the value? Nothing new in the area, no plans for a lake or shopping center, in fact, most of the areas I've looked at have gone downhill since my budget isn't that big, no remodeling, nothing invested, not even a fresh coat of paint, is this the norm for Tarrant County? Valuations are 33% to 50% of asking price and I'm not talking the occasional one or two.

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#2 360texas

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Posted 24 July 2011 - 05:16 PM

Hmmm.. If I was negotiating for commercial property, first item I would ask my self... is what is the current fair market value. Meaning, within the last 12 months.. what has other property say 10 other properties of like kind 'sold for' not "asked for" in the same local area ? Then what is TAD tax value showing for the property you are looking at? If you have bought and sold property.. then you probably know the drill.

Is there some event that is going to change the property value over next 12 months ? Not sure... gas leases? TRV ? Not sure. I would have thought that over last 2 - 3 years property values would have been 'FLAT' or gone down. Statistics can be shifted to make them report any value you want... then BIG PRESS RELEASE. WOW ! Property owners can ASK any value they want ! Its the selling of other like kind property that sets he current fair market property value of the property that your looking at.

Added value above fair market value is only speculative for sellers. LOLLLL Maybe its because we have a new Mayor(ess) with sound financial background that is causing the property speculation. "Valuations are 33% to 50% of asking price " Who is providing the valuations ? A real estate agent ?



Residential / Commercial Property

Tarrant County values rebound about 1% some cities are up, others (not so much.)

I've purchased a number of houses in several states and more than two in Tarrant County, I THOUGHT I had the property valuation somewhat figured out, at least in Tarrant County, until I started looking at commercial property.

Not sure if it's the norm but in what situation is it "normal" for a property's value to show a slow steady increase in value over 5 to 10 years, with some fluctuations with recent economic activity, slight dip but nothing too drastic, then the asking price for the property is 2 to 3 times the value? Nothing new in the area, no plans for a lake or shopping center, in fact, most of the areas I've looked at have gone downhill since my budget isn't that big, no remodeling, nothing invested, not even a fresh coat of paint, is this the norm for Tarrant County? Valuations are 33% to 50% of asking price and I'm not talking the occasional one or two.


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#3 David Love

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Posted 24 July 2011 - 07:12 PM

Hmmm.. If I was negotiating for commercial property, first item I would ask my self... is what is the current fair market value. Meaning, within the last 12 months.. what has other property say 10 other properties of like kind 'sold for' not "asked for" in the same local area ? Then what is TAD tax value showing for the property you are looking at? If you have bought and sold property.. then you probably know the drill.

Is there some event that is going to change the property value over next 12 months ? Not sure... gas leases? TRV ? Not sure. I would have thought that over last 2 - 3 years property values would have been 'FLAT' or gone down. Statistics can be shifted to make them report any value you want... then BIG PRESS RELEASE. WOW ! Property owners can ASK any value they want ! Its the selling of other like kind property that sets he current fair market property value of the property that your looking at.

Added value above fair market value is only speculative for sellers. LOLLLL Maybe its because we have a new Mayor(ess) with sound financial background that is causing the property speculation. "Valuations are 33% to 50% of asking price " Who is providing the valuations ? A real estate agent ?


Residential / Commercial Property

Tarrant County values rebound about 1% some cities are up, others (not so much.)

I've purchased a number of houses in several states and more than two in Tarrant County, I THOUGHT I had the property valuation somewhat figured out, at least in Tarrant County, until I started looking at commercial property.

Not sure if it's the norm but in what situation is it "normal" for a property's value to show a slow steady increase in value over 5 to 10 years, with some fluctuations with recent economic activity, slight dip but nothing too drastic, then the asking price for the property is 2 to 3 times the value? Nothing new in the area, no plans for a lake or shopping center, in fact, most of the areas I've looked at have gone downhill since my budget isn't that big, no remodeling, nothing invested, not even a fresh coat of paint, is this the norm for Tarrant County? Valuations are 33% to 50% of asking price and I'm not talking the occasional one or two.

I start with TAD for values, I've always made the assumption those values were within 10 to 20% of the actual value, sometimes a little low, but asking 100 to 300% over the TAD value has me wondering where to even start when it comes to negotiation.

Better Business Bureau:  A place to find or post valid complaints for auto delerships and maintenance facilities. (New Features) If you have a valid gripe about auto dealerships, this is the place to voice it.


#4 Papaw

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Posted 24 July 2011 - 09:08 PM

Commercial property value is much less dependent on the tax TAD value than residential property. It seems that commercial is more in sync with future potential value than past or present apparent value.

#5 Keller Pirate

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Posted 25 July 2011 - 07:41 AM

I think TAD values commercial property partly based on economic activity. If you are manufacturing or retailing something in your commercial property it will get a higher assessment. Conversely, it allows people to hold on to empty buildings longer than they should, such as the T&P warehouse, with low tax assessments.

#6 Roger_H

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Posted 25 July 2011 - 08:15 AM

Over the years I've been privy to the actual purchase price of a number of commercial and industrial properties. I have always found the TAD appraisal to be substantially lower than the actual price that was paid, often less than 50% of the true price. I have often wondered why the local governments don't cause a stink over this. It seems to me that if non-residential property were appraised closer to its true worth, that could substantially lower the tax burden on homeowners.

#7 David Love

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Posted 25 July 2011 - 11:42 AM

Over the years I've been privy to the actual purchase price of a number of commercial and industrial properties. I have always found the TAD appraisal to be substantially lower than the actual price that was paid, often less than 50% of the true price. I have often wondered why the local governments don't cause a stink over this. It seems to me that if non-residential property were appraised closer to its true worth, that could substantially lower the tax burden on homeowners.

It was somewhat of a shock to me!

Over the past couple decades I've followed buildings here and there, noticed the For Sale signs, then checked out the appraised value online, in the early days by visiting the court house, but I've always just assumed "commercial" appraisals were dealt with the same as residential. Recently I gained the ability to pull a lot more info on listed properties, building after building it's 250K to 350K asking prices appraise at 80 to 110K...? What REALLY makes it confusing is some appraise at what you'd expect and it's not that they've just sold, which again would be what I'd expect, they're just appraised near what their asking price is, it's bonkers.

Better Business Bureau:  A place to find or post valid complaints for auto delerships and maintenance facilities. (New Features) If you have a valid gripe about auto dealerships, this is the place to voice it.


#8 360texas

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Posted 25 July 2011 - 12:06 PM

If you find a commercial property that your REALLY need, suggest you arrange for an independent appraiser.

As a part of their final appraisal.. they should have written documentation/ photos of at lease 5 other recently SOLD (12 months) properties of like attributes that financially support their appraised value.

NOW you get to ask your questions as to why the property was appraised at the appraised value. And maybe how much influenced 'speculative' value is included in their appraisal.

This will also give you some negotiation material when it comes to buying price settlement.

I would also look into historical area environmental soils reports which might surface some big issues you might not want to deal with.

I am thinking about the abandoned TXU / Tarrant County College and Power Plant near the bridge on North Main. Something about the City or some agency approving a ' do not have to remediate waiver' on the soils contamination.

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#9 David Love

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Posted 25 July 2011 - 01:59 PM

The overall service I opted for has COMPS as one of its add on services, some seem to trend towards TAD values, some don't, but it's the lack of sales in the past year or so that has some of those skewed a bit, to be honest I think that might be a good thing, for a buyer I mean.

Better Business Bureau:  A place to find or post valid complaints for auto delerships and maintenance facilities. (New Features) If you have a valid gripe about auto dealerships, this is the place to voice it.


#10 Roger_H

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Posted 26 July 2011 - 06:29 PM

Here's a production and distribution facility in the Riverbend Industrial Park. According to TAD, the land and building is worth just under $3 million. The business personal property is worth just under $5 million. So according to TAD, the whole thing has a fair market value of about $8 million. Yet a Boston firm just acquired it for $17.9 million.

#11 David Love

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Posted 26 July 2011 - 07:20 PM

Here's a production and distribution facility in the Riverbend Industrial Park. According to TAD, the land and building is worth just under $3 million. The business personal property is worth just under $5 million. So according to TAD, the whole thing has a fair market value of about $8 million. Yet a Boston firm just acquired it for $17.9 million.

Great example of what I'm experiencing, only difference is the next one you run into goes for 10% more or very near TAD appraised value, but many are in the 100 to 300% of TAD value.

Note: I do not thing taxing businesses more will solve anything, I believe that's what's partially to blame for many of the job losses we've seen over the last few years. I'm just trying to get an idea as to a structure's actual value without having it appraised.

Better Business Bureau:  A place to find or post valid complaints for auto delerships and maintenance facilities. (New Features) If you have a valid gripe about auto dealerships, this is the place to voice it.


#12 johnfwd

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Posted 12 June 2017 - 12:47 PM

I thought this ST article by Max B. Baker is very relevant this year.  As an attorney, I am representing two property owners at TAD review board hearings.  At one of the hearings, my client was protesting an increase in valuation from $60,000 last year to $136,000 this year on a house in Arlington.  This particular board paid no attention to his evidence and sided with the TAD representative who presented evidence on comparable values in the area, and ruled that $136,000 is what it will be.  I suspect a lot of property owners are going to be shafted this year.

 

http://www.star-tele...e155307019.html






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