Relocating to your business to Texas may increase your property taxes. Our property taxes are likely higher than where you were before. The difference is that Texans don’t pay personal income taxes. Your income and your building’s value will determine whether or not you will save money by moving to Texas.

In Texas, understanding the property tax process can be confusing. Property taxes are local but the process is governed by Texas law. Property taxes are calculated by multiplying the assessed value of the property minus applicable exemptions with the rates used by the taxing authorities. Texas state law defines the assessed value of real property as the market value of a property on January 1. They are typically paid in a single annual payment that is due on or before December 31.

Our tax attorneys at Simplified Business Solutions will work with in-house counsel and property tax consultants to address your commercial property tax issues. We will review, in-depth, any legal problems or issues, investigate, and suggest resolutions. We can also attend mediation and go to trial for you.

Why should I protest my Commercial Real Texas property taxes?

Many cases you assessed property value is higher which causes you taxes to be higher. Property Tax AppealOnce the deadline to protest passes you cannot go back. Sometimes your assessed property value may not be accurate as a result of your commercial property has never been individually appraised.

At McDonnell Richardson CPA, PC, we stay up with how and when to protest. The appraiser’s proposed value is based off a mass appraisal and does not have the manpower or time available to appraise each property accurately. Assessed values are sensitive to economy growth and decline. When the economy grows, your local appraisal district increases values but when the economy declines it is reluctant to reduce your valuation.

Every property is different so if you expect to reduce your property tax burden you will need custom analysis of your home, comprehensive analysis of your neighborhood, analysis of comparable properties to your home, and a strategy when meeting with the central appraisal district.

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