Portfolio Case Study #1
The Property
The subject is a large retail portfolio client spread throughout Harris County. The initial assessed taxable value was $491,970,491. Harris County Appraisal District attempted to raise the portfolio’s taxable value by $69,844,325 or 17%.
Approach Taken
Upon a review of the county’s evidence, reviewing the subjects I/E and rent roll, and taking a closer look at the market for applicable sales comparables in the area, TCPTC was able to present evidence supporting the claim that the proposed increase was in fact unjustified.
Direct Results
After a review of all pertinent information, the portfolio’s taxable value was reduced to $430,096,867 (a reduction of $61,873,623), which resulted in a YoY increase of 1.89% compared to the initial 17% YoY increase. The reduction in taxable value resulted in property tax savings of $1,497,342 for our client.
