Two specific commercial property examples show how unfair the process is compared to residential appraisals. The Driskill hotel sold in 2013 for $85 million and was appraised that same year for $39.6 million; Northcross Mall sold in 2013 for $61.5 million and was appraised that same year for $28.8 million. Commercial property appraised at only 47% of it’s value is simply not fair.
So here’s the big news: The Travis County Commissioners Court seems to share our concern and has called a special meeting for this Monday, June 2nd, to vote to protest the appraisals!! The meeting will be at 1:30 pm at the Travis County Administration Building at 700 Lavaca on the first floor, Commissioners meeting room. Here’s the posting for Monday’s meeting: http://www.co.travis.tx.us/commissioners_court/agendas/2014/06/vs140602.asp
If you can attend and testify, (briefly and politely!), that will help underscore the severity of this problem. We can also assume that commercial property interests will attend and will urge no action, so it’s important that homeowners show up. Feel free to share this information on neighborhood ListServes, Facebook, Twitter, etc.
Also the general deadline for filing individual protest is June 2nd (but check your appraisal notice for your deadline--your specific deadline is printed on your notice).
Finally, the folks from Real Values for Texas are willing to meet with anyone who’s interested to see what can be done to encourage the legislature and other levels of government to fix this problem. If you are interested in meeting with them sometime in June please let Diane know at: email@example.com
Thanks for your concern and your civic participation--if we keep showing up on this issue, we can make a difference!
700 Lavaca St 1st Floor
Austin, TX 78701
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