The 2021 values are reasonable if you think values are higher due to COVID. But most businesses have been negatively affected by COVID. So why are appraisal districts raising values in 2021???
Owners of hotels, retail and office buildings have been seriously affected by COVID. Yet most appraisal districts have raised values for most commercial properties. Do you see the logic? I don’t.
Only one appraisal district has reduced values for hotels, and by just 10%. Other appraisal districts have left hotel values flat or increased them. One large appraisal district in the Houston metro area raised hotels by over 50%, based on the new values for all hotels in the county. Really. Not kidding.
The hotel values tell the story. Is it reasonable to leave values flat when hotel revenues have fallen 50%? I don’t think so. The excessive hotel values are an indication all commercial property values are excessive.
What can You do? Protest your property taxes in 2021. Even if you have not protested before. Whether you do it yourself, hire a competitor or hire us. Protest your home and commercial property taxes in 2021.
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