Most property owners believe appraisal districts should cut taxable values in 2021. 93% of Texas property owners surveyed by O’Connor thought appraisal districts should reduce values in 2021 due to the impact of COVID.

Brazoria Appraisal District raised the overall taxable value of commercial properties by 1.8%, for the 9,893 commercial properties with 2021 values available. The 2021 increase in Brazoria Appraisal District taxable values is summarized below:

Office                   7.65%

Retail                   2.04%

Warehouse         4.24%

Apartment          14.85%

Taxable values were increased for 353 of 581 office buildings.  The total assessed value increased to $0.56 billion in 2021 from $0.51 billion in 2020.  The increases are surprising considering the impact of COVID on office occupancy.

Increases in retail properties were the biggest surprise.  Scores of national retailers have filed for bankruptcy.  Thousands of local tenants have abandoned leases due to COVID.  Yet the taxable value of retail properties were increased for 160 of 460 retail properties with new values available.   The total taxable value rose to $1.120 billion from $1.093 billion in 2020.

Warehouse properties saw the largest increase for improved commercial properties in Brazoria County, with values increasing a whopping 4.24%.  The 2021 taxable value was increased for over half of properties with new values available.; 49 of 101 warehouses were increased.  The total taxable value spiked to $0.15 billion from $0.14 billion in 2020.

Taxable values were increased for 162 of 229 apartments.  The total assessed value increased to $0.153 billion in 2021 from $0.133 billion in 2020.  The increases are surprising considering the impact of COVID on apartment occupancy.

The property tax protest deadline is May 17th. Brazoria County commercial property owners are encouraged to appeal regardless of whether their value increased.  There is a strong argument commercial values are lower in 2021 compared to a year ago due to COVID.  Many if not most commercial properties are expected to have a lower taxable value compared to last year, but ONLY if the 2021 value is appealed.

There are no flat fees or upfront costs with O’Connor, and never a fee unless we reduce your property taxes.  Simple and fast enrollment is free at:  https://www.poconnor.com/commercial1

or call 713 290 9700.  Fast and free.