Cameron County property owners have already saved over $7 million from property tax protests in 2023. Cameron Appraisal District is responsible for estimating the market value of real property and personal property in Cameron County annually. Property owners have the right to contest those values each year, whether the value is raised or not. This data has been compiled by O’Connor based on initial and the current tax rolls provided by Cameron Appraisal District.
O’Connor estimates total 2023 property tax savings as a result of Cameron County property tax protests will total about $9 million based on reviewing data for property tax savings from prior years as reported on Cameron County Property Tax Trends
Home owners have saved about $4 million already in property tax protests in 2023. Cameron Appraisal District shows they have reduced values for 4,491 houses in 2023 tax protests. The average assessment reduction is $38,054 with average property tax savings of $1,027, based on a 2.7% tax rate and not considering homestead exemptions.
Apartment owners scored the largest total property tax savings and the largest savings per tax protest. Apartment tax protests resolved so far in 2023 have reduced the initial value of $81 million to $72 million, reducing tax assessments by $9 million. The total property tax savings YTD for apartment owners is estimated at $260,929, based on a tax rate of 2.7%. Apartment tax protests in Cameron County averaged a reduction of 11.8% and estimated property tax savings per apartment tax protest of $4,578. This includes hearing results for 57 apartments already in 2023.
The largest percentage assessment reduction for Cameron County commercial property tax protests is 39.7% for land / miscellaneous, including 905 tax protests resolved in 2023. The initial value of $69 million was reduced to $41 million. The total tax savings for these owners is approximately $744,721 based on a 2.7% tax rate, or $823 per tax parcel.
Hotel owners have successfully reduced the assessed value of hotels protested and resolved already from $242 million to $189 million. This generated tax assessment reduction of $53 million with tax savings of $1 million based on a 2.7% tax rate. This includes property tax hearing results for 58 hotels with average property tax savings of $24,904 per hotel for hearings completed in 2023 with reductions. The average percentage reduction for hotel tax property tax protests in 22.0% YTD for protests with a reduction.
Office building owners have achieved the second highest aggregate property tax savings totaling $58,710 for 66 office building tax protests resolved YTD in Cameron County. The initial value of $29 million has been reduced to $27 million, a reduction of tax assessment of $2 million. Property tax savings averaged $890 based on a 2.7% tax rate. The percentage assessment reduction for office buildings is 7.4% for office tax protests resolved with a reduction.
Cameron County property owners have completed tax protests in 2023 with a reduction for 5,818 properties, reducing the initial assessed value of $1.6 billion to $1.3 billion, an 108.3% average reduction. The average tax savings per property protested is $34,324 including protests for houses and commercial properties.
Hotels with the largest 2023 property tax assessment reduction include the following:
- The owner of the S P I MANAGEMENT CO at 500 PADRE BLVD, SOUTH PADRE ISLAND, Cameron Texas reduced their property tax assessment from $14 million to $13 million, a $5 million reduction, or 26%. This tax assessment reduction reduces their property taxes by $140,354 based on a 2.7% tax rate.
- INNJOY HOSPITALITY LLC Hotel owner at 100 PADRE BLVD, SOUTH PADRE ISLAND TX is saving $82,518 in 2023 as a result of reducing their initial property tax assessment of $13 million to $10 million, a $3 million reduction. This was a 23% property tax reduction for this Hotel complex built in 2019.
- TEXAZ HOSPITALITY INVESTMENT GROUP LLC Hotel owner reduced their property taxes by 22% or $65,446. The initial 2023 property tax assessment of $10 million was reduced to $8 million, a $2 million reduction in the 2023 property tax assessment. This property was built in 2021 and is located at 109 SPUR 54, HARLINGEN TX.
Cameron Appraisal District has a staff of over 65 professionals who value property in Cameron County. However, the above examples illustrate the large potential for property tax reductions available through the property tax appeal process.
The 2023 property tax assessment reduction is based on comparing the initial values sent by Cameron Appraisal District with the most recent tax assessments for 2023. This data does not include properties protested with no reduction, which increases the average reduction. In a typical year, about 5% of Cameron County tax parcels will be protested, or about 11,853 tax protests out of a total of 215,100 tax parcels.
Property owners are encouraged to scrutinize their annual property tax assessments and appeal annually. Well over half of property tax protests in Cameron County are successful in a typical year.
