For tax appeals in 2023, property owners in El Paso County have received more than $18.5 million.

El Paso Central Appraisal District has the responsibility of annually determining the market value of all the real property and personal property throughout El Paso County. You have an obligation as a property owner to annually contest your values, in spite of how much the value has gone up or down. Using the initial and current tax rolls supplied by the El Paso Central Appraisal District (as of June 2023), O’Connor is able to illustrate the importance and impact property protests have on the amount tax payers are responsible for paying each year.

Based on an analysis of data regarding property tax savings from the past few years as published on El Paso County Property Tax Trends, O’Connor predicts that total 2023 property tax savings as an outcome of El Paso County property tax protests will reach around $32 million.

El paso County Protests resulting in Reduction

With $4.61 million in overall property tax reductions in 2023, homeowners will benefit the most. According to El Paso Central Appraisal District data, 6,299 home values have been decreased in response to tax objections for 2023. Based on a 2.7% tax rate and excluding homestead exemptions, the average assessment decrease is $27,138, with a corresponding average savings in property taxes of $733.

The highest savings per tax protest went to multifamily owners, who saved the second most money overall on property taxes. The value of the initial $700 million in apartment tax appeals has been lowered to $549 million so far in 2023, lowering tax assessments by $151 million. Based on a tax rate of 2.7%, the total property tax savings for apartment owners YTD are anticipated to be $4.08 million. In El Paso County, the average apartment tax protest resulted in a decrease of 21.6%, saving $36,453 in property taxes. This also contains 112 apartment hearing results from 2023.

Land and other commercial property tax appeals in El Paso County resulted in an assessment decrease of 28.5%, which was the highest percentage. Over 200 property tax appeals were resolved in 2023. $113 million was deducted from the original value of $159 million. Following the estimated $1.2 million in total tax savings for the owners based on a 2.7% tax rate, or $6,132 per tax parcel.

Proprietors of hotels have been successful in lowering the assessed value of hotels under protest from $179 million to $157 million. Due to this, $22 million in taxes were assessed at a lower amount, saving $594,469 thousand in taxes at a 2.7% tax rate. This comprises the findings of 25 hotel property tax

hearings, which resulted in average savings of $23,779,00 per hotel for assessments that were concluded in 2023 with reductions. For protests with a decrease, the typical protest reduction is 12.3% yearly for the hotel tax and property tax.

Property owners of office buildings achieved $2.1 million in property tax savings for 142 office buildings tax protests were resolved this year in El Paso County. With a $79 million reduction in the tax assessment, the original value of $325 million has been lowered to $246 million. Based on a 2.7% tax rate, annual property tax savings averaged $15,037. For office tax objections that are settled with a reduction, the assessment reduction in percentage terms is 24.3%.

In 2023, property owners in El Paso County successfully appealed their taxes for a total of 7,218 properties. These appeals resulted in a decrease in the initial assessed values from $4.44 billion to $3.75 billion, averaging a reduction of 15.48%. On average, each property that was appealed saved $2,571 in taxes, including appeals for both residential and commercial structures.

Apartments with the largest 2023 property tax assessment reduction include the following:

  •  The owner of the Las Mansiones apartments, which can be found at 1500 Bob Hope Dr. in El Paso, Texas, had an initial tax assessment of $33 million, which was later reduced to $21 million a reduction of $12.9 million, or 38%. Based on a 2.7% tax rate and a property built in 2010, the tax assessment reduction reduces the property’s property taxes by $12.9 million.
  • Due to an adjustment in their initial property tax assessment, which went from $27 million to $15.4 million, or a $12.5 million reduction, Patriot apartment owners were able to save $338,474 in 2023. Having a property tax decrease of 44% for this 1994-built complex.
  •  The estimated $21.6 million 2023 property tax assessment was cut from $10.9 million to $10.7 million, reflecting a reduction in the 2023 property tax assessment. Las Mansiones at Eastlake’s property owner cut their property taxes by 50%. This structure is located in El Paso, Texas, at 12701 Eastlake Boulevard.

The huge potential property tax savings shown above are only a few of the benefits of filing a property tax appeal. Over 141 specialists are employed by the El Paso Central Appraisal District to appraise properties in El Paso County.

The baseline values provided by the El Paso Central Appraisal District are contrasted with the most current tax assessments for 2023 to determine the reduction in the 2023 property tax assessment. Properties that were protested but received no reduction are not included in this data, which raises the average decrease. Property owners are urged to carefully review and challenge their yearly property tax assessments. In an average year, El Paso County property tax protests are successful in well over half of the cases.

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