El Paso County property owners have already saved over $19 million from property tax protests in 2023. El Paso Central Appraisal District is responsible for estimating the market value of real property and personal property in El Paso 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 El Paso Central Appraisal District.
O’Connor estimates total 2023 property tax savings as a result of El Paso County property tax protests will total about $32.9 million based on reviewing data for property tax savings from prior years as reported on El Paso County Property Tax Trends
Home owners have saved about $4.6 million already in property tax protests in 2023. El Paso Central Appraisal District shows they have reduced values for 6,299 houses in 2023 tax protests. The average assessment reduction is $27,138 with average property tax savings of $733, 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 $700 million to $549 million, reducing tax assessments by $151 million. The total property tax savings YTD for apartment owners is estimated at $4 million, based on a tax rate of 2.7%. Apartment tax protests in El Paso County averaged a reduction of 21.6% and estimated property tax savings per apartment tax protest of $36,453. This includes hearing results for 112 apartments already in 2023.
The largest percentage assessment reduction for El Paso County commercial property tax protests is 28.5% for land / miscellaneous, including 200 tax protests resolved in 2023. The initial value of $159 million was reduced to $13 million. The total tax savings for these owners is approximately $1.2 million based on a 2.7% tax rate, or $6,132 per tax parcel.
Hotel owners have successfully reduced the assessed value of hotels protested and resolved already from $179 million to $157 million. This generated a tax assessment reduction of $22 million with tax savings of $594,469 based on a 2.7% tax rate. This includes property tax hearing results for 25 hotels with average property tax savings of $23,779 per hotel for hearings completed in 2023 with reductions. The average percentage reduction for hotel tax property tax protests in 12.3% YTD for protests with a reduction.
Office building owners have achieved the second highest aggregate property tax savings totaling $2.1 million for 142 office building tax protests resolved YTD in El Paso County. The initial value of $325 million has been reduced to $246 million, a reduction of tax assessment of $79 million. Property tax savings averaged $15,037 based on a 2.7% tax rate. The percentage assessment reduction for office buildings is 24.3% for office tax protests resolved with a reduction.
El Paso County property owners have completed tax protests in 2023 with a reduction for 7,218 properties, reducing the initial assessed value of $4.4 billion to $3.7 billion, an 126% average reduction. The average tax savings per property protested is $109,198 including protests for houses and commercial properties.
Apartments with the largest 2023 property tax assessment reduction include the following:
- The owner of the 1500 HOPE LLC at 1500 BOB HOPE DR EL PASO,Texas reduced their property tax assessment from $34 million to $21 million, a $13 million reduction, or 38.2%. This tax assessment reduction reduces their property taxes by $350,792 based on a 2.7% tax rate.
- THE PATRIOT APARTMENTS LLC at 4600 FAIRBANKS DR EL PASO, TX owner is saving $338,474 in 2023 as a result of reducing their initial property tax assessment of $28 million to $15.4 million, a $12.5 million reduction. This was a 44.8% property tax reduction for this apartment complex.
- 12701 EASTLAKE LLC, Houston, Texas, owner reduced their property taxes by 50.5% or $295,550. The initial 2023 property tax assessment of $21.6 million was reduced to $10.7 million, a $10.9 million reduction in the 2023 property tax assessment.
El Paso Central Appraisal District has a staff of over 141 professionals who value property in El Paso 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 El Paso Central 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 13% of El Paso County tax parcels will be protested, or about 38,895 tax protests out of a total of $431 million tax parcels.
Property owners are encouraged to scrutinize their annual property tax assessments and appeal annually. Well over half of property tax protests in El Paso County are successful in a typical year.
