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Harris County Appraisal District Raises Property Tax Assessment 8% overall

Most apartment investors believe values declined between January 1 2020 and January 1 2021.  Factors negatively affecting apartments include:

  • Eviction freeze with some residents not paying for over one year
  • Higher move-outs due to apartment dwellers buying homes
  • Excess new construction leading to higher vacancy and higher free rent concessions.
  • Ten million jobs lost.
  • Global pandemic which disrupted travel and trade.

While apartment revenue has declined, operating expenses have increased for a variety of factors including responding to COVID.

Over 90% of apartments in Harris County incurred a higher property tax assessment for tax year 2021despite lower revenue and higher operating expenses.  Four of 5,089 apartments had no change in value, 418 had a reduction in assessed value and 4,669 Harris County apartment complexes say the initial noticed value set by the Harris County Appraisal District increased.  In other words, over 90% of Harris County apartment owners were tagged with a higher assessed value by Harris County Appraisal District despite the pandemic.  Why?

The total value of apartments valued by Harris County Appraisal District was $47.4 billion in 2020 and increased to $50.9 billion in 2021.  Fully 866 apartments had an assessment increase of $1 million or more in 2021.

Fifty-six apartments had an assessment increase of 100% or higher.  A total of 116 had an assessment increase of 50 to 99.9%.  Another 911 had an assessment increase by Harris County Appraisal District of 20 to 49.9%  Yet another 1,219 apartments had an assessment increase of 10 to 19.9%, during a period when rents were falling and expenses were increasing.

The following 100 apartments had the largest absolute increase in assessed value in 2021 versus 2020:

Property Address Property City Property Zip 2020_Certified Market Value 2021_Noticed Market Value 2021 Increase in Assessed Value
929 Westcott St 315 Houston 77007 $23,644,322 $98,053,527 $74,409,205
2930 Kirby Dr 340 Houston 77098 $93,610,453 $155,542,806 $61,932,353
3300 Main St 328 Houston 77002 $67,663,720 $121,001,444 $53,337,724
1521 Austin St 270 Houston 77002 $48,818,381 $92,282,756 $43,464,375
14700 Vintage Preserve Pky Houston 77070 $10,956,281 $45,765,222 $34,808,941
10923 Boudreaux Rd Spring 77379 $9,628,365 $40,218,706 $30,590,341
5048 Calhoun Rd Houston 77021 $14,726,518 $44,791,955 $30,065,437
20510 Cypress Plaza Pkwy 360 Cypress 77433 $11,839,147 $41,528,821 $29,689,674
2121 Edwards St 334 Houston 77007 $4,323,608 $32,332,864 $28,009,256
12807 Telge Rd 303 Cypress 77429 $8,125,415 $34,576,229 $26,450,814
6400 Washington Ave Houston 77007 $12,474,476 $38,668,305 $26,193,829
3411 Yoakum Blvd 283 Houston 77006 $66,324,814 $90,752,916 $24,428,102
7203 Boudreaux Rd 336 Spring 77379 $16,123,972 $37,947,387 $21,823,415
2111 Austin St 216 Houston 77002 $29,773,015 $49,920,667 $20,147,652
4209 Spring Stuebner Rd 350 Spring 77389 $28,639,448 $47,182,951 $18,543,503
17900 Mound Rd 234 Cypress 77433 $7,228,499 $25,253,623 $18,025,124
720 W 26Th St 281 Houston 77008 $9,368,579 $26,940,614 $17,572,035
695 Pineloch Dr 712 Webster 77598 $50,100,000 $67,324,609 $17,224,609
17417 W Lake Houston Pky Humble 77346 $16,387,075 $33,546,457 $17,159,382
1215 Sawyer St Houston 77007 $31,063,382 $47,853,307 $16,789,925
2717 Minimax St 342 Houston 77008 $26,785,121 $43,410,808 $16,625,687
2600 Westridge St 264 Houston 77054 $6,848,519 $23,468,092 $16,619,573
2611 Bens Branch Dr 518 Humble 77339 $43,500,000 $58,363,085 $14,863,085
777 Preston St 463 Houston 77002 $167,192,135 $181,891,821 $14,699,686
8701 Gustine Ln 465 Houston 77031 $10,715,280 $25,374,098 $14,658,818
3300 Bay Area Blvd 350 La Porte 77571 $14,998,871 $29,301,355 $14,302,484
2424 S Voss Rd Houston 77057 $61,060,000 $74,950,353 $13,890,353
2500 Greenhouse Rd 288 Houston 77084 $24,697,536 $37,835,300 $13,137,764
3900 Dacoma St 263 Houston 77092 $17,273,576 $30,182,955 $12,909,379
3030 Summer St 375 Houston 77007 $52,230,119 $64,865,808 $12,635,689
12212 E Tidwell Rd 264 Houston 77044 $15,050,467 $27,599,101 $12,548,634
770 N Eldridge Pky 320 Houston 77079 $46,550,000 $59,075,765 $12,525,765
10333 Clay Rd 357 Houston 77041 $33,403,641 $45,838,317 $12,434,676
6425 Westheimer Rd 798 Houston 77057 $44,024,172 $55,858,902 $11,834,730
1818 Fannin Speed Way 338 Houston 77045 $23,500,036 $35,279,792 $11,779,756
1721 Greenhouse Rd 361 Houston 77084 $43,171,799 $54,542,456 $11,370,657
24002 Colonial Pky 329 Katy 77493 $29,340,892 $40,522,212 $11,181,320
2828 Hayes Rd 510 Houston 77082 $54,500,000 $65,327,507 $10,827,507
2300 Repsdorph Rd 259 Seabrook 77586 $25,825,166 $35,862,300 $10,037,134
23615 Western Centre Dr 330 Katy 77494 $24,948,859 $34,903,906 $9,955,047
13555 Cullen Blvd 252 Houston 77048 $11,116,612 $20,965,243 $9,848,631
19200 Space Center Blvd 388 Houston 77058 $60,817,455 $70,431,457 $9,614,002
21919 Clay Rd 351 Katy 77449 $30,107,955 $39,566,789 $9,458,834
150 Cobia Dr 329 Katy 77494 $28,943,472 $38,318,940 $9,375,468
5310 Milwee St 170 Houston 77092 $7,694,883 $16,511,047 $8,816,164
2200 N Sam Houston Pky E 270 Houston 77032 $20,226,945 $28,872,025 $8,645,080
13333 West Rd 376 Houston 77041 $40,200,000 $48,827,621 $8,627,621
777 S Mayde Creek Dr 379 Houston 77079 $68,878,689 $77,455,481 $8,576,792
14928 Mueschke Rd 136 Cypress 77433 $10,229,830 $18,795,474 $8,565,644
99 N Post Oak Ln 216 Houston 77024 $49,651,000 $58,136,682 $8,485,682
26700 Kuykendahl Rd 292 Spring 77389 $41,278,488 $49,675,852 $8,397,364
8990 Richmond Ave 228 Houston 77063 $10,246,081 $18,602,980 $8,356,899
7510 Brompton St 793 Houston 77025 $68,000,000 $76,334,627 $8,334,627
7575 Bissonnet St 397 Houston 77074 $14,320,822 $22,446,479 $8,125,657
10110 Westview Dr 345 Houston 77043 $3,801,072 $11,829,819 $8,028,747
9449 Briar Forest Dr 511 Houston 77063 $25,903,840 $33,787,348 $7,883,508
160 Birdsall St 264 Houston 77007 $25,037,445 $32,833,731 $7,796,286
2401 Repsdorph Rd 277 Seabrook 77586 $22,040,750 $29,733,029 $7,692,279
3300 Towers Blvd 416 Seabrook 77586 $64,640,015 $72,303,713 $7,663,698
8011 Augusta Pines Dr 246 Spring 77389 $24,059,981 $31,550,163 $7,490,182
7777 Katy Fwy 402 Houston 77024 $57,853,686 $65,220,680 $7,366,994
23010 Franz Rd 324 Katy 77449 $25,871,476 $33,181,147 $7,309,671
9802 Forum Park Dr 708 Houston 77036 $54,381,476 $61,668,044 $7,286,568
722 International Blvd 706 Houston 77024 $75,904,239 $83,148,653 $7,244,414
11070 Katy Fwy 360 Houston 77043 $66,357,879 $73,525,100 $7,167,221
4010 Linkwood Dr 476 Houston 77025 $32,392,478 $39,548,497 $7,156,019
17630 Wayforest Dr 268 Houston 77060 $5,814,000 $12,945,506 $7,131,506
11411 Green Plaza Dr 280 Houston 77038 $6,718,175 $13,827,686 $7,109,511
99 W Cedar Bayou Lynchburg Rd 384 Baytown 77521 $38,273,938 $45,285,217 $7,011,279
10070 Westpark Dr 324 Houston 77042 $18,650,000 $25,640,207 $6,990,207
1001 Pinemont Dr 136 Houston 77018 $8,853,248 $15,839,673 $6,986,425
610 Oxford St Houston 77007 $1,758,020 $8,673,090 $6,915,070
3120 Smith St Houston 77006 $55,046,420 $61,940,625 $6,894,205
11800 Grant Rd 530 Cypress 77429 $51,135,420 $57,967,000 $6,831,580
1333 Eldridge Pky 352 Houston 77077 $27,500,000 $34,302,706 $6,802,706
2929 Weslayan St 250 Houston 77027 $122,666,012 $129,467,969 $6,801,957
21145 Spring Plaza Dr 340 Spring 77388 $48,325,989 $54,879,813 $6,553,824
5500 Sampson St 180 Houston 77004 $18,568,363 $25,095,684 $6,527,321
12635 E Tidwell Rd 120 Houston 77044 $1,830,333 $8,328,737 $6,498,404
2630 Tanglewilde St 256 Houston 77063 $34,412,466 $40,883,133 $6,470,667
1699 Romano Park Ln 288 Houston 77090 $25,400,000 $31,838,642 $6,438,642
150 W Sam Houston Pky N 280 Houston 77024 $56,703,839 $63,072,000 $6,368,161
7000 Westview Dr 334 Houston 77055 $17,897,380 $24,231,521 $6,334,141
5050 Yale St 250 Houston 77022 $15,366,000 $21,687,804 $6,321,804
17103 Clay Rd 161 Houston 77084 $10,099,285 $16,403,118 $6,303,833
5830 S Lake Houston Pky 256 Houston 77049 $11,382,727 $17,634,871 $6,252,144
14913 Richmond Ave 324 Houston 77082 $24,311,702 $30,528,446 $6,216,744
12777 Ashford Point Dr 442 Houston 77082 $23,213,524 $29,429,909 $6,216,385
3000 Greenridge Dr 396 Houston 77057 $33,869,744 $39,901,247 $6,031,503
13710 Park Row Dr 342 Houston 77079 $45,000,000 $50,925,374 $5,925,374
13328 Westheimer Rd 300 Houston 77077 $38,500,000 $44,407,734 $5,907,734
15902 Galveston Rd Webster 77598 $68,739,791 $74,625,339 $5,885,548
2828 Old Spanish Trl 299 Houston 77054 $49,250,000 $55,132,750 $5,882,750
510 W 20Th St 309 Houston 77008 $30,974,827 $36,828,791 $5,853,964
200 Katy Ft Bend Rd 212 Katy 77494 $46,213,746 $52,048,415 $5,834,669
3003 Seagler Rd 230 Houston 77042 $82,720,120 $88,543,246 $5,823,126
2702 W Bay Area Blvd 240 Webster 77598 $15,111,052 $20,907,985 $5,796,933
1625 Main St 336 Houston 77002 $67,746,048 $73,491,802 $5,745,754
14531 Ella Blvd 520 Houston 77014 $21,870,430 $27,537,582 $5,667,152
6550 Hillcroft St 921 Houston 77074 $41,812,501 $47,444,270 $5,631,769

 

Blog Author

Patrick O’Connor, MAI, Owner and President
Patrick O’Connor has been active in reducing property taxes, providing expert witness testimony and appraising commercial real estate property since 1983. Pat is active in publishing analyses and data with respect to the real estate market, while being a highly regarded media spokesperson for the real estate community. He holds a MAI, the highest achievable designation from the Appraisal Institute, and is a licensed senior property tax consultant. Pat earned a Master of Business Administration from Harvard University. In 2001, he authored the first definitive consumer guide to Texas property taxes, Cut Your Texas Property Taxes.

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