Commercial Property Owners in Dallas County See Double Digit Percent Increases
The Dallas market has been hot, hot, hot these past few years, and 2017 is no exception. A booming real estate market comes with increases in values – and more specifically, taxable values for both residential and commercial real estate owners.
Owners have already received their 2017 Notices of Proposed Value in the mail, and The Dallas Morning News recently reported on this year’s preliminary appraised numbers. Here’s a quick by-the-numbers guide:
- Commercial property values in Dallas county increased by 14.6%
- Residential property values in Dallas county increased by 9.9%
- Approximately 54% of Dallas county residents saw their property values go up
- Dallas county’s total taxable property values jumped up by 11.1%
While property owners might not be satisfied with the values presented on their notices, they do still have the opportunity to protest property tax this year and file a real estate tax appeal. As we outlined in our last blog post, the protest filing deadline is May 31 (or 30 days from the date listed on the notice, whichever is later), and hearings at the Appraisal District will continue through the middle of July. Whether property owners handle the appeal process themselves, or hire experienced property tax consultants to handle their property tax appeal on their behalf, owners need to act fast to lower their tax bills this year!