Texas Property Tax Deadline Changes for 2018

Written on February 06, 2018 at 01:11 PM

In 2017, the Texas Legislature made changes to the Texas Property Tax Code, most of which became effective on January 1, 2018. Among the changes are new, earlier deadlines for filing Notices of Protest and Personal Property Renditions.

Three important property tax deadline changes are:

  • May 15: The new deadline for filing a Notice of Protest. The previous deadline was May 31. If a Notice of Appraised Value is sent under Code Section 25.19 the deadline is extended until the 30th day after the notice is delivered.

  • April 1: The new deadline for filing a personal property rendition "for property located in an appraisal district in which one or more taxing units exempt property under Section 11.251 (Freeport Exemption)." The previous deadline was April 15.

  • March 31: The new deadline for an application for Interstate Allocation for moveable personal property, including vehicles, vessels and watercraft, commercial aircraft and business aircraft. The previous deadline was April 30.

A summary of the remaining deadline changes are as follows:

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Categories: Personal Property, Real Property, Texas

Toys R Us Announces Plans to Shutter 180 Stores, But Are More Closures on the Horizon?

Written on January 25, 2018 at 12:47 PM
Toys R Us is planning to shutter  roughly 180 stores   across the country, or about one-fifth of its U.S. store fleet, in a bid to restructure the company and emerge from bankruptcy protection. But some industry experts are predicting this to be the first phase of a more robust real estate clean up effort. Closures are set to begin in early February and run through mid-April of this year,  and locations  range from cities in New York and New Jersey to California. Here's a map of where Toys R Us stores are going dark from CNBC.  Toys R Us is planning to co-brand some of its other stores to include both Toys R Us and Babies R Us, the company said, as it also invests in revamping the retailer's loyalty program and improving the online shopping experience.
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Categories: Big Box, Real Property, Retail

Navigating Property Taxes for Student Housing

Written on December 18, 2017 at 01:50 PM

Property tax professionals lend their expertise on tackling student housing property taxes.

By Amy Bigley Works | Student Housing Business

Managing property taxes and ensuring the best valuation can be challenging for any commercial real estate property type, but for student housing owners and operators the process can be even more daunting. Student Housing Business spoke with student housing property tax experts to gain insight and recommendations for coming out ahead in the property tax and property valuation. Larry Backus, North Texas market leader, was one of the experts to share his knowledge and expertise on property tax for the student housing industry.

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Categories: Real Property, Paradigm Info, Multi Family, Student Housing

Four Tips for Keeping Property Taxes from Impacting Your Hotel's Bottom Line

Written on December 14, 2017 at 10:39 AM

by Jessica Vachiratevanurak, Managing Consultant, Miami | Today's Hotelier

For hoteliers, property tax expense is often a substantial fixed expense. As a result, understanding how property taxes are calculated and what owners and operators can do to mitigate them is crucial. Below are four tips for keeping property taxes from unduly impacting your hotel’s bottom line.

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Categories: Real Property, Hospitality, Paradigm Info, Hotels

Amenities Arms Race: Apartment Trends to Watch

Written on December 07, 2017 at 10:42 AM

Amenities continue to be a hot topic in the multi-family industry, with apartment developers competing to attract and retain tenants amidst the growing shift from homeowning to renting. Both millennials and empty nesters are driving demand for apartment space as they continue to forego homeownership. The U.S. homeownership rate was 63.9 percent in the third quarter of this year, similar to the 63.5 percent in the third quarter of 2016. The rate is up 100 basis points from second-quarter 2016 when homeownership reached its lowest level since the Census began tracking it in 1965. 

In a recap of the architecture and design panel at the eighth annual InterFace Multifamily Southeast conference, REBusiness Online identified the top amenity trends for apartment developers:

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Categories: Real Property, Apartments, Multi Family

CRE Has Been In Ninth Inning For Two Years

Written on November 29, 2017 at 10:42 AM

Many are predicting a leveling out of the commercial real estate market in the coming year. Texas Market Leader James Sutton discussed 2018 commercial real estate trends and the implications of the leveling-out process in the Houston market in this EXCLUSIVE with GlobeSt.com.

GlobeSt.com: What are the commercial real estate trends you are seeing in Houston for 2018?

Sutton: Decrease in overall vacancy for industrial properties, as well as a decrease in overall vacancy, increase in rent growth and zero concessions for multifamily properties. In addition, there will be a reduction in office sublease space as a result of the storm (Harvey). This is a short-term correction as a result of the office sector’s issues stemming from the energy market decline.

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Categories: Office, Industrial, Real Property, Retail, Paradigm Info, Multi Family, Texas

Tax Reform Plan Eliminates Historic Tax Credit Program

Written on November 13, 2017 at 01:13 PM

The new tax reform proposal submitted by Republican lawmakers earlier this month would cut a program that has been an engine for urban renewal and economic revival, sparking strong opposition from city developers, planners, and preservationists across the country. The federal Historic Tax Credit program (HTC) encourages the redevelopment of historic and abandoned buildings by providing a 20 percent tax credit, which is paid out over five years, once the project is complete. According to analysis from the National Trust for Historic Preservation, it has been used to renovate more than 40,000 structures and channel $117 billion in private investment since being enacted by the Reagan administration in 1981.

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Categories: Historic Tax Credits, Real Property

Emerging Trends Shaping Real Estate in 2018

Written on November 01, 2017 at 04:31 PM
The immediate future of real estate looks positive, according to t he Urban Land Institute and PwC’s annual look at the year ahead. The 2018 Emerging Trends in Real Estate report, which  compiles more than 800 individual interviews and 1,600 surveys of real estate experts, predicts a 'long glide path to a soft landing' as the economic cycle runs its course, but does not forsee a sudden drop in altitude. 
One of the emerging trends is investors' increasing appetite for secondary markets. The 2018 outlook for secondary markets increased nearly 12 percent compared with the 2013 survey. Over the same time period, the investment outlook for primary markets has decreased by 6 percent.  According to the survey, secondary markets have outpaced the primary cities because investors are better educated, secondary markets haven’t become as overbuilt as they were in previous cycles, foreign capital has grown and seeks a safe home, and the growth in many of these cities seems much more sustainable and long-lasting.
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Categories: Office, Washington, Real Property, Retail

Austin, Atlanta Lead Race to Win Amazon's HQ2

Written on October 26, 2017 at 11:44 AM

After Amazon announced plans in September to build a second headquarters (HQ2) in an undetermined location, hundreds of local officials across North America have submitted proposals to try and win the $5 billion construction investment and 50,000 new jobs for their city. In an effort to lure Amazon, proposals boast potential tax breaks, local benefits and opportunities.

However, Moody’s Analytics metro area analysts ranked the largest metro areas using a data driven approach, and made the case for an individual city based on qualitative judgment. The analysts looked at five factors: business environment, human capital, cost, quality of life, and transportation. It then assigned a number to each city and a weight to each factor to come up with its list of 10 cities. An additional category, geography, was considered, but was not factored into the rankings. Moody's excluded Seattle, the site of Amazon's current headquarters, from consideration.

Below are Amazon's Top 10 Cities, according to Moody's Analytics:

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Categories: Pennsylvania, Georgia, Real Property, Massachusetts, Texas, New York, Florida, Oregon, Utah

4 Tips to Keep Property Taxes from Hurting Your Bottom Line

Written on October 25, 2017 at 11:48 AM

By Matthew Fossey, EVP of Operations - East | QSR Magazine

Property taxes can be one of the biggest line item costs for restaurant owners, but they don’t have to be. There are strategies they can use and information they can gather to help manage, and even lower, the amount operators pay in property taxes. Below are tips to keep property taxes from impacting a restaurant’s bottom line:

Your restaurant’s assessment matters … but you may be able to change it

A property’s assessment plays a big part in how much the owner pays in property tax, so it’s crucial the assessment is fair and accurate. However, sometimes assessments in a certain area haven’t been done in a while or the market has drastically changed since the last assessment. In these cases, a restaurant owner should respond to the assessment they have been given in order to ensure the values are as low as possible. The frequency at which a property can be reassessed varies on the location. In some areas, properties can be re-assessed annually or could range three to five years.

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Categories: Real Property, Retail, Paradigm Info




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