Property Tax Valuation

Our valuation analysis for fixed assets includes:

1. Compiling a list of inventories as of January 1, of the assessment year;
2. An elimination of any intangible component of the asset or assets under appeal;
3. An obsolescence and impairment study of the asset or asset class, determination of useful and economic life of the asset or assets, use of an appropriate depreciation schedule for the general asset class; and
4. A general review of the appraisal district’s records to determine any misclassification, under-utilized, idle or ghost asset or assets.

Our valuation analysis for Real Property includes:

1. Market delineation and building classification review of the property under appeal, and a thorough review for error of the appraisal district’s records on pertinent data of the property under appeal;
2. A comparable market data analysis of the market area as of the assessment date, including a review of general supply and demand characteristics such as, rental rates, vacancy rates, absorption rates, cap rates, comparable sales and listing data;
3. A cost approach valuation using the replacement cost new of the building component of the property under appeal, determining its effective age and applying an appropriate age-life depreciation, a rent loss and lease-up costs adjustment for both existing and newly constructed buildings;
4. A reconstruction of income & expense statement to reflect typical market conditions as of the assessment date, determining gross income, operating expenses and net income, and an application of an appropriate cap rate or loaded-cap rate for an income producing property under appeal;
5. A complete verification of the zoning district, land use density, setbacks, lot coverage ratio and other zoning specifications for improved and unimproved properties, particularly for an unimproved property or vacant land under protest; and
6. An application and reconciliation of the most relevant valuation method or methods to determine a fair and equitable value for the property under appeal.

Texas Property Tax Code, Sec 41.41. (a) (2), gives the property owner the right to file an appeal on the grounds of unequal appraisal of property. CompMetrics will conduct a comprehensive and detailed valuation study to determine if the property under protest is unequally appraised. An equal and uniform valuation study includes:

1. A review of data, cost schedules, formulas and other information used to establish value as of January 1, by the appraisal district.
2. Using appraisal district’s property tax data to determine the appraisal ratio and the median level of appraisal of a reasonable number of appropriately adjusted comparable properties.

Our valuation analysis for fixed assets includes:

1. Compiling a list of inventories as of January 1, of the assessment year;
2. An elimination of any intangible component of the asset or assets under appeal;
3. An obsolescence and impairment study of the asset or asset class, determination of useful and economic life of the asset or assets, use of an appropriate depreciation schedule for the general asset class; and
4. A general review of the appraisal district’s records to determine any misclassification, under-utilized, idle or ghost asset or assets.

Our valuation analysis for Real Property includes:

1. Market delineation and building classification review of the property under appeal, and a thorough review for error of the appraisal district’s records on pertinent data of the property under appeal;
2. A comparable market data analysis of the market area as of the assessment date, including a review of general supply and demand characteristics such as, rental rates, vacancy rates, absorption rates, cap rates, comparable sales and listing data;
3. A cost approach valuation using the replacement cost new of the building component of the property under appeal, determining its effective age and applying an appropriate age-life depreciation, a rent loss and lease-up costs adjustment for both existing and newly constructed buildings;
4. A reconstruction of income & expense statement to reflect typical market conditions as of the assessment date, determining gross income, operating expenses and net income, and an application of an appropriate cap rate or loaded-cap rate for an income producing property under appeal;
5. A complete verification of the zoning district, land use density, setbacks, lot coverage ratio and other zoning specifications for improved and unimproved properties, particularly for an unimproved property or vacant land under protest; and
6. An application and reconciliation of the most relevant valuation method or methods to determine a fair and equitable value for the property under appeal.

Texas Property Tax Code, Sec 41.41. (a) (2), gives the property owner the right to file an appeal on the grounds of unequal appraisal of property. CompMetrics will conduct a comprehensive and detailed valuation study to determine if the property under protest is unequally appraised. An equal and uniform valuation study includes:

1. A review of data, cost schedules, formulas and other information used to establish value as of January 1, by the appraisal district.
2. Using appraisal district’s property tax data to determine the appraisal ratio and the median level of appraisal of a reasonable number of appropriately adjusted comparable properties.