Multifamily Property Taxes in the Covid-19 World

William Ryan Apr 09, 2020
2 min read
Multifamily Property Taxes in the Covid-19 World

3 Points to Keep in Mind When Appealing

Right now, the safety of your team members, residents, and the uncertainty resulting from this pandemic have likely pushed property taxes to the far regions of your mind. Not to worry, we exist to handle your property taxes so you can rest assured they are being addressed while you handle the critical issues facing your company.

Rising unemployment and government-mandated stay-at-home orders have a real impact on your residents and their ability to pay rent, directly impacting your gross income. Government restrictions have limited the ability to address non-payment and much about this year remains uncertain. One certainty, PROPERTY TAXES will come due regardless of how your property performs.

Whether you engage a tax consultant or appeal your own properties, here are three important points to keep in mind when protesting your valuation this year:

1. How are the current conditions impacting your rent collections?

2. Have your expenses increased due to higher usage or restrictions?

3. Last year property sales may not correctly reflect the market valuations today.

It is more important than ever that you engage multifamily property tax specialists to represent your properties and combat the rising property valuations. Reductions to your property valuation will directly impact your taxes and affect your bottom line, helping your cash flow when you need it most.

Wayfinder Tax Relief, LLC is the #1 multifamily property tax specialist in the industry. They focus solely on multifamily properties and are at the cutting edge of the industry change. They are involved in many local apartment associations and are members of the Texas Apartment Association and the National Apartment Association.

Who Sets My Property Tax?
Tax Bills are Made up from Many Taxing Jurisdictions Should I Blame the Central Appraisal District?  When Texas property tax bills come out in October, your first response may be that they are too high. Property owners want to blame the Central Appraisal District (CAD), the entity that sets their property values. In this case,... Read more »
Read More
Will an Appeal of my Noticed Value Really Make a Difference?
The Impact to You As a multifamily property owner in Texas, you have most likely received a “Notice of Proposed Value” from your local county appraisal office and wondered whether to appeal that value. If you have never appealed this value, you may be unaware of the benefits that a successful (and even an unsuccessful!)... Read more »
Read More
Filing a Protest of Noticed Value
What Does it Mean to Me?  Every year, multifamily property owners receive a proposed notice of value for the properties they own. Left unappealed, this proposed noticed value will become the taxable value of their property for the current tax year. Many owners ignore these notices or simply approach it indifferently. They often ask, “Why... Read more »
Read More
Arrow Icon