Commercial property taxes can be one of the largest expenses your business will face in 2017. While it is good for business when your property value is appreciating, it can also cost you when it comes time to pay your property taxes. To make sure you’re paying a fair tax bill, it is essential that the valuation of your property is fair and accurate.
HCAD (Harris County Appraisal District) will assess the value of your property on January 1st each year to determine what your tax bill will be. This is an extremely important day on your calendar, especially if your commercial property is in a construction or renovation process. To make sure your property is assessed fairly as it stood on January 1st take these two essential precautionary steps to assist your case should you require an appeal due to an unfair valuation:
Take photos of your property as it stood on January 1st.
Keep detailed and accurate documentation regarding construction costs.
The HCAD cannot make it to every property on January 1st of each year. Meaning if they don’t get to your changing property for a month or two, the tax assessment could become a guessing game. Keeping accurate records of your property’s transformation will allow your tax protest process to go smoothly. It will also result in as fair an assessment of your property value as possible. If you have any questions in regards to keeping and maintaining these records, or any other questions, give us a call today! 281-880-6500