Posted on 08/07/2018 3:53:49 PM PDT by Elderberry
The owners of a dozen commercial or industrial properties have filed lawsuits against the McLennan County Appraisal District, challenging this year’s appraisals as unfair, excessive and not equal to similar properties.
Mars Chocolate North America, formerly M&M Mars candy company; Wrigley Manufacturing, a Mars subsidiary; Walmart and its subsidiary, Sam’s; Hollywood Theaters; Walgreens; Harvest Lakeshore Estates Retirement Center; Brazos Village Apartments; and Grayhawkesdene L.P. are among companies that have filed lawsuits since the middle of June challenging their appraisals.
“It is pretty much a common thing,” Drew Hahn, MCAD chief appraiser, said of the lawsuits. “We will have to look and see if there is anything that we feel is different about them versus anybody else, or if there have been changes in their property, and if we need to we can make adjustments. We will just have to check it out.”
The MCAD review board heard 18,639 property appraisal protests this year, compared to 15,422 the previous year. Seventy-one lawsuits were filed against MCAD in 2017, according to MCAD figures.
Joe Don Bobbitt, assistant chief appraiser, said property owners have 60 days from the date of receiving appraisal notices to file a lawsuit.
Retail giant Walmart is suing over appraisals on its McLennan County locations, including 600 Hewitt Drive, appraised this year at $13.5 million, up from last year’s $11.2 million; 1521 Interstate 35, $11.7 million, up from $10.9; and 4320 Franklin Ave., $12 million, up from $10.5 million in 2017.
Other Walmart locations included in the lawsuit are Sam’s, 230 E. Waco Drive, $58.5 million, up from $58 million; a Supercenter at 733 Sun Valley Drive, $14.1 million, up from $12.8 million; and a return center at 2301 Corporation Expressway, $7.5 million, up from $7.4 million.
(Excerpt) Read more at wacotrib.com ...
Chip, and Joanne singing Dang if ya do, and Dang if ya don’t.
The Sams sounds really high compared to the Walmart Supercenter about a mile away that look to be about the same size. The only difference that’s easily spotted is that the Sams does have more frontage on major roads. Taxing by front foot?
Hot damn a 15-20% increase in one year? That’s pretty big... And Waco sure isn’t NDallas, so you can’t say values are skyrocketing cause everyone and their mother is moving in..
Its not that values are skyrocketing, its that they are facing so many civil suits, and they need to raise the money.
Yup, that’s my point. Waco isn’t providing the value to cause the increase, they’re forcing the ‘value’ increase to cover the $$ they need. And the issue is that they’re claiming that value increase (that isn’t real) instead of just raising the rate. So that’s where these companies can fight this - their land value isn’t actually going up like the city’s appraisals claim.
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