Property tax valuations have risen in Dallas-Fort Worth this year for apartments, hotels and well-located land — reflecting activity in the real estate market.
The valuations are dependent opon the class of the apartments, or the revenue of the hotels, but appraisal districts are upping the value of these properties, said Amish Gupta, chief operating officer at Real Estate Tax Consultants Group.
The firm, which is headed up by Gupta's father, Virendra K. Gupta, reviews property tax valuations for about 5,000 properties each year.
"In 2012, we are anticipating that property values will be back up this year, especially for multifamily and hospitality properties," Gupta said. "The biggest mistake a property owner can make is not looking at their property taxes."
Read more...Property tax valuations rise for some apartments, hotels - Dallas Business Journal
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