Momentum - Business to Business Online Magazine MOMENTUM March 2018 | Page 15

Taxing Matters

Self Help After Harvey

By : Cheryl E . Johnson , PCC Galveston Co .
Tax Assessor Collector cheryl . E . Johnson @ co . galveston . tx . us
When disaster reappraisal to reduce 2017 tax burdens failed to be requested by any government in Galveston County , help after Harvey became your burden . One of the most important things to be aware of this year is that there is a NEW deadline to set up an appointment with a CAD appraiser or to file a formal or online protest - May 15 , 2018 . Here are some quick tips to help you prepare : 1 . Gather after storm information of your damage ( likely same as provided to FEMA , insurance companies , SBA , etc .) along with any estimates or bids and photographs . This is a good starting point on which to build the remaining items .
2 . Define the January 1 condition using any bids obtained or estimates ; have contractors note the status of each repair as of January 1 – what was complete and what remained to be done . If you have photographs to support that status , keep them . Cell phone photos can be emailed to the CAD or provided to appraisers if you are unable to print them .
3 . Be prepared to discuss the impact of Harvey on other properties on your street or in the neighborhood ; what were water levels in various areas , etc . Remember that your value is based on the CAD defined “ neighborhood of properties ” and that no one knows the impact of Harvey on the area better than you .
4 . Your property is valued based on sales and some properties may have been sold since the storm to investors . What was their status during the period they were sold – did the owner walk away , perform any demolition , etc . Are they repaired now or still under construction ?
Although I cannot predict what adjustments GCAD will make for flooded properties – I know what the law provides and that is for you to be taxed based on the January 1 value and condition . GCAD will likely start with the 2017 value and deduct the value of incomplete repairs but could be more ( or less ) generous than that .
One thing to keep in mind is that reductions will not be dollar for dollar . If the property was valued below market ( perhaps due to its age and condition ), reductions will be proportionate . For example , a family in Bay Ridge Subdivision with $ 200,000 in demolition and repair costs may have a large reduction in improvement value but , if the 2017 GCAD value ( both land and improvements ) was $ 170,000 , only the improvement value will be reduced and any remaining structure will contribute some amount of value .
Email your photos and repair estimates to harveydamage @ galvestoncad . org . GCAD will send a confirmation email upon receipt and will consider the information when preparing the appraisal roll and notice . Call GCAD toll free at ( 866 ) 277-4725 or ( 409 ) 935-1980 with questions specific to your property .
The full impact on values as a result of Harvey will not be known for a couple of years when a sufficient number of properties are repaired and sold . Sellers of properties that flooded must disclose that to potential purchasers and that will have an effect on marketability – thus value . Properties that didn ’ t flood may increase in value if the market supports that in the future ( meaning a sufficient number of sales occur within the neighborhood of those properties within a specific time frame ).
Final self-help tip – take a deep breath . Recovery is a marathon - not a sprint . The annual classes I teach on how to effectively protest your value will go more in depth and prepare you for the process but planning now and gathering the information listed will give you a good head start . See the class schedule below . Registration is not required . All classes start at 6pm
05 / 01 League City Council Chambers , 
 200 W . Walker , League City
05 / 04 Learning Resource Center , Room L-131 , 
 College of the Mainland , 1200 Amburn Road , 
 Texas City
05 / 15 Commissioners Courtroom , 
 1st Floor , 722 Moody , Galveston
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