Property Taxes in the Permian Basin

Posted By: William Ryan

 Permian Basin, TX

The multi-family property values have been sent for Ector and Midland Counties.  SPOILER ALERT – the values skyrocketed.  In Ector county, the majority of values doubled from 2018, and in Midland some values even tripled. 

The sad consequence of these increases is that your property taxes are now projected to double or triple.  Since budgets were prepared last year before this increase was anticipated, it is likely that most budgets will be unprepared to handle the enormous property tax increase.  For example, one multi-family property we represent in Odessa paid $219,438.40 for 2018 property taxes.  This year, as currently noticed, the 2019 property taxes are estimated to be $440,454.76.  How would you handle such an increase on such a short notice?

You can fight this increase through an appeal of the property value, but time is quickly running short.  In Ector County, a timely protest must be filed by May 30th, while Midland County requires taxpayers to file a protest by June 10th.

Wayfinder Tax Relief is a proud member of the Permian Basin Apartment Association specializing in reducing multi-family property taxes. We are experts in this industry, and we work hard to lower our clients’ tax liability. Please give us a call at 480-616-1025 or send an email to William@WayfinderTaxRelief.com for a free, no obligation consultation to see if we can help you reduce your 2019 property taxes.

 

 

               William Ryan, CPA, CMI

               President/Founder

              Wayfinder Tax Relief