By now you all have received notification from the Galveston Central Appraisal District that our property taxes are on the rise. After reviewing the notification closely and preforming some, what were once basic, mathematical calculations I realized the increase they are requesting is approximately 43%.
If you examine your notification you will see the increase is only applied on the "Improvements (Building) Appraised Value" line. I took the difference between last years number for "Improvements (Building) Appraised Value" and this years number for "Improvements (Building) Appraised Value" and divided it by last years number for "Improvements (Building) Appraised Value". I got .4289 or a 43% increase in the "Improvements (Building) Appraised Value" proposed for this year. I am not sure that this is a reasonable increase.
This Year - Last Year = X
Last Year divided by X = percent increase
I would like to hear what others are thinking about this increase. I plan, at a minimum, to fill out the "Property Tax - Notice Of Protest" form that came with the proposed increase notification. I am wondering if we are better off approaching this as a group or individually. On one hand the Appraisal District must think of all units in a complex as equal; On the the other hand I know of at least one individual (not living in our complex) that went down to their office and claims her total increase was wiped away.
Anyway, let share some thoughts here....
Jay
