💡 Houston CRE: Watch Out for Hidden Tax Increases 🔍
By: Bill Rapp - Commercial & Residential Mortgage Broker Published on: 14/10/2024
Hey, Houston CRE owners, we dodged a bullet! 🚨 It looks like we avoided a hefty property tax increase after the state announced it would deliver $50 million in disaster relief funds to help recover from May’s derecho and July’s Hurricane Beryl 🌪️. For a moment there, commercial property owners were staring down a potential tax rate increase of at least 3.2 cents per $100 of assessed value! On a $10 million property, that could have meant a whopping $3,200 more in taxes per year. 😳
Bill Rapp, Commercial Mortgage Broker
