Regional Mall

HOUSTON, TEXAS

Original Assessed Value $286,612,512
Final Assessed Value $280,297,581
Tax Savings $171,424

 

During the appeal process a reduction was awarded based on adjustments to fee simple market rents as well as stabilized cash flows based on occupancy rates closer to the norms realized by typical assets. The income stream was also adjusted to reflect income to the real estate while excluding income from personal property or other intangibles. The case is currently pending a District Court determination with a potential additional tax savings of $760,000.