IRO- Independent Rental Owners Open Meeting

Program Title: Property Tax Assessments: Historical Context and Future Expectations.

Speakers: Clayton Knowles and Steve Lewis, CMI Property Tax Consultants

This program offers an in-depth analysis of property tax assessments, focusing on historical trends and future expectations, specifically for properties under the Dallas Central Appraisal District (DCAD). The session will explore key property classes, their median value changes over the past five years, and anticipated trends in the coming years. It will also provide insights into how property assessments tend to lag market trends and the likely effects of litigation on 2024 appraisal values.

Key Topics Covered:

• Historical Trends: A review of annual average increases in median property values across different property classes (A+, A, B+, B, C+, etc.), noting consistent growth patterns and the latest 2024 Appraisal Review Board (ARB) values.
• Future Forecasts for 2025: Assessment predictions for various property classes, highlighting expectations of flat to modest growth and the unique impact of each property's Net Operating Income (NOI) on its future assessments.
• Tax Rate Outlook: A breakdown of expected reductions in tax rates for 2024 and 2025, driven by new construction and reductions in school Maintenance & Operations (M&O) tax rates. Special emphasis will be placed on projected decreases in city and county tax rates in light of slower economic growth.
• Legislative Impact: An overview of anticipated actions by the Texas legislature that may further compress school M&O tax rates, potentially leading to historic decreases in property taxes payable for the first time in 25 years.

The session will also feature insights from "The Cantrell Report," discussing the challenges posed by flat or declining rents and occupancies across various multifamily properties, as well as market trends and potential tax reductions.

Audience: This program is ideal for real estate professionals, property owners, investors, and anyone involved in the multifamily property market who seeks to understand how property tax assessments and tax rate trends may evolve in the coming years.

Join us to explore how these changes will impact your portfolio and learn strategies for navigating the complexities of property taxation in a shifting economic landscape.

Networking Opportunity

Grab lunch and take the chance to connect with fellow Independent Rental Owners and members starting at 11:30 AM. The program will begin at 12:00 PM.

CANCELLATION AND NO-SHOW POLICY:

Lunch is included and is ordered 48 hours before the event. If you can no longer attend this meeting, we ask that you notify membership@aagdallas.com 48 hours before the event. All no-shows and cancellations within the 48-hour window will be charged a $15.00 fee. For questions, contact membership@aagdallas.com will incur a $15 fee.