Patrick C OConnor has been president of OConnor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes He continues to set the standard in direction and quality of our appraisal products, adding ser
The appraisal division of O’Connor & Associates is a national provider of commercial real estate appraisal services including cost segregation studies, due diligence, insurance valuations, residential property appraisals, feasibility studies, financial modeling,
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Many restaurant owners have been shocked to learn that they are unable to sell or lease their restaurant property for an amount equal to its tax assessment value. The market value of a recently built restaurant is usually less than its construction cost. When an owner attempts to set a sales price o
Yes, we are going to ask them to improve the deal once more. (Well, don’t you want the best possible apartment at the best possible price?) Call the leasing agent and tell her you are interested in the property. Ask if they can improve the terms or price on the feature that is most important t
Thousands of Texas homeowners will go through the property tax appeal process this year because the appraisal district incorrectly assessed their home’s value. Sometimes getting a satisfactory reduction takes some time, but it is important to u
The countdown to May 31 - the last day Texas homeowners can submit an appeal to protest their property taxes - is growing closer by the minute. Each year, Texas homeowners pay a collective total in the millions on their property taxes. Yet, there is a 70% chance of lowering taxes when an owner appea
Most people see new home construction in their neighborhood as a good thing. New homes typically help increase the market value of properties, so when someone in an older home goes to sell, they often can ask a higher price than areas without new construction. But too often the county takes that a s
Commercial comparable sales analysis is the technique most often utilized to value land. Valuing the land is often more difficult than valuing improved properties since the appraiser cannot consider all three approaches to value. In most cases, the sales comparison approach is the only meaningful op
Business purchase price allocation is necessary following the purchase or sale of a business. The purchaser needs to allocate the total purchase price to establish their books for the purpose of calculating amortization and depreciation. The seller needs to allocate the price to calculate their
For many homeowners, the property tax appeal process can seem too difficult and therefore only about 8% appeal even though 70% of those who do appeal are successful. Most homeowners also do not realize that their appeal can be resolved at the informal hearing. Here are some tips on attending an info
Commercial comparable sales data is essential for Austin real estate professionals in making reasoned decisions regarding buying, selling and financing real estate. Accurate and timely commercial comparable sales data provides investors, brokers, lenders and appraisers the edge and advantage they ne
Homeowners are amazed to learn they can obtain a copy of the appraisal district’s evidence at a nominal cost. This is referred to as a House Bill 201 package, and is the only information many homeowners use to successfully reduce their property taxes.
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