Appraisal district seeking commercial property info
CAMERON—Milam County Appraisal District is in the process of reviewing property values for the 2011 appraisal roll. Commercial property owners were mailed an income survey letter to aid the district in developing pricing schedules.
“ The letter provides the taxpayer direct input into the valuation of commercial property in our county,” Chief Appraiser Patricia J. Moraw said. “ The rendition helps the appraisal district appraise property fairly and accurately. It also gives the owner the opportunity to participate in the valuation of their property.”
The district is charged to have evidence to support the values placed on all property types. Due to the limited number of commercial property sales in our count y, the district w ill appraise commercial improvement using the cost approach to value. The district is requesting the information to help develop accurate appraisals.
“Without local data, we may be forced to use statewide appraisal and income data which is not always a true indication of our local market,” Moraw said.
The data requested will enable the district to evaluate the current local economy in the valuation process. The district will continue to review the effect of the national declining economy.
“All information provided will be used in a county-wide study of similar properties and not to evaluate individual properties,” Moraw said. The information is considered confidential and not available to the general public.
Information received by March 23 will be considered for the 2012 appraisal schedule.
For more information contact either Dyann White or Lawrence Knight at Milam County Appraisal District at 254- 697- 6638 or 800-772-4457.