Keeping You Appraised of Rising Land Values Downtown
As expected, the new appraisals from the Dallas County Appraisal District on 13 parcels owned by Chavez Properties was a small sample of a massive increase in appraised values downtown. A random sampling of downtown appraisals, conducted using DCAD’s Web site, shows a consistent revaluing of parcels from $30 and $40 per square foot to $100 per square foot. Its site now includes a “How do I protest?” box where landowners can find out how to fight the new appraisals. We’re thinking DCAD better get ready for an onslaught of complaints.
The Dallas Morning News continued playing catch-up with Unfair Park, publishing another DCAD story this weekend after our post on Friday. The story even included a chart of the Chavez appraised values that we provided on Thursday.
One thing we’re certain of: The News won’t be talking about its own land interest near the convention center hotel, where Belo owns nine investment properties. Each one of those nine parcels went from $40 per square foot to $100 per square foot. The 5.2 acres of land were previously appraised for $9.2 million, and now they’ve soared to $22.8 million -- nearly a 150 percent increase. --Sam Merten
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