The Dallas Country Club is Now Worth $36 Million, DCAD Says. Cue the Lawsuit in 3 ... 2 ...
Around this time last year, the Internet had a collective chuckle when the Dallas Country Club sued the Dallas County Appraisal District, hoping to lower its annual property tax bill. The county appraisers had valued the club's 118-acre property in the heart of the Park Cities at around $15 million, good for a reported $270,000 tax bill. The club argued that the real value was closer to $10 million.
Considering nearby home prices -- there's a less-than-half-acre manse listed for $7.5 million across the street -- both valuations seem laughably low. Then again: Under state law, the land used by country clubs can only be valued based on its current use, rather than what it might be worth if sold on the open market. Plus, when DCAD appraised the club last year, DCC's stately new clubhouse, a reported $27 million project, was still under construction.
Not this year, though.
The ribbon's been cut on the club's new digs, and DCAD has responded by upping the club's valuation to a more-reasonable-sounding $36 million, with an estimated tax bill of $721,000, records show. DCC has until June 21 to protest.
It probably will. And depending on the outcome, there's a good chance it takes DCAD back to court. The club has saved $15 million over the years by filing six similar lawsuits, the News reported last year. (I reached out to the club and its attorney but haven't heard back.)
The lawsuit over the club's 2011 valuation is still in settlement negotiations, court records show. If history is any indication, everyone should probably get comfortable at that negotiating table.
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