The Blanco County Central Appraisal District has formally answered a lawsuit filed against the District by the PEC. The PEC claims in their lawsuit that its real property was valued in excess of market value by the Appraisal District.
“State law requires the Appraisal District to appraise property at its market value as of January 1 of each year”, said Chief Appraiser Hollis Boatright. “All of our evidence indicates that the value assigned to the property owned by the PEC accurately reflects its market value.”
The Appraisal District used a private appraisal firm to assist in the valuation of the utilities in the district. The utilities include telephone companies, pipelines, cell tower sites, and the PEC. Boatright explained that tax appraisal is a process that involves the gathering of information from many sources to ascertain the proper valuation of a given property. This includes comparable sales and replacement costs when comparable sales are not readily available.
If a taxpayer is not satisfied with their appraised value, they can take their case before the Appraisal Review Board. The Appraisal Review Board is an appointed body that considers valuation evidence presented by the taxpayer and the Appraisal District and makes its own determination of the proper market value. The Appraisal Review Board ruled based on the evidence presented that the Appraisal District values should remain the same. This prompted the PEC to file its lawsuit.
“It is unfortunate that it came to this, but taxpayers do file suit occasionally; it is the final step in the process,” said Boatright. “The PEC is a valued taxpayer in this county, and I am confident that this matter will be resolved quickly.”