Next week is the last chance for owners to protest their property appraisals with the Aransas County Appraisal District. The posting of a number of condos for sale could not have come at a better time. One owner called in and had his appraisal immediately decreased by $18,000. There are some benchmark condos that can be used to protest other condo values. The sale prices for 503, 601, and 704 give owners a lot of leverage. The appraisal district considers a furnished condo to have a furnished value of $10,000 over the market value. For example 704 is listed at $134,900 furnished therefore the market value would be $124,900. Other two bedroom units, even those not remodeled, in the 700 building are appraised at $160,000. That's a difference of $35,000.
I don't see any help for the bayside condo owners, but owners in the 500, 600, and 700 buildings should have a good case for lowering their appraised value.