What was more important than the cocktail hour at the Jan 11 TXCPA Houston 2022 Tax Expo!

It promised to be a long day as most day-long conferences turn out to be when everyone is looking for a relaxing cocktail hour at the end to network and make new business connections. But wait, not so fast.?

First came an important presentation by ITC’s Mark Dzeda scheduled late in the afternoon preceding the afore-mentioned cocktail hour. The turnout was unexpectedly high as the topic or topics of Mr. Dzeda’s presentation were on everyone’s mind:

COVID, Supply Chain Disruptions, Inflation... Do you need more headwinds before you act on your 2022 Property Tax Assessment?

The complexity of the presentation title was handled admirably by Mr. Dzeda as he enlightened his audience about various symptoms of valuation models which can negatively impact a business or company resulting, ultimately, in having to pay higher than necessary property taxes.

He further elaborated on the three approaches to value and a favorable cost approach by using case studies to back his theories.

Nearing the end came informative answers to the current state of the business climate and possible solutions of how to behave in a new “normal” economy going forward.

Mr. Dzeda also talked at length about economic obsolescence, a form of depreciation where the loss in value or usefulness of a property is caused by factors external to the property. (Source: American Society of Appraisers)

In conclusion, Mark Dzeda had the following recommendations:

Review your assessments. Ask yourself, has the Appraisal District considered all the current and present influences and characteristics of value to YOUR property’s assessment?

Following a lively Q & A session, most everyone went on to enjoy a well-deserved cocktail.

For a copy of the presentation, email [email protected]