Office

Office valuations across Texas have not kept pace with occupancy reality. We challenge assessments using current income and vacancy evidence, not pre-pandemic assumptions.

ASSET FOCUS
Class A, B and C office, owner-occupied and leased
TYPICAL ISSUE
Stabilized occupancy assumed over actual vacancy
WHAT IT COSTS
Contingent fee — nothing up front

Why office gets over-assessed

Appraisal districts often value office buildings on a stabilized income model built for a market that leased up faster and at higher rates than the current one. Vacancy, concessions and tenant improvement costs have all shifted in a lot of Texas submarkets, and a model that hasn’t caught up produces a value that has less and less to do with what the building actually earns.

Common Errors We Look For

Stabilized occupancy over actual vacancy

A model built on a stabilized occupancy figure can significantly overstate income for a building that’s carrying real vacancy. Rent rolls and leasing history can show the difference between what a building is modeled to earn and what it actually collects.

Face rent used instead of effective rent

Free rent, tenant improvement allowances and leasing commissions all reduce what a landlord actually nets from a lease. Valuing a building on its quoted rent, without netting out what it costs to get a tenant signed, overstates income.

Functional obsolescence in older buildings

Floor plates, ceiling heights, elevator capacity and mechanical systems in older Class B and C buildings can limit what tenants will pay compared to newer product, even in the same submarket. A model that treats all office space as interchangeable misses that.

Single-tenant and owner-occupied buildings valued as investment product

A building leased to one tenant, or occupied by its owner, doesn’t carry the same market risk profile as a multi-tenant investment asset. Valuing it the same way can miss what the market would actually pay for it.

What We Do

We review the property’s leasing and income history against the district’s model, request the district’s own evidence, and file the protest inside the statutory window. Most cases settle at the informal stage. If they don’t, we present the case at the Appraisal Review Board (ARB) hearing, and if the board’s value is still too high, the appeal continues in district court or binding arbitration through Estes & Banks, P.C.

Need Assistance?

Send us the property and we will take a look.
Call Us
214.919.8700
E-mail Us
info@estesbanks.com
Office Address
2323 Bryan Street Ste. 2100
Dallas, Texas 75201
Full List of Industries
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No Upfront Cost

We work on a contingent fee. There’s nothing to pay up front, and if we don’t reduce your value, you owe us nothing for the protest.

When the purchase price hurts, the best case may be an equity case rather than a market case. Choosing the wrong theory does not just weaken an argument — it can put the district’s strongest evidence into your own record.

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This page describes our services in general terms. It is not legal advice, and the right approach for any property depends on its specific facts. Results vary based on many variables; past results do not guarantee a similar outcome.