Not only could they not sell all the condos (as they stated they could), some were foreclosed on.
Now, the tenants have found out how much the developers are making off the tax assessment alone. They're pretty pissed. Wonder how pissed they'll be when they figure out the rest of the story?
Montgomery Plaza has a long history with the Trinity River Vision. Someone should look into that. Especially if they live in the sights of Trinity River Vision. Or in the heart of its TIF boundary.
Wake up. You're next.
Read about the TAD fiasco in the Fort Worth Star-Telegram. YOU can't afford to miss it.
The fight erupted after condo owners learned a secret: Similar-size condos are getting much different tax appraisals.
In Tarrant County??! You don't say.
Condos owned by the project's developer, 2600 Montgomery Llc., are assessed at much lower values than homeowners' units -- sometimes half as much. It's a sweetheart deal, some condo owners say, and it means a hit of thousands of dollars in property taxes for those shut out of it.
There's those 3 letters again, "Llc". The "developers" own almost half of the condos. Some would say those boys should be taken behind the Woodshed. In Tarrant County, that has a whole different meaning.
"How that comes across as equitable and fair or uniform is frankly a mystery to me," husband David Ekstrom said.
You'll see why this important line is buried down later in the story in the paper.
TAD not only had the values wrong, Ekstrom told the appraisal review board, but also had the sizes of some homes wrong. Some condo owners, for example, bought two condos but are being appraised for one, she said.
Another governmental agency had their "values" wrong? And it took another average citizen taxpayer to point it out. Kudos, ma'am.
Under state law, TAD is required to set assessed values that are fair, equitable and uniform.
See above statement from Mr. Citizen Taxpayer.
The tax dispute is another example of injustice, Slattery said. "It was grossly unfair," he said.
And don't miss this from the comment section, lookthisway knows what's up and WHO pays.
You live in Texas the home of the big business give away. How do you think Ft. Worth can continue to give away tax money if they can't get it...not from business but from the middle class. Texas is in for a financial meltdown within the next 5 years. Too much borrowing and spending by the Republicans in Austin, Ft. Worth and Tarrant county. Someone is going to have to pay and it won't be the wealthy or business.
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