Business And Home Values May Be Down, But Taxes Are Up
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Business And Home Values May Be Down, But Taxes Are Up
Home values may be down and business may be slowing, but property owners in one Central Texas county are receiving tax bills this week that are higher than what they paid a year ago.
Reporter: By Matt Felder
Email Address: matt.felder@kwtx.com
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(October 16, 2008)--Residents in Bell County are heading to their mailboxes this week to find their property tax bills have arrived, but even in this economic downturn property owners are finding their taxes have gone up.

Several business owners in Killeen say they are seeing their taxes double and even tripled since last year, all while money coming in continues to drop.

What is happening is the appraised property values that people are getting taxed for now were determined back in January.

Since then, the economy has slumped and many of these small business owners are left wondering how they will be able to keep their doors open.

Since summer rolled around, hotels in Killeen have seen a drop in business, but what hasn't dropped is the property tax.

Brian Han owns the Motel 6 in Killeen.

His bill was $91,000, triple what he paid last year.

"This is all my life and if I pay a $90,000 property tax, I don't have the money," he said.

Han is not alone.

Quality Inn owner Sam Punnan's taxes doubled from a year ago, forcing him to make cuts wherever he can.

"Bonuses for my employees, that's not going to happen this year at all,” Punnan said.

“Room rates are coming down. Revenue is coming down."

However, expenses keep rising, including the minimum wage, all while many rooms remain vacant.

The controversy with the higher taxes comes as property appraisals are set in January of each year.

"Prevailing market conditions on January first of 2008 are different then they would be say today, because obviously our economic downturn, things have changed, “ said Marvin Hahn with the Bell County Tax Appraisal District.

Most homeowners also saw an increase, but it seems to be less of a shock.

"We just have to adjust to know when to pay them and when you have the money,” Debbie Elliott said. “You just have to learn how to do your budget so you can pay your taxes."

That's easier said than done for Brian Han, who's 2008 property tax bill asks for more than he made the entire year in 2007, leaving him to wonder if the doors will be shut on his lifelong dream.

"Desperate, like hopeless. That money that I need to pay to the county government, that's more than what I made,” Han said.

The time to file a protest on a tax bill has, for the most part, passed.

There are certain conditions that could allow a property owner to file at this point.

Some of these business owners have, while others are trying to work with the appraisal office to develop some sort of payment plan.


Latest Comments

Posted by: Just sayin is all Location: Ft Hood on Oct 17, 2008 at 10:04 AM

And if he gets elected its going to get worse. For everyone... But if the Tax is JUST being sent out, how can the deadline to file and appeal be over? I feel bad for Mr. Han. $91,000.00 for a motel 6? This county (town) is getting rediculous and is about to crash from the weight of thier own greed.
[ Report Abuse ]
Posted by: hadnuff on Oct 17, 2008 at 08:06 AM

sounds like Nobama has already taken office.... TAXES
[ Report Abuse ]
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