Dallas, TX
Commercial Property Tax Appraisals Soar by 21% in Dallas County
Add sky-high assessments to the list of challenges facing commercial property landlords in the Dallas area.
Commercial valuations in Dallas County have risen by 21 percent since last year, despite evidence of a sluggish market, Bisnow reported, citing the Dallas Central Appraisal District.
There were double digit increases across all commercial sectors, although some asset classes were hit harder than others. The soaring valuations, unveiled in preliminary assessments, marks a stark contrast to the actual market conditions perceived by property owners.
“I’m not shocked by the fact that notice values were higher because the appraisal district tends to be aggressive,” Meritax Advisors partner Ryan Chismark told the outlet. “However, I’m disappointed that they’re higher because of where we actually are in the market.”
Commercial property sales plummeted by 58 percent last year amid rising interest rates, tight lending standards and widending buyer-seller discrepancies. The lack of recent comparable transactions has led appraisers to rely on outdated cap rates, drawing criticism from property owners and consultants.
Industrial properties have seen the largest increase over the past year, estimated at over 50 percent on average, with some lower-tier properties doubling in value year-over-year. Chismark suggests that the surge in industrial values may stem from historical undervaluation, prompting the district to recalibrate assessments.
Multifamily and retail properties also experienced hikes of 20 percent and 10 percent, respectively. Even for the struggling office sector, which is still grappling with soaring vacancies amid the remote-work era, valuations are 5 to 10 percent higher than they were a year ago.
Jon Redmond, manager of the U.S. real property tax division at Altus Group, was surprised by the relatively modest rise in retail values, given the sector’s steady recovery from the pandemic.
“Even in a terrible market, we are always going to protest,” he said. “But I don’t think [retail owners] will have the sticker shock that office or industrial clients will.”
The protest and litigation process routinely results in lowered assessments, with over $9 billion shaved off preliminary assessments last year alone. Chismark is optimistic that despite the anticipated contention, most owners will eventually find acceptable resolutions with the central appraisal district.
—Quinn Donoghue
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Dallas, TX
The Last Word: Dallas Billionaire Tom Dundon on Why He Bought and 'Fixed' an NHL Team
Tom Dundon
Owner of the NHL’s Carolina Hurricanes
.…The Hurricanes fit both of Dundon’s criteria, says Sports Business Journal.
Dundon, the chairman and managing partner of Dallas-based Dundon Capital, became the majority owner of the NHL’s Carolina Hurricanes in 2017, three years after he took Dallas-based auto loan giant Santander Consumer USA public with an IPO that raised $1.8 billion. He’s also a co-owner of the PPA Pickleball Tour—which merged in March with Austin-based MLP by Margaritaville—and an investor in Pickleball.com.
So you’d think he loves to watch his players in action. But that’s not the case, he told Sports Business Journal’s Ben McKeown, for one big reason: “The chance you might lose.”
Losing has become less of a factor for the Hurricanes since he bought them, though (they’re currently leading the New York Islanders 3-1 in the Stanley Cup playoffs). The SBJ’s profile of Dundon credits a lot of that success to the billionaire’s “calculating nature” as a “super competitive” owner who does “whatever it takes to win.”
Now Dundon is stepping up to the plate for something else, the SBJ reports: potentially being a lead investor for a group that wants to bring a Major League Baseball team to North Carolina.
You can read the SBJ story on Dundon here.
For more of who said what about all things North Texas, check out Every Last Word.
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Dallas, TX
How did the Dallas Cowboys grade out in the 2024 NFL draft? Marks are all over the place
The Dallas Cowboys 2024 draft saw them prioritize rebuilding their offensive line while completely passing on their other big need, running back.
That seems to point toward them signing Ezekiel Elliott in the next few days as they retool the team that won a division championship last season but then flopped in the playoffs.
Dallas will need several members of this draft class to plug into starting roles next season. Did the Cowboys draft well enough to do that?
Here is the class:
Here are some grades from around the net, and they are all over the place.
NFL.com’s Chad Reuter: A-
“Gaining a third-round pick in a move down the board and still landing a starting tackle made for a successful Thursday night for Dallas. Kneeland and Beebe should prove to be excellent values, while Liufau will be a solid addition to the middle of the Cowboys’ defense. The Notre Dame ‘backer was picked a bit early for my taste, though.”
ESPN’s Mel Kiper: B-
“Not bad. The Cowboys were able to trade down five spots in Round 1, pick up an extra third-rounder and still get their guy. Tyler Guyton (29) is going to get a chance to be their starter at left tackle, and from what I see on tape, I think he can make the move over from the right side. He has special ability as a pass-protector and can get to the second level in a hurry in the run game.”
Bleacher report: B-
“Give the Dallas Cowboys credit for trading back in the first round, getting an extra Day 2 pick in the process and still filling a vital need. Oklahoma’s Tyler Guyton may need some time to develop, but he has the potential to become Tyron Smith’s long-term replacement at left tackle.”
Fox Sports: B
“For a team that had so many holes to fill after they did nothing in free agency, the Cowboys made some curious choices. They did a great job plugging two key holes on the O-line (Oklahoma LT Tyler Guyton in Round 1 and Kansas State C Cooper Beebe in Round 2). But no running back? No receiver until Round 6? Instead, in Round 2, they took Western Michigan edge rusher Marshawn Kneeland, who could be terrific in 2025, but might not be a huge help now, when they’re supposedly “all-in.”
CBS Sports Chip Trepasso: C
“I, personally, am not sure what the Cowboys are doing. Ok, well I do know they stood by their word and attempted to rebuild the offensive line. I commend that. I loved Beebe in Round 2 and particularly Thomas in Round 7. Guyton is very much a project who doesn’t quite play to his workout. Kneeland is another project-y type who never came close to dominating in the MAC.”
The Ringer: A-
“The Cowboys ate their vegetables in this draft, grabbing a trio of tough and physical trench players with their first three picks. Dallas added a highly athletic offensive tackle in the first round in Tyler Guyton, who’s raw but moves exceptionally well and could emerge as their future blindside stalwart. I loved the Marshawn Kneeland pick; he’s an explosive, long-levered pass rusher with great size and a solid repertoire of pass-rush moves and will complement Micah Parsons well on that defensive front.”
Bret Bloomquist can be reached at bbloomquist@elpasotimes.com; @Bretbloomquist on Twitter.
Dallas, TX
Mavericks’ Luka Doncic addresses his health, knee soreness after Game 4 vs. Clippers
Hobbled by an unspecified right knee injury, Mavericks’ Luka Doncic clearly hasn’t been his usual dominant self in this first-round playoffs series — not up to his standards in past games against the Clippers, regular-season and playoffs.
After Los Angeles’ 116-111 victory on Sunday afternoon in American Airlines Center, tying the series at 2-2, Doncic’s drop-off is most glaringly reflected in his statistics. He shooting 38.6% from the field, including of 13-of-49 (26.5%) on 3-pointers.
It’s clear Doncic’s defensive falloff since he sustained the knee injury during the first quarter of Game 3. Doncic was whistled for two fouls in the first 2:23 of Game 4 as he struggled to stay in front of Clippers attackers, a pattern that continued through the game as Los Angeles hunted him.
“It’s hurting, obviously, but it shouldn’t be an excuse, man,” Doncic said. “We just came out a little sloppy. We’ve got to do way better than that.”
It might seem like quibbling after a game in which Doncic had a triple-double — 29 points, 10 rebounds and 10 assists. But anyone who has watched Doncic throughout his career, this season especially, knows he isn’t his usual self.
On Sunday he shot 10-of-24 from the field, including 1-of-9 on 3-pointers.
When asked specifically about his ability to move laterally and how that affects his defense, Doncic acknowledged it’s a problem. He was assigned to guard Amir Coffey, but Clippers star James Harden hunted Doncic in pick-and-rolls.
“I mean, yeah, I was in foul trouble,” Doncic said. “We said we wanted to try to limit Harden’s 3s. I was just trying not to give him 3s. Obviously, it wasn’t good, especially me.”
Doncic not being himself is also reflected in his postgame interviews following Games 3 and 4. Doncic’s voice is raspy and he sounds congested. After Game 4, he was asked whether the congestion makes it harder to breathe during games, thus affecting his energy level.
“It’s nothing,” he said. “We lost the game. Like I said before, for the knee, it shouldn’t be an excuse. I’m out there trying to play, trying to play a lot of minutes, trying to play hard. But sometimes you don’t have the perfect situation. So you’ve just got to go through it and do better.”
As Doncic noted, the Mavericks still not only rallied from a 31-point deficit but took a 105-104 lead on Kyrie Irving’s driving layup with 2:15 left. Irving scored 40 points, all of them after the first quarter.
“I have to help him more,” Doncic said. “I feel like I am letting him down so I have to be there. I have to help him more. He’s giving everything that he has. He’s been amazing for us the whole series.”
Twitter: @townbrad
Photos: Mavericks fall to Clippers in Game 4 in Dallas
Find more Mavericks coverage from The Dallas Morning News here.
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