When a commercial property is sold, does HCAD reappraise the value as soon as they find out?

In Buying Property - Asked by Terry L. - Jun 10, 2017
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Patrick K.
Broker/Agent
The Woodlands, TX

Texas is a nondisclosure state so when a property is sold neither the Seller or Buyer have an obligation to inform HCAD or answer HCAD inquiries. Depending on the time of sale HCAD may be able to reassess not reappraise otherwise the existing Assessed value roles over or they increase it whether it's justified or not.
Only way for HCAD to know an actual closed escrow value is somebody tells them..or they get lucky.

Jun 12, 2017
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