Aug 30, 2022 Board of Directors Work Session

[00:00:03]

JAMES VALADEZ: GOOD AFTERNOON. I'D LIKE TO CALL THE REGULAR

[1. Call to Order]

THIS IS A WORK SESSION. TODAY IS TUESDAY, AUGUST 30, 2022. THE TIME IS 11:31. WE ARE CONDUCTING THIS MEETING AT TCAD

[2. Establishment of Quorum]

THE FIRST ITEM ON OUR AGENDA IS CITIZENS COMMUNICATION, AND I DON'T BELIEVE WE HAVE ANY CITIZENS SIGNED UP. WE WILL MOVE

[3. Work session on District 2023/2024 Reappraisal Plan to include possible direction to staff on reappraisal directives. The Board will not make any final decisions regarding the 2023/2024 reappraisal plan at this meeting. ]

LEANA MANN: OKAY.

MARYA CRIGLER: SO WHAT WE'LL WORK FROM IS, WE'LL WORK FROM THE REAPPRAISAL PLAN SUMMARY, BECAUSE IT'S A SHORTER VERSION.

THERE'S A LOT OF DETAIL IN OUR REAPPRAISAL PLAN, AND WE'LL MAKE THAT AVAILABLE AS WELL, BUT THAT'S A LOT OF DETAIL. THE REALLY KEY IMPORTANT INFORMATION WE WANT IS GOING TO BE IN THE REAPPRAISAL PLAN SUMMARY. AND WE DO IN THE SUMMARY FOR REFER PEOPLE IF THEY WANT ADDITIONAL DETAILS TO LOOK AT THE FULL PLAN, BUT SPECIFICALLY IN THE SUMMARY, IF WE START LOOKING AT PAGES SIX, SEVEN, AND EIGHT, THAT'S WHERE THE MEAT OF THE REAPPRAISAL PLAN AND POLICY IS GOING TO BE IN THE SUMMARY.

SO, SO STARTING ON ON PAGE SIX, JUST A LITTLE OUTLINE OF WHAT THE APPRAISAL DISTRICT DOES IN OUR REAPPRAISAL PLAN. WE ARE REQUIRED BY STATUTE TO PERFORM REAPPRAISAL FUNCTIONS AT LEAST ONCE EVERY THREE YEARS. WE TAKE A TARGETED APPROACH TO OUR REAPPRAISAL POLICY, MEANING THAT WE'RE LOOKING SPECIFICALLY FOR TARGETED AREAS WHERE THERE IS A STATISTICALLY SIGNIFICANT CHANGE IN THE MARKET. ON THE INTERIM YEARS, WE DO GET A PROPERTY VALUE STUDY EVERY OTHER YEAR. 2022 IS A PROPERTY VALUE STUDY FOR US. 2024 IS ALSO A PROPERTY VALUE STUDY. WE'LL PAY PARTICULAR ATTENTION IN THOSE YEARS BECAUSE WE WANT TO ENSURE THAT WE ARE PASSING OUR PROPERTY VALUE STUDY. BUT IN THE INTERIM YEARS, WE CAN LOOK AT THE DATA THAT WE'RE DOING TRY TO MAKE SURE THAT WE ARE BEING MORE TARGETED AND CIRCUMSPECT IN THE SO FOR 2023 AND 2024 IN GENERAL, WHAT WE'LL DO FOR THE WORK THAT WE'RE DOING.

REAPPRAISAL PLAN, IN TERMS OF TARGETING INFORMATION, FOR REAPPRAISAL IS WE ARE GOING TO LOOK AT ANY RESIDENTIAL OR COMMERCIAL ACCOUNT THAT HAS A RE INSPECTION CODE OF 23 OR 24 AND THOSE ARE THINGS THAT TYPICALLY COME UP DURING THE COURSE OF A SEASON WHEN STAFF SEES SOMETHING OR SOMETHING GETS REPORTED TO US THAT WE NOTE THAT WE NEED TO DO A REINSPECTION OF A PROPERTY, WE'LL PLACE A CODE ON IT SO THAT IT CAN BE INCORPORATED IN OUR NEXT WORK CYCLE. WE'LL ALSO BE LOOKING AT SPECIFICALLY ANY RESIDENTIAL OR COMMERCIAL ACCOUNT THAT HAS A PARTIALLY COMPLETED IMPROVEMENT TO DETERMINE WHETHER OR NOT THAT IMPROVEMENT HAS BEEN COMPLETELY FINISHED IN THAT TAX YEAR. WE ALSO WILL BE LOOKING AT ANY SIGNIFICANT BUILDING PERMIT THAT IS ISSUED FROM ANY ONE OF THE 21 CITIES IN TRAVIS COUNTY OR THE COUNTY BETWEEN JANUARY 1 AND DECEMBER 31 OF THAT YEAR, WHERE THE CONSTRUCTION STARTED PRIOR TO THE ASSESSMENT DATE.

WE'LL BE LOOKING AT ANY RESIDENTIAL OR COMMERCIAL NEW LAND ACCOUNTS THAT ARE CREATED AS THE RESULT OF A SUBDIVISION, CONDOMINIUM DECLARATION, OR SPLIT MERGE ACTIVITY. WE'LL ALSO BE LOOKING AT ANY COMMERCIAL OR RESIDENTIAL ACCOUNT WHERE THERE'S BEEN A DATA INQUIRY PROVIDED TO US THAT INDICATES THAT WE HAD A CONDITION CHANGE THAT IS NOT REFLECTED ON OUR PROPERTY ACCOUNTS. WE'LL ALSO BE LOOKING AT ANY RESIDENTIAL ACCOUNT THAT FALLS WITHIN A RESIDENTIAL NEIGHBORHOOD THAT HAS BEEN TARGETED FOR REAPPRAISAL BASED ON THE NEIGHBORHOOD SALES RATIO ANALYSIS, AND TYPICALLY ON OUR SALES RATIO ANALYSIS. OUR STANDARD IS 5% MARGIN OF ERROR.

THAT'S WHAT THIS USED FOR THE PROPERTY VALUE STUDY. SO ANYTHING LESS THAN 95% OR GREATER THAN 105% WILL BE TARGETED FOR REAPPRAISAL, MAYBE SOME FEEDBACK FROM THE BOARD.

THE IAAO STANDARD IS ACTUALLY 10%. PERHAPS WE MAY WANT TO CONSIDER IN YEARS THAT ARE NOT PROPERTY VALUE STUDY YEARS USING THE MORE GENEROUS THRESHOLD OF A 10% THRESHOLD, RATHER THAN 5%.

WE'LL BE LOOKING AT ANY RESIDENTIAL ACCOUNT THAT QUALIFIES FOR RESIDENTIAL INVENTORY VALUATION, ANY COMMERCIAL ACCOUNT THAT FALLS WITHIN THE COMMERCIAL MARKET AREAS THAT HAVE BEEN TARGETED FOR REAPPRAISAL BASED ON THE MARKET ANALYSIS. WE'LL LOOK AT ANY QUALIFYING CATEGORY, 1D, D1, PROPERTIES WHICH ARE AGRICULTURAL. WE LOOK AT ALL BUSINESS PERSONAL PROPERTIES BECAUSE THEY HAVE TO RENDER ON AN ANNUAL BASIS. SO WE'LL BE LOOKING AT THEM ON AN ANNUAL BASIS. AND THEN WE'LL LOOK AT ANY REAL PROPERTY ACCOUNT IN 2023 OR 2024 WHERE THE LAST REAPPRAISAL WAS IN 2020 OR 2021 MEANING IT'S MEETING ITS THREE YEAR TIME LIMIT, AND THEN ANY

[00:05:03]

SO THOSE ARE JUST GENERAL STANDARDS THAT WE'LL BE FOLLOWING IN TERMS OF OUR TARGETED APPROACH FOR REAPPRAISAL FOR MORE SPECIFIC DETAIL, PARTICULARLY RELATED TO OUR SPECIFIC DATA COLLECTION ACTIVITIES THAT WE'RE GOING TO DO. THOSE ARE ON THE CHART THAT IS ON PAGE EIGHT. FOR RESIDENTIAL, WE WILL BE LOOKING SPECIFICALLY AT DATA COLLECTION IN AREAS P AND R. WE FEEL THAT THAT'S APPROXIMATELY 24,000 25,000 ACCOUNTS. AND WE'LL BE LOOKING AT VERIFYING THE MEASUREMENTS, THE STANDARDS, ENSURING THAT WE'VE GOT APPROPRIATE IMAGE IMAGERY ON IT, WE'LL ENSURE THAT ALL APPLICABLE MARKET AREAS REFLECT THE NEW LAND TABLES. WE'VE IMPLEMENTED LAND TABLES. WE WANT TO MAKE SURE THAT WE ARE FOLLOWING UP ON THAT IMPLEMENTATION AND REFINING THAT, CLEANING UP WHERE NECESSARY. WE'LL REVIEW LAND DEVELOPMENT ADJUSTMENTS AND MAKE SURE THAT THERE'S A CORRELATION FOR RESIDENTIAL INVENTORY. WE'LL REVIEW DESIGNATED RESIDENTIAL PROPERTIES ON MAJOR THOROUGHFARES, AND VERIFY ACCURATE CLASSIFICATION BY COLLABORATING WITH THE COMMERCIAL DEPARTMENT. AND THIS IS PARTICULARLY IMPORTANT BECAUSE EVEN THOUGH THE HIGHEST AND BEST USE OF THE PROPERTY ON A COMMERCIAL THOROUGHFARE MAY BE COMMERCIAL, IF IT'S GOT A HOMESTEAD, WE'VE GOT TO REFLECT A HOMESTEAD VALUE ON IT. SO JUST VERIFYING THAT WE'VE GOT OUR PROPERTIES APPROPRIATELY IDENTIFIED AS RESIDENTIAL VERSUS COMMERCIAL. WE'LL REVIEW DATA IMPORT FIELDS IN OUR CAMA SYSTEM, MAKING SURE THAT WE'RE CAPTURING ALL OF OUR RELEVANT PROPERTY CHARACTERISTICS. AND THEN WE'RE ALSO GOING TO CONTINUE TO IMPLEMENT OUR TRUEPRODIGY Q MODULE, WHICH HELPS US DO A WORKFLOW WITH OUR DATA AS WE MOVE FORWARD IN COMMERCIAL FOR 2023 WE'RE GOING TO BE REVIEWING PORTFOLIOS AND LAND REGIONS JUST TO MAKE SURE THAT WE'RE MAXIMIZING OUR PRODUCTIVITY. WE'LL REVIEW AND AUTOMATE COMMERCIAL EQUITY AND SALES GRIDS FOR BETTER COMP SELECTIONS. WE'LL BE COLLECTING FINANCIAL DATA OF RECENT SALES IN ORDER TO CALCULATE A MARKET DERIVED TYPICAL LOAN TO VALUE RATIO. WE WILL CREATE COMP SETS TO DEFINE BENCHMARK PROPERTIES IN ORDER TO ANALYZE MARKET TRENDS, WE WILL BE CREATING AN INCOME MODEL FOR ALL COMMERCIAL PROPERTY TYPES, AND THEN WE'LL REDRIVE RETAIL AREAS IN THE CENTRAL SUB MARKETS IN PERSONAL PROPERTY, WE'LL BE DRIVING ALL REGIONS LOOKING FOR NEW, EXISTING, MOVED OR CLOSED BUSINESSES. WE'LL LOOK FOR ANY OF OUR C4, 23, NEW SIC ISSUES.

WE'LL DO ON SITE INSPECTIONS OF NON RENDERED ACCOUNTS THAT HAVE NOT RENDERED IN THE PAST TWO YEARS. AND THEY'LL ALSO BE IMPLEMENTING NEW FIELD DEVICES TO HELP US COMPLETE OUR FIELD WORK IN 2023.

IN 2024 IN RESIDENTIAL WE WILL BE FOCUSING ON THE ALPHA AREAS M AND N, AND WHEN I SAY ALPHA AREAS, THERE'S A MAP ON THE VERY NEXT PAGE THAT KIND OF GIVES YOU WHERE THE ALPHA AREAS ARE. SO ALPHA AREAS M AND N, WE ASSUME THAT'S APPROXIMATELY 19,000 PARCELS. WE'LL BE STUDYING THE EFFECTS OF ATYPICAL LAND ADJUSTMENTS ON MARKET VALUE THROUGH SALES ANALYSIS. WE'LL REVIEW WATERFRONT ADJUSTMENTS AND CONSIDER A MODEL SIMILAR TO WHAT THE COMPTROLLER USES. WE'LL BE DEVELOPING AN AFFORDABLE HOUSING AUTOMATED CAMERA MODEL RIGHT NOW THAT PROCESSING IS VERY MANUAL, SO WE'RE LOOKING AT AUTOMATING THE PROCESS OF THOSE AFFORDABLE AFFORDABLE HOUSING UNITS, AND WE'LL BE CAPTURING RELEVANT DATA TO CREATE FILLABLE ONLINE FORMS SUCH AS AG APPLICATIONS, CHARACTER CHARACTERISTIC REVIEW, AND RESIDENTIAL RENDITIONS, WHICH ARE THINGS THAT ARE THINGS THAT ARE CURRENTLY DONE THROUGH PAPER, BUT WE'D LIKE TO CREATE AN ONLINE SYSTEM TO BE ABLE TO DO THAT. AND THEN WE'LL DO A PILOT STUDY TO LOOK AT LAND TO BUILDING RATIOS WHERE THERE'S MINIMAL VACANT LAND SALES IN AN EXISTING AREA FOR COMMERCIAL. IN 2024 WE'RE GOING TO BE LOOKING AT PROPERTIES WITHOUT A MAIN IMAGE, PLACING PRIORITY ON THOSE VALUED UNDER 5 MILLION TO ACCOUNT FOR CHANGES IN THE PHYSICAL CHARACTERISTICS. WE'LL UPDATE THE IMAGES ON PROPERTIES OLDER THAN 2015 PLACING A PRIORITY ON THOSE VALUED OVER $20 MILLION AND THEN WE'RE GOING TO REVIEW OUR LAND VALUES IN COMMERCIAL TO LOOK AT ALL EXISTING ADJUSTMENTS TO DETERMINE THE VALIDITY AND EQUITY. WE'LL LOOK AT ZONING ANALYSIS AND THE EFFECTS ON THE MARKET VALUE, AND THEN WE'LL STUDY THE EFFECTS OF CRITICAL CHARACTERISTICS WHICH AFFECT DEVELOPMENTS, SUCH AS IMPERVIOUS COVER, CRITICAL WATER QUALITY ZONES AND CAPITAL CORRIDOR ORDINANCES. AND THEN FINALLY, IN COMMERCIAL WE'LL REVIEW EXISTING IMPROVEMENT ADJUSTMENTS TO DETERMINE THE VALIDITY AND CHARACTERISTIC REPRESENTATION IN PERSONAL PROPERTY. WE'LL BE INSPECTING ALL NEW BUSINESSES AGAIN, PARTICULARLY THOSE THAT HAVE ISSUED SALES TAX PERMITS AFTER THREE ONE OF THE CURRENT YEAR. WE'RE GOING TO REVIEW VALUES GREATER THAN 50% DECREASE IN VALUE DUE TO THE ACCEPTANCE OF THE 2022 RENDITION OR APPEAL.

AND THEN WE'RE GOING TO CREATE ONLINE FORMAT FOR TAXPAYERS TO FILE THE FOLLOWING FORMS, THEIR SPECIAL INVENTORY VALUE STATEMENTS AND DECLARATIONS, ALLOCATION FORMS AND FREEPORT APPLICATIONS, AND THOSE ARE THE TARGETED HIGHLIGHT THINGS THAT WE WANT TO DO IN OUR UPCOMING REAPPRAISAL PLAN. THESE ARE ALL THINGS THAT WERE DEVELOPED BY OUR DIRECTORS OF OUR RESIDENTIAL, COMMERCIAL AND PERSONAL PROPERTY DEPARTMENTS, AND ARE THINGS THAT THEY FEEL THAT THEY CAN FIT IN WITHIN THE TIME FRAME.

HOWEVER, AGAIN, ANY ISSUES THAT WE HAVE REGARDING STAFFING

[00:10:01]

NEED TO DO.

I REALLY APPRECIATE THE TARGETED APPROACH. SAYS IN THIS REAPPRAISAL PLAN. JUST A QUICK COMMENT. I THINK THAT WE NEED TO ALWAYS REMEMBER THAT WE HAVE TO WE HAVE A THREE YEAR WINDOW TO GET ALL OF THE PROPERTIES REAPPRAISED. WE DON'T HAVE TO DO EVERYTHING EVERY YEAR, AND I THINK THIS TARGETS AND DOES EXACTLY THAT. SO THANK YOU FOR IT WITH WHAT YOU'VE OUTLINED FOR LET'S TAKE 2023, FOR EXAMPLE, HOW WHAT PERCENTAGE OF THE PROPERTY DO YOU THINK WILL BE REAPPRAISED, GIVING THIS THESE TARGETS THAT YOU'VE OUTLINED, IS IT HALF? DO YOU THINK, IS IT A THIRD? WHAT WOULD, WHAT WOULD BE YOUR ESTIMATE? AND I UNDERSTAND IT'S AN ESTIMATE. YOU CAN'T SAY EXACTLY, BUT MARYA CRIGLER: YEAH, BASED ON WHAT WE'RE SEEING IN THE MARKET RIGHT NOW, AND YOU KNOW, THE REAL QUESTION BECOMES, WHAT DO OUR SALES RATIO ANALYSIS TELL US, AND WHAT WOULD BE INCORPORATED AS PART OF A TARGET REAPPRAISAL, BASED ON THE SALES RATIO ANALYSIS, BASED ON WHAT WE HAVE SEEN SO FAR IN THE MARKET, AND AGAIN, WE'RE STILL WAITING FOR THIRD QUARTER, FOURTH QUARTER AND FIRST QUARTER OF 2024, BUT WHAT WE ARE SEEING SO FAR IN TERMS OF TRENDS, IT LOOKS LIKE THE MARKET HAS KIND OF FLATTENED AND WILL BE RELATIVELY FLAT YEAR OVER YEAR. SO I DON'T ANTICIPATE THAT WE WILL SEE A LOT THAT WILL BE TARGETED FOR REAPPRAISAL DUE TO THE REAL SALES RATIO ANALYSIS. SO I WOULD SAY DEBORAH CARTWRIGHT: SO IN TERMS OF ITS PERCENTAGE, THE 5% MARYA CRIGLER: YEAH, YEAH, 5% OR EVEN IF WE GO TO THE MORE GENEROUS 10% THRESHOLD, I THINK THAT WE'LL PROBABLY SEE MAYBE 25 TO 30% OF PROPERTIES BEING REAPPRAISED OR TARGETED.

DEBORAH CARTWRIGHT: THAT'S THAT'S VERY GOOD INFORMATION.

HOW ARE YOU GOING TO DEAL WITH THOSE SCHOOL DISTRICTS THAT WILL REQUIRE ANOTHER APPRAISAL BECAUSE OF ITS STATUS WITH THE PROPERTY VALUE STUDY FROM LAST TIME, AS I UNDERSTAND IT, THERE HAS TO BE ANOTHER APPRAISAL IF THERE'S BEEN A I DON'T LIKE THE WORD FAILURE, BUT THE PROPERTY VALUE STUDY, WHERE ARE YOU ON THAT? MARYA CRIGLER: SO WITH THE SCHOOL DISTRICTS THAT HAVE AN INVALID FINDING, THERE IS A SUBSEQUENT PROPERTY VALUE STUDY.

BUT 2022 IS A PROPERTY VALUE STUDY YEAR FOR US ANYHOW, SO WE WILL HAVE A 2022 PROPERTY VALUE STUDY. IT REALLY DEPENDS ON WHETHER OR NOT WE GET ANY INVALID FINDINGS IN OUR 2022 AS TO WHETHER OR NOT THERE WOULD BE A SUBSEQUENT STUDY IN 2023 WE WON'T KNOW THAT UNTIL JANUARY OF 2023 WHETHER OR NOT THEY'VE GIVEN US ANY INVALID FINDINGS, WE INCREASED OUR VALUES SUBSTANTIALLY ACROSS THE COUNTY IN 2022.

I WOULD NOT ANTICIPATE THAT WE WOULD GET INVALID FINDINGS, BUT I CAN'T SPEAK FOR THE COMPTROLLER'S OFFICE. IF THERE IS ANY INVALID FINDINGS, THEN OUR RATIO STUDIES WOULD INDICATE THAT, AND THEY WOULD BE TARGETED BECAUSE OF THE RATIO STUDIES WOULD INDICATE THAT THE VALUES ARE FALLING.

DEBORAH CARTWRIGHT: THAT WOULD BE ADDED TO THE WORK PLAN. IN OTHER WORDS, IN 2023 IF YOU HAD SOME INVALIDS FROM 22 YOU'D HAVE TO ADD THIS TO YOUR TO YOUR WORK PLAN.

MARYA CRIGLER: YES, I WOULD THINK THAT OUR RATIO STUDIES, IF THERE WERE ANY INVALID FINDINGS, OUR RATIO STUDIES, WOULD FIND AND TRIGGER THOSE.

DEBORAH CARTWRIGHT: OKAY, ALL RIGHT. ON THE COMMERCIAL SIDE OF THINGS, YOU HAVE ADDED THAT YOU WILL REDRIVE ALL RETAIL PROPERTIES IN THE CENTRAL SUB MARKET. ARE YOU CONFIDENT THAT YOU'LL HAVE THE STAFFING TO DO THAT? MARYA CRIGLER: YES, YEAH, WE HAVE. WE HAVE DONE A LOT OF NEW EYED THINGS TO ATTRACT AND HIRED STAFF. WE HAVE GONE TO A WEEKLY INTERVIEW PROCESS WHERE ALL APPLICATIONS ARE INTERVIEWED WITHIN A WEEK AND OFFERS ARE MADE. WE'VE DONE A JOB FAIR, AND OUR JOB FAIR WAS NOT AS SUCCESSFUL AS WE WOULD WANT IT TO BE. WE ADVERTISE MULTIPLE VENUES FOR ALMOST A MONTH, I THINK, ON THE JOB FAIR, WE HAD 10 PEOPLE TOTAL SHOW UP AT THE JOB FAIR. BUT OUT OF THE 10 PEOPLE, WE'VE MADE FIVE, MAYBE SIX OFFERS FROM THE FROM THE JOB FAIR. WE RECENTLY HAD SOME SOME POSITIONS IN OUR CUSTOMER SERVICE, APPRAISAL SUPPORT, THAT WE HAVE CONVERTED TO BEING 100% REMOTE WORK. IT'S WORK THAT CAN BE DONE COMPLETELY REMOTELY. AND INTERESTINGLY ENOUGH, WE ADVERTISE THAT FOR ONE WEEK IN ONE PLACE, AND GOT 200 APPLICANTS. SO THERE IS DEFINITELY A DEMAND FOR REMOTE WORK. SO WE ARE LOOKING TO SEE IF THERE ARE OTHER AVENUES OR AREAS WHERE WE CAN CONVERT THE JOB TO MORE REMOTE BASED SO THAT WE CAN ATTRACT ADDITIONAL APPLICANTS INTO THOSE POSITIONS.

BUT FOR OUR APPRAISER POSITIONS, WE HAVE HIRED, I THINK, IN THE LAST MONTH, FIVE, SIX APPRAISERS, QUITE A FEW. YEAH, WE HAVE ONE OPENING AND COMMERCIAL APPRAISAL.

DEBORAH CARTWRIGHT: GOOD. YEAH, THAT'S ENCOURAGING. THANK YOU.

MARYA CRIGLER: YEAH. SO YEAH, I FEEL CONFIDENT THAT WE WILL HAVE THE STAFF NECESSARY TO DO THE REDRIVE. AND THE CENTRAL SUB

[00:15:03]

DEBORAH CARTWRIGHT: ONE LAST QUESTION, MR. CHAIRMAN, THIS IS THIS TARGET APPROACH TO REAPPRAISAL IS VERY SIGNIFICANT, AND I THINK IT'S IMPORTANT FOR OUR TAXING UNITS TO UNDERSTAND, AS WELL AS THE CITIZENRY, THAT OR AT LEAST MOST PEOPLE THINK YOU GO OUT AND JUST RANDOMLY PUT IN SOME INFORMATION INTO YOUR MODELS AND REAPPRAISE EVERY YEAR, AND EVERYBODY GETS A INCREASE IN HIS VALUE, WHICH IS NOT TRUE. THIS NEW APPROACH, AND WHAT YOU JUST EXPRESSED BECAUSE OF THE FLATTENING OF THE MARKET INDICATES THAT PROBABLY ONLY ABOUT 25% LET'S JUST USE THAT FOR THIS PURPOSE OF THE PROPERTY, RESIDENTIAL PROPERTY WILL BE REAPPRAISED FOR 2023. I THINK WE NEED TO GET THAT MESSAGE OUT. DO YOU HAVE A PLAN FOR GETTING THE MESSAGE TO TAXING UNITS SO EVERYBODY UNDERSTANDS WHY WE'RE GOING TO THIS APPROACH, THAT IT'S NOT JUST SOME RANDOM BOARD DECISION TO FLATTEN OUT VALUES THAT YOU'RE REFLECTING THE MARKET, AND THIS IS WHAT YOU SEE. DO YOU HAVE A PLAN FOR THAT? MARYA CRIGLER: YEAH, AND IT REALLY IS GOING TO BE A HAVE TO GO HAND IN HAND WITH US,EXPLAINING TO PROPERTY OWNERS THAT THERE ARE MULTIPLE VALUES THAT ARE DETERMINED BY THE APPRAISAL DISTRICT. AND SO WHILE YOUR MARKET VALUE MAY NOT CHANGE BECAUSE WE DON'T SEE MARKET DATA TO SUPPORT A CHANGE IN MARKET VALUE. PROPERTY OWNERS THAT HAVE HAD THE PROTECTION OF A HOMESTEAD EXEMPTION STILL MAY SEE AN INCREASE IN THEIR ASSESSED VALUE BECAUSE THAT ASSESSED VALUE IS LAST YEAR'S ASSESSED VALUE PLUS 10% OR THE CURRENT MARKET VALUE, WHICHEVER IS LOWER. SO PROPERTY OWNERS WITH A HOMESTEAD MAY STILL SEE SOME APPRECIATION IN THEIR ASSESSED VALUE BECAUSE OF THAT CALCULATION. APPRAISAL DISTRICT WILL NOT BE MAKING ANY CHANGES IN MARKET VALUE, BUT THEY STILL MAY SEE AN INCREASE IN THEIR ASSESSED VALUE BECAUSE OF THAT PROTECTION THAT THEY'VE GOT. AND AGAIN, THAT GAP FOR THAT PROTECTION THAT THEY CREATED THIS YEAR IS VERY SIGNIFICANT, AND IT WILL BE SEVERAL YEARS, WHILE THEY'RE STILL TRYING TO CATCH UP TO THEIR CURRENT MARKET VALUE.

DEBORAH CARTWRIGHT: I JUST ENCOURAGE THE STAFF TO GET THAT MESSAGE OUT REPEATEDLY. I KNOW THAT Y'ALL DO A REALLY GOOD JOB OF COMMUNICATING THROUGH TOWN HALLS. YOUR STAFF IS REALLY EXCELLENT AND AND THE WRITTEN MATERIALS THAT YOU DO, BUT MAYBE AN ADDITIONAL EFFORT THIS THIS TIME AROUND WOULD BE GOOD.

MARYA CRIGLER: ABSOLUTELY.

NICOLE CONLEY: THANK YOU. THIS IS VERY HELPFUL. THANK YOU. THIS IS VERY HELPFUL TO HAVE IT SORT OF ORGANIZED AND HAVE THE SUMMARY TO SORT OF GET US READY FOR THE DEPTH OF WHAT WE'RE ABOUT TO IMPLEMENT. AND DEBBIE, SHE'S SPOT ON, AS ALWAYS, ABOUT HOW TARGETED IS A VERY SORT OF FOCUSED WAY TO SORT OF GET AT YOU KNOW, THIS IS A VERY DIFFICULT AND CHALLENGING PROCESS ON SO MANY DIFFERENT LEVELS, ADMINISTRATIVELY, ON TAXPAYERS, AND SO I APPRECIATE YOU HAVING SORT OF A STREAMLINED AND TARGETED VERSION. WAS JUST WONDERING, LIKE, IS THERE, I KNOW YOU MENTIONED, LIKE, CRITICAL DATES, LIKE A TIMELINE, IT'D BE GREAT TO SORT OF SEE, LIKE, WHAT, WHEN CAN WE EXPECT ADJUSTMENTS IN THIS REAPPRAISAL PLAN, WHAT SORT OF THE NATURAL, SORT OF SEGWAY OF EVENTS? YEAH, AS WE SORT OF, YOU KNOW, WE LAUNCH WITH THE PLAN, BUT THERE'S ADJUSTMENTS THAT ARE MADE BASED ON INFORMATION AT THAT TIME, JUST JUST GIVING US A SENSE AS A BOARD, LIKE WHEN, WHEN SHOULD WE BE LOOKING FOR THESE READJUSTMENTS, AND WHAT'S THE HOW DOES THIS UNFOLD AS AN IMPLEMENTATION TIMELINE? MARYA CRIGLER: YEAH, SO WE DO. WE'LL DO OUR SALES RATIO SURVEYS. WE'LL DO IT IN OCTOBER, WE'LL DO ANOTHER ONE IN JANUARY, AND WE'LL DO ANOTHER ONE IN MARCH. AND THOSE KIND OF MATCH UP WITH THE QUARTERS, BECAUSE WE WANT TO SEE THE DATA AND SEE IF THAT BECAUSE OF THAT RATIO ANALYSIS, IF THERE'S ANYTHING ADDITIONAL THAT WE NEED TO TARGET. SO WE'LL PROBABLY, IF WE NEED TO COME BACK ON A AN ADJUSTMENT TO A REAPPRAISAL PLAN, IT'LL PROBABLY BE IN THE JANUARY, FEBRUARY TIME FRAME.

AFTER WE SEE THE FOURTH QUARTER DATA AND START TO SEE THE FIRST PART OF THE FIRST QUARTER DATE OF 2023 WE'LL BE ABLE TO TELL YOU A LITTLE BIT MORE. WHAT ARE WE SEEING IN THE MARKET, WHAT, WHAT KIND OF SCOPE CHANGES ARE WE HAVING TO DO? AND AGAIN, WHEN WE SEE A CHANGE IN SCOPE, IN THE SALES RATIO, IT MAY MEAN THAT WE MAY NEED TO REDUCE OUR SCOPE IN OTHER AREAS. SO WE MAY NEED TO REDUCE OUR SCOPE IN TERMS OF WHICH AREAS, ALPHA, AREAS WE'RE TARGETING, MAYBE WE ONLY DO P RATHER THAN P AND R, AND SO WE MAY NEED TO CHANGE THOSE KIND OF SCOPE ISSUES, BUT WE'LL KNOW BETTER FOR YOU IN JANUARY, I THINK JANUARY, FEBRUARY TIMEFRAME IS WHEN WE WOULD BE ABLE TO BETTER LET YOU KNOW IF WE NEED TO MAKE A CHANGE TO OUR REAPPRAISAL FOR 2023 AND THEN AGAIN FOR 2024 WE REALLY WON'T KNOW THAT INFORMATION UNTIL WE

[00:20:01]

JAMES VALADEZ: ANY OTHER QUESTIONS? OKAY. ANY OTHER COMMENTS? MARYA CRIGLER: I WOULD SAY, YOU KNOW, DOES THE BOARD HAVE IT ASSUMING THAT WE HAVE ALL VALID FINDINGS IN OUR 2022 PROPERTY VALUE STUDY, AND WE DON'T HAVE TO HAVE ANY SCHOOL DISTRICTS REPEAT A PROPERTY PROPERTY VALUE STUDY IN 2023 IS IT THE PLEASURE OF THE BOARD FOR US TO USE THE 5% THRESHOLD. OR WOULD YOU PREFER FOR US TO USE THE 10% FOR 23? DEBORAH CARTWRIGHT: THERE'S A POSSIBILITY THAT THE VALUES COULD GO DOWN. ISN'T THAT CORRECT? MARYA CRIGLER: CORRECT.

DEBORAH CARTWRIGHT: SO THE 5% THRESHOLD WILL ALLOW YOU TO REDUCE VALUES. IS THAT CORRECT? MARYA CRIGLER: CORRECT.

DEBORAH CARTWRIGHT: I THINK WE BETTER BECAUSE OF THE NATURE OF THIS MARKET THAT'S SO VOLATILE RIGHT NOW. I WOULD RATHER SHOW A REDUCTION IN VALUE IF THE MARKET IS GOING DOWN, AND I DON'T WANT TO GET CAUGHT ON A 10% THING AND THEN NOT DO ANYTHING.

MARYA CRIGLER: YEAH.

DEBORAH CARTWRIGHT: SO MY PREFERENCE WOULD BE TO LEAVE IT AT THE FIVE.

OKAY. OKAY.

MARYA CRIGLER: OKAY, YEAH, YEAH.

DEBORAH CARTWRIGHT: OKAY.

MARYA CRIGLER: WE'LL DO THAT. AND AGAIN, WHAT WE'RE SEEING IN THE MARKET SO FAR IS IT LOOKS TO HAVE BEEN FLATTENING OUT. WE HAD SOME GAINS EARLIER IN THE YEAR, BUT WE'RE SEEING THAT SOME OF THOSE GAINS ARE ERODING, AND WE JUST THINK IT'S GOING TO FLATTEN, BUT WE DON'T KNOW IF IT WILL GO DOWN FURTHER. AND SO IT'S JUST KEEPING AN EYE ON THE MARKET. AND ANYBODY THAT HAS ANY DATA THAT THEY ARE WILLING TO SHARE WITH THE APPRENTICE DISTRICT, WE CERTAINLY ARE LOOKING FOR MARKET DATA, SO WE ENCOURAGE ANYBODY THAT HAS VALUABLE INFORMATION THAT THEY WANT TO SHARE WITH US TO DO SO.

JAMES VALADEZ: OKAY, SO WE'LL KEEP IT AT THE 5% AS WE HAVE IN PRIOR YEARS. IS THERE ANYTHING ELSE THAT WE'D LIKE TO INCLUDE IN THIS, UH, WORK SESSION? ANYBODY ELSE? NO, OKAY, YEAH. I THINK THIS CONCLUDES OUR WORK SESSION. THE IF YOU HAD SOMETHING THAT YOU'D LIKE TO DISCUSS, TIME IS 11:53 AND THE TRAVIS CENTRAL APPRAISAL DISTRICT OKAY. WE WILL GO INTO EXECUTIVE SESSION CITING SECTION 55 1071, CONSULTATION WITH ATTORNEY REGARDING PENDING AND CONTEMPLATED LITIGATION, SETTLEMENT OFFERS AND MATTERS OF WHICH ATTORNEY HAS A DUTY TO ADVISE THE BOARD UNDER THE TEXAS DISCIPLINARY RULES AND PROFESSIONAL CONDUCT OF THE STATE BAR OF TEXAS, THE TIME IS 11:54, AND THE TRAVIS CENTRAL APPRAISAL DISTRICT BOARD OF DIRECTORS WILL ADJOURN TO GO INTO EXECUTIVE SESSION, STANDING RECESS.

MARYA CRIGLER: SINCE WE DON'T HAVE THAT AS A SPECIFIC AGENDA ITEM FOR THIS WORK SESSION IS THAT SOMETHING THAT WE SHOULD DO ON WE ALWAYS HAVE THE LANGUAGE, THE LANGUAGE, BUT WE DON'T HAVE IT AS A LISTED AGENDA ITEM, BUT WE DO HAVE IT AS A LISTED AGENDA ITEM FOR THURSDAY. IS, IS THAT SOMETHING YOU COULD TAKE UP THURSDAY? OKAY, YEAH, YEAH. I JUST WANT TO MAKE SURE THAT WE'VE GOT IT LISTED FOR APPROPRIATELY ON THE AGENDA, AND WE DON'T HAVE A SPECIFIC LISTED AGENDA ITEM ON THAT.

[4. Adjournment]

MARYA CRIGLER: THANK YOU GUYS.

* This transcript was compiled from uncorrected Closed Captioning.