1992-10-26 Regular Meeting - Laserfiche WebLink

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e e CITY OF LA PORTE INTER-OFFICE MEMORANDUM TO: Robert T. Herrera, City Manager FROM~f Litchfield, Director of Finance DATE: October 13, 1992 SUBJECT: Industrial District Appraisals Background In the 1992-93 Budget, funds were allocated to allow for the return to the process of hiring an independent appraiser to appraise property in the City's two Industrial Districts. I have attached an excerpt of a budget memo to you that explained our dissatisfaction with the current method of obtaining values. At this time, I would like to expand on that memorandum to include a brief update of the current year's activity. We received our report of values on October 12, 1992, which was two and one half months after the time I needed them to make accurate budget projections for revenues. I have questions on the values for 27 of the 50 properties listed. If I accept the roll as it currently stands, we would be short of revenue by about $1,250,000 (One of the major problems was they left one of our largest tax paying properties off of the roll). Selection of an Appraiser In selecting an independent appraiser for the City, we have two options. One is to select an individual from the open market and the second is to return to the services of Hugh L. Landrum & Associates. There are several other independent appraiser on the open market that could provide appraisal services to the City. In order to identify them, I had staff check with other Cities to see who appraised their property. I found the following: City of Deer Park - provided by HCAD City of Pasadena - provided by Hugh L. Landrum & Associates City of Morgan's Point - provided by Hugh L. Landrum & Associates City of Bay town - provided by Thomas Pickett Appraisers, Dallas, Texas