ETex2
Sophomore Member
- Joined
- Dec 10, 2004
- Professional Status
- Certified General Appraiser
- State
- Texas
There is a lake in Texas where a District Court judge ruled that boat houses and docks are personal property and not real property. This is due to the water authority's atypical procedure in giving only temporary permits to use these docks (built by the adjoining property owners) on the water authority's property. Appeals court affirmed decision. There are no leases, only annual permits which are easily revokable. Land is all owned by the water authority; only adjacent property owners may build.
Appraisers, mortgage companies, and local appraisal district has always treated these lakefront docks as real property. Should appraisers and mortgage companies be made aware that these improvements are not considered to be real property by the courts? This might be a real nightmare for the appraisal district since personal property (other than business personal property) is not taxable and they have always been taxed as real property.
Appraisers, mortgage companies, and local appraisal district has always treated these lakefront docks as real property. Should appraisers and mortgage companies be made aware that these improvements are not considered to be real property by the courts? This might be a real nightmare for the appraisal district since personal property (other than business personal property) is not taxable and they have always been taxed as real property.