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KatieDidIt

What is an Economic Misimprovement?

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Curious as to what an economic misimprovement means on the tax rolls.

Can anyone fill me in? I've toured some homes with this label, and I really don't see what justifies it.

Edited by KatieDidIt

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Curious as to what an economic misimprovement means on the tax rolls.

Can anyone fill me in? I've toured some homes with this label, and I really don't see what justifies it.

is this in an older neighborhood where there is some teardown action going on?

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there are several threads around here where this phrase has come up, but i don't recall ever seeing a real answer :P

i think all the guesses pointed to something like an older (rehabbed?) home in a "transitioning" neighborhood

also may have something to do with an artificially inflated appraisal because of the newer surrounding properties

another thing, though - is this a good thing to have? does it provide tax breaks?

Edited by sevfiv

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is this in an older neighborhood where there is some teardown action going on?

There are one or two homes that have been torn down, but most have been extensively remodeled. Looks like a regular old 1955 ranch house to me. <shrug>

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Here's what HCAD sent me regarding economic misimprovement....

In areas where older houses are being torn down to make way for new construction, the contributory value of the building to the total property value is diminished. We use the 'Econ misimprovement' as an adjustment to the dwelling to limit the remaining building value as the land value increases.

hope that helps.

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I was wondering if seeing economic misimprovement on a property description might mean it had been a meth lab, especially after finding this definition....(Other results have given the same definition)...

Ok....I can't paste a link here evidently,and it is too long to type out..

Google "Misimprovement"  -  - ill use or employment,  Use for a bad purpose.

 

I remember 3003 So. Braeswood Blvd. 77025 - from my childhood and have periodically been looking at it via google satellite and street view.  I have observed some things that were odd at one time.

At some point the kitchen end of the house was totally gutted and redone So Well, the rest of the mid-century home doesn't match the kitchen. You should be able to find it at www.har.com .

 

I can't post the link here (but I can spell it out)   where I found "economic misimprovement " included with this address.

 It is at www.city-data.com/harris-county/S/S-Braeswood-Boulevard-28.html 

 

Thank you to anyone curious enough to go look at this.

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@gargoyle_dreams Your link showed what i thought it would, and it's basically the same as any real estate tax record you're going to see anywhere in the country. There is a distinction made between land value only and property value that has a livable and/or workable (like a detached garage) structure on the land. These are called improvements (to the land only) and will raise the value of the land (which is now termed "property" because of the additions). "Mis-improvemts" reflect a building that is either unlivable, unworkable or torn down and thus decreases the value. If you can't do anything with a structure per city codes, then for tax and valuation purposes, the building is no longer there and the "property" has been downgraded (or in their interpretation, "mis-improved") to "land".

 

In the first two examples, a city, county or state agency will have been involved in those determinations and will have recorded them. This record transfers to the tax deed for the purpose of the re-evaluation of the worth. In the last example, the same sort of applies in that a civic agency of some sort will have been involved in that process (like when they slap a 'condemned" sticker on the structure) and also recording it.

 

All that aside though.....mis-improvement shouldn't even be a word. It doesn't reflect the proposed meaning, it confuses folks and it sounds like something a damn third grader made up.

Edited by werdserf 99

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On 4/10/2007 at 7:13 AM, KatieDidIt said:

Curious as to what an economic misimprovement means on the tax rolls.

Can anyone fill me in? I've toured some homes with this label, and I really don't see what justifies it.

 

What werdserf said. it's a bad word that should read "depreciation".

 

Get higher up on the real estate scale where you're dealing with millions of dollars worth of property, and this somehow equates to tax write-offs.

 

Trump made a lot of money that way

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I'm I the only one who finds humor in the fact that, in real estate at least, you can make money off of a bad thing? When a car loses value you can only claim the depreciation at tax time if the car was used for business.

 

The rich get all the perks I guess.

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