HAYS COUNTY COMMISSIONERS COURT
During last week’s Hays County Commissioners Court meeting Hays County Judge Ruben Becerra and Hays County Commissioner Debbie Gonzales Ingalsbe raised concerns about nonlocal housing finance corporations acquiring multifamily properties in Hays County and attempting to remove them from the local tax rolls through tax-exempt status claims. The court unanimously approved the submission of a letter to the Hays County Central Appraisal District asking that it delay any determination of tax exempt status until the Texas Attorney General returns an opinion on the constitutionality of the matter.
According to a press release issued by Becerra, Pecos Housing Finance Corporation and Pleasanton Housing Finance Corporation — both based outside of Hays County — recently acquired five large residential complexes in San Marcos and two in Kyle. A letter from the Hays County Central Appraisal District to Hays County warned of the significant revenue that would be lost due to the acquisition of the Lodge at Southwest and Castlerock at San Marcos — which would impact the tax roll for the county, city of San Marcos and San Marcos Consolidated Independent School District — and Vista at Plum Creek, Plum Creek Apartments and The Chloe Apartments — which would impact the tax roll for the county, city of Kyle and Hays CISD. The press release stated that, if approved, their requests for tax exemption could remove over $227 million in taxable value from the county’s tax base. That would translate to an estimated annual revenue loss of more than $500,000 to Hays County alone, not including additional impacts to local school districts and municipalities.
