Houston R.E. Income Properties XV, Ltd. v. Waller County Appraisal District

OPINION

ADELE HEDGES, Justice

(Assigned).

Appellant, Houston R.E. Income Properties XV, LTD. (Houston), appeals a judgment in which the court below determined the market and appraised values of Houston’s property to be $7,000,000 as of January 1, 2000, and $7,800,000 as of January 1, 2001.

In three points of error, Houston contends: (1) the trial court erred by employing an improper method to determine the value of Houston’s property, (2) the “income approach” is the preferred method in determining value under the circumstances of this case, and (3) the trial court’s determination is not…