Last December I had my hissy fit about Roy’s Transmission & Autocare at 138 W. Davis. The shop lies splat in the center of the city’s plans to create a cute million dollar plus plaza and streetcar stop at Zang and Seventh. Basically, Roy Smith has been fixing cars at this location for 18 years. The city wants to buy Smith’s tire shop property to build a way cool entrance to Bishop Arts, including a children’s playground. Smith has no objections except the green kind: he wants to be paid enough money to relocate and get another business. Last year, he said he had his property appraised at $775,000 when the city offered him “only” about $205,000.
Well, looks like Roy wrestled more out of the city. The Advocate Oak Cliff reports that the “City Council is expected to approve buying the shop at Zang and Davis from owner Roy Smith for $375,368.”
The Bishop Arts District shop is exactly where the city wants to bring a streetcar stop as early as 2015. Before the streetcar extension was funded, the city had planned to improve the wonky intersection at Zang and Seventh by turning it into a plaza. The shop has been appraised at $485,000, but demolition and clean-up of the site were deducted from the sale price.
Last year, I reported that the city valued his biz at $2000, and wondered how in the hell someone could someone appraise it for $775,000? The city first offered Smith $205,000, he said no, then he said the city bugged him to clean up his property, mow his grass and remove some cars. As I wrote last December:
“Wow, imagine that: they want him to keep the place tidy. Isn’t that the whole point of what code enforcement does?”
Readers and property tax experts explained to me the different methods the Appraisal District uses to calculate business taxes versus residential real estate, stay tuned for more on that with our Tax Doctor. 138 W. Davis is currently appraised at $109,760. The city is paying $375,368. That, according to Realtor/broker Richard Patten, is a “meeting in the middle” for both parties.
Well, I still think it’s too high. The city is upping appraised values on some of my properties, looks like they didn’t on Roy’s. Your thoughts?