February 11, 2020 Special PLDA Update Dear neighbors, This morning the Guadalupe County Appraisal District released a study of the impact of the May 14th dam failure on lakefront property values for the next few years. The report assumes that the values of waterfront property on Dunlap will drop an average of 28% in 2020, another 2% in 2021, then stabilize for two years before beginning to increase by 10% a year ultimately to previous levels once the dam comes online. For those intending to hold on to their properties, this is probably good news, as those owners will all get some significant tax relief on school, county and road taxes in the short term, and then once the lake is back, will still have lower tax values than our non-waterfront neighbors, while market vales are expected to bounce back fairly quickly once the dam construction begins, and certainly once the dam is online. For those looking to sell in the short-term, this is probably not the result you were hoping for. The report does not address the values for non-waterfront owners, whose valuations will likely remain roughly the same. Download the full report here: http://guadalupead.org/data/_uploaded/file/PDFs/Postings/2020%20Lake%20Report%20-%20Public%20Version%2002062020.pdf J Harmon President PLDA jrharmon123@yahoo.com
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