1807533 SETPERF:00 2020 Notice of Appraised Value Property ID: 287058 Ownership %: 100.00 Ref ID2: 03062003040000 DBA: LENOX OAKS CACTUS ROSE APT Legal: LOT 1 LENOX OAKS PHS 2 & LOT 1 PHASE 1 LOT 1 Legal Acres: Situs: 500 BASTROP HWY TX 78742 TRAVIS CENTRAL APPRAISAL DISTRICT 8314 CROSS PARK DR P O BOX 149012 AUSTIN, TX 78714-9012 Phone: (512) 834-9138 DATE OF NOTICE: April 10, 2020 #BWNNRFT #0118075332870584# LENOX OAKS, Owner ID: 1807533 Property ID: 287058 - 03062003040000 CACTUS ROSE OWNER LLC 591 WEST PUTNAM AVE GREENWICH, CT 06830-6005 THIS IS NOT A BILL Dear Property Owner, We have appraised the property listed above for the tax year 2020. As of January 1, our appraisal is outlined below. Taxing Unit Market Value Assessed Value (Includes Homestead Limitation if Applicable) 21,893,094 21,893,094 2019 Exemption AUSTIN ISD CITY OF AUSTIN TRAVIS COUNTY DEL VALLE ISD TRAVIS COUNTY HEALTHCARE AUSTIN COMM COLL DIST 2019 Exemption Amount 2020 Exemption 0 0 0 0 0 0 2020 Exemption Amount Exemption Amount Change 0 0 0 0 0 0 2019 Taxable 150,491 5,516,370 5,516,370 5,365,879 5,516,370 5,516,370 2020 Taxable Freeze Year and Ceiling 150,491 21,893,094 21,893,094 21,742,603 21,893,094 21,893,094 If you qualified your home for a 65 and older or disabled person exemption for school taxes, the school taxes on that home cannot increase as long as you own and live in that home. The tax ceiling is the amount that you pay in the year that you qualified for the 65 and older or disabled person exemption. The school taxes on your home may not go above the amount of the ceiling, unless you improve the home (other than normal repairs and maintenance). If you improved your property (by adding rooms or buildings) or you are transferring a freeze percentage, your school, county, city, or junior college Ceiling may increase from prior years. Enclosed are copies of the following documents published by the Texas Comptroller of Public Accounts: (1) Property Tax Remedies; and (2) notice of protest. The chart below is the 2019 Taxpayer Impact Statement based on the No-New-Revenue, Voter-Approval, and Adopted tax rates set by each taxing unit. No-New-Revenue Tax Rate (NNR) - A calculated rate that would provide the taxing unit with approximately the same amount of revenue it received in the previous year on properties taxed in both years. This rate calculation does not include the impact of additional tax revenue resulting from new construction. Voter-Approval Tax Rate (VAR) - Tax rate level that allows the taxing jurisdiction to collect more taxes, not including debt repayment, than the previous year. The percentage increase allowed varies depending on the type of taxing jurisdiction (i.e. 2.5% schools, 3.5% for cities and counties). If a rate higher than the voter approval rate is adopted there is an automatic election for voters to approve the increase in taxes during the November election cycle. Adopted Tax Rate - This is the tax rate that was adopted by the taxing unit for 2019. 2019 Taxpayer Impact Statement 2019 2019 2019 Taxable NNR NNR Value Rate Taxes AUSTIN ISD 150,491 1.002500 1,508.67 CITY OF AUSTIN 5,516,370 0.414000 22,837.77 TRAVIS COUNTY 5,516,370 0.332751 18,355.78 DEL VALLE ISD 5,365,879 1.239700 66,520.80 TRAVIS COUNTY HEALTHCARE 5,516,370 0.098817 5,451.11 AUSTIN COMM COLL DIST 5,516,370 0.098500 5,433.62 *The impact statement does not reflect OV65 tax ceiling, see previous page for tax ceiling amount Taxing Unit 2019 VAR Rate 1.122000 0.443100 0.369293 1.330450 0.106652 0.106200 2019 VAR Taxes 1,688.51 24,443.04 20,371.57 71,390.34 5,883.32 5,858.38 2019 Adopted Rate 1.122000 0.443100 0.369293 1.310000 0.105573 0.104900 2019 Adopted (Actual) Taxes 1,688.51 24,443.04 20,371.57 70,293.01 5,823.80 5,786.67 The chart below is an estimate of taxes based on 2020 taxable value and the 2019 adopted tax rate. This is NOT the 2020 No-New-Revenue tax rate. If property values rise, the No-New-Revenue rate will go down and vice versa. Taxing Unit AUSTIN ISD CITY OF AUSTIN TRAVIS COUNTY DEL VALLE ISD TRAVIS COUNTY HEALTHCARE AUSTIN COMM COLL DIST 2020 Taxable Value 150,491 21,893,094 21,893,094 21,742,603 21,893,094 21,893,094 2019 Adopted Tax Rate 1.122000 0.443100 0.369293 1.310000 0.105573 0.104900 Estimate (See below) 1,688.50 97,008.29 80,849.66 284,828.10 23,113.20 22,965.85 “The Texas Legislature does not set the tax amount of your local taxes. Your property tax burden is decided by your locally elected officials, and all inquiries concerning your taxes should be directed to those officials.” The appraisal district only determines the value of the property. If taxing unit budgets increase then a tax rate higher than the No-New-Revenue rate may be adopted by the taxing unit. The governing body of each taxing unit decides whether or not taxes on property will increase. Truth-in-Taxation laws give taxpayers a voice in decisions that affect their property tax rates. Beginning in early August, taxing units take the first step toward adopting a tax rate by calculating and publishing the No-New-Revnue and Voter-Approval tax rates. If a governing body proposes to adopt a tax rate that exceeds the No-New-Revenue rate, it must publish a quarter-page notice in a local newspaper to announce two public hearings. The hearings give taxpayers an opportunity to voice their opinions about the proposed tax increase. Information on proposed tax rates, public hearing dates, and taxing unit contact is updated in August and available online at: http://www.travistaxes.com Appraisal Information Last Year - 2019 Market Value of Building & Other Structures Market Value of Non Ag/Timber Land Market Value of Ag/Timber Land Market Value of Personal Property/Minerals Total Market Value Productivity Value of Ag/Timber Land Assessed Value Homestead Cap Value excluding Non-Homesite Value (i.e. Ag, Commercial) Exemptions (DV - Disabled Vet; DP-Disabled Person; HS-Homestead; OV65-Over 65) Proposed - 2020 500,000 5,016,370 0 0 5,516,370 0 5,516,370 0 The difference between the 2015 appraised value and the 2020 appraised value is 4245.01%. This percentage information is required by Tax Code section 25.19(b-1). If you have any questions or need more information, please contact the appraisal district at (512) 834-9138. 16,876,724 5,016,370 0 0 21,893,094 0 21,893,094 0 To file a protest, complete the notice of protest form on the next page following the instructions included in the form and no later than the deadline below, mail or deliver the form to the appraisal review board at the following address: Mailing Address: Travis Appraisal Review Board, PO Box 149012, Austin, TX 78714-9012 Deadline for filing a paper protest: May 15, 2020 Please visit the appraisal district website https://www.traviscad.org/protests/ for more information on informal hearings. Formal hearings will begin June 1, 2020 and will be held at 850 E Anderson Lane, Austin, TX 78752. Description of Exemptions Please see a brief explanation of these total or partial exemption of property from taxation required or authorized by the Property Tax Code. * General Residence Homestead Exemption (HS) (Tax Code Section 11.13(a) and (b)) Property was owned and occupied as owner’s principal residence on Jan. 1. No residence homestead exemption can be claimed by the propertyowner on any other property. * Disabled Person Exemption (DP) (Tax Code Section 11.13(c) and (d)) Persons under a disability for purposes of payment of disability insurance benefits under Federal Old-Age, Survivors, and DisabilityInsurance. Property owners not identified on a deed or other instrument recorded in the applicable real property records as an owner of theresidence homestead must provide an affidavit or other compelling evidence establishing the applicant’s ownership interest in thehomestead. (See Form 50-114-A) This exemption cannot be combined with the persons age 65 or older exemption. * Age 65 or Older Exemption (OV65) (Tax Code Section 11.13(c) and (d)) This exemption is effective Jan. 1 of the tax year in which the property owner becomes age 65. Property owners not identified on a deed orother instrument recorded in the applicable real property records as an owner of the residence homestead must provide an affidavit or othercompelling evidence establishing the applicant’s ownership interest in the homestead. (See Form 50-114-A) This exemption cannot be combinedwith the disabled persons exemption. * Surviving Spouse of an Individual Who Qualified for Age 65 or Older Exemption (OV65s) (Tax Code Section 11.13(q)) Surviving spouse of person who qualified for the age 65 or older exemption may receive this exemption if the surviving spouse was 55 yearsof age or older when the qualifying spouse died. The property must have been the surviving spouse’s residence homestead at the time ofdeath and remain the surviving spouse’s residence homestead. This exemption cannot be combined with an exemption under 11.13(d). * 100 Percent Disabled Veterans Exemption (DVHS) (Tax Code Section 11.131(b)) Property owner who receives a 100 percent disability compensation due to a service-connected disability and a rating of 100 percent disabledor individual unemployability from the U.S. Department of Veterans Affairs or its successor. Documentation must be provided to support thisexemption request. * Surviving Spouse of a Disabled Veteran Who Qualified or Would Have Qualified for the 100 Percent Disabled Veteran’s Exemption (DVHSS) (Tax Code Section 11.131(c) and (d)) Surviving spouse of a disabled veteran (who qualified for an exemption under Tax Code Section 11.131(b) at the time of his or her death orwould have qualified for the exemption if the exemption had been in effect on the date the disabled veteran died) who has not remarriedsince the death of the veteran. The property must have been the surviving spouse’s residence homestead at the time of the veteran’s deathand remain the surviving spouse’s residence homestead. * Donated Residence Homestead of Partially Disabled Veteran (DVCH) Tax Code Section 11.132(b)) A disabled veteran with a disability rating of less than 100 percent with a residence homestead donated by a charitable organization at nocost or at some cost that is not more than 50 percent of the good faith estimate of the market value of the residence homestead as of thedate the donation is made. Documentation must be provided to support this exemption request. * Surviving Spouse of a Disabled Veteran Who Qualified for the Donated Residence Homestead Exemption (DVCHS) (Tax Code Section 11.132(c) and (d)) Surviving Spouse of a disabled veteran (who qualified for an exemption under Tax Code Section 11.132(b) at the time of his or her death) whohas not remarried since the death of the disabled veteran and maintains the property as his or her residence homestead. * Surviving Spouse of a Member of Armed Services Killed in Action (MASSS) (Tax Code Section 11.133(b) and (c)) Surviving spouse of a U.S. armed services member who is killed in action who has not remarried since the death of the service member.Documentation must be provided to support this exemption request. * Surviving Spouse of a First Responder Killed in the Line of Duty (FRSS) (Tax Code Section 11.134) Surviving spouse of a first responder who is killed or fatally injured in the line of duty who has not remarried since the death of thefirst responder. Documentation must be provided to support this exemption request.