Homeowners aren't the only ones feeling the sting of rising property taxes.
The owners of the Arabia Shrine Center said mounting tax bills caused them to sell their property.
"It's regrettable, but the ever-increasing taxes just make it prohibitive," said John McDonald, a local official of the fraternal organization, noting that the property's 2006 tax assessment was $108,000. "There was no relief in sight."
Apartment developer Ameriton Properties bought the 7.75-acre site at 2900 North Braeswood between Kirby and Buffalo Speedway.
The sale price was not disclosed, but a source familiar with the deal said Ameriton bid more than $21 million, or $63 per square foot.
Creech, of Stan Creech Properties, said the Shriners property could sell for upwards of $45 a square foot, or $11.4 million based on increasing values in the inner city.
The property was appraised at $3.3 million in 2007, according to Harris County tax records.
Oh, and one more thing, again from that March column:
The 144,632-square-foot facility that's hosted arts galas, roller derbies and other fundraisers was appraised at $3.5 million in 2006, according to Harris County tax records.