BILL CHERRY

In Texas there is one central source for appraisals property taxing authorities use to determine value. They are called Central Appraisal Districts, and every county has one.

Their purpose is to assign values to your real estate, inventory and equipment that are in line with those they have assigned comparable properties. The Central Appraisal Districts (CADs) have nothing to do with setting taxes; they just determine values.

Each year, property owners are notified the value that the CAD has determined for each of the owner's property holdings.

You have the right to protest -- to contest -- the value(s) the CAD has assigned your property. You must do that in writing and you must do that no later than May 31st. This year, May 31st falls on Sunday.

If you do not feel competent to represent yourself before the CAD, there are services that will do it for you. Many charge a flat fee; others charge a percentage of the taxes that you will save as a result of their ability to get you a lower appraised value.

Finally, if you are still unsatisfied with the results of your protest, Texas provides that you may apply for arbitration. While the cost of this procedure is normally $500, its purpose is to save both property owners and CADs the cost of a lawsuit in district court. A list of arbitrators is available from the Texas Comptroller of Public Accounts office. The property owner and the CAD must agree on the arbitrator; if they can't, then the Comptroller will order they use one picked by lottery.

I am a arbitrator appointed by the Comptroller, and have been since this option was first made law by the legislature.

BILL CHERRY, REALTORS

DALLAS

214 503-8563

BILLIONAIRE REAL ESTATE DEVELOPER

GEORGE P. MITCHELL

By Bill Cherry

George P. Mitchell was born on the Galveston Island 90-years ago tomorrow, May 21st. And for all 90 of those years, he's been making history, and with a good portion of that history he has made life better for other people and for future generations.

The planned city, THE WOODLANDS, just north of Houston, was his vision AND his accomplishment. The historical business district of Galveston, known as The Strand, was also his vision and got critical mass when he and his wife invested $100 million of their money in those 19th century iron front buildings.

Mr. Mitchell, my dad William W. Cherry, and my close friend of more than 50-years, Victor J. Damiani, share an unusual trait, one that completely goes against what evidence shows as the norm.

All three of them started with very little and because of family circumstances were left, primarily, to raise themselves. Amazingly, they had uncanny noses for usually reasoning out the right thing to do.

And it was the result of that one attribute that let them rise to the top, let them be positive leaders to those who associated with them.

J.R. McConnell was the opposite kind of person. In the mid-80s, and in a matter of a few months, out of nowhere he became one of the most talked about people in Houston and Galveston. He threw millions here and millions there toward real estate development.

Banks lusted for his business, real estate brokers figured he was their financial deity, and all but fell at his feet to worship. Interestingly, I chose not to do business with him. I'm not sure why.

No one could explain the source of McConnell's personal wealth. The speculations were endless; most sounded to be at least bordering on outrageousness.

But in reality, people didn't really want to know for fear that they would find the truth, a truth they wouldn't like.

In Galveston, McConnell bought the huge Black Hardware, a 100-year old building on Galveston's Strand, and began turning it into Old Galveston Square.

He started another Strand area building from scratch. It had been designed by a young architect who, some said of his designs, that only one, a garage, had been actually built. His plans were so intricate and specific that most contractors found them impossible to bid, and next to impossible to build.

McConnell bought acres and acres of land from the Galveston East Beach Corp., then announced plans to develop them into a beachfront resort city. Within moments tractors began pushing around sand to make room for roads.

Then his house of cards began to catch up with him.

Ticor Title Co. filed a lawsuit claiming McConnell had bulked them out of $50 million. McConnell quickly filed for bankruptcy and showed debts of $427 million.

No one really knew what the real debt number should be, not even McConnell.

Then Mc Connell fled to Mexico, apparently because he knew he would be charged for committing fraud, and would have to defend himself.

When the federal authorities located his Mexico whereabouts, they sent word through a messenger that if he would come back to the U.S., it was not their intent to charge him with any thing, they just wanted to talk with him, and then he'd be free to go.

McConnell believed them, and they sent him a plane ticket for his trip back to Houston.

As soon as his plane landed, however, he was handcuffed, read his rights, and taken off to jail. It wasn't as he had been promised. He knew that he had been tricked.

Now all but friendless, McConnell called Mr. Mitchell from jail, and told him he had no money for bail and no money to pay an attorney to defend him. His wife had no money for food, not even for minimal living expenses.

The government had seized all of the assets in McConnell's name pending adjudication.

The following Saturday morning, Mr. Mitchell and I were walking along the sidewalk adjacent to the Phoenix Bakery.

"I hired Percy Foreman's old sidekick, Dick DeGuerin, today to get J.R. out of jail on bond and to defend him," he said casually to me.

I couldn't believe what he had said.

"Mr. Mitchell! Do you realize what people are going to think about you? J.R. has allegedly misappropriated many people's savings for fraudulent purposes. The title companies think he has double-closed purchases using funds from more than one lender," I said in horror.

"Bill, this is America. We have nothing if our legal system doesn't choose to treat everyone equally and fairly. It looks to me like the Feds may have lied to J.R. They may have tricked him.

If they did, they've put the scale of justice out of balance. It's not morally right for me to let them get away with that."

"But Mr. Mitchell!" I was going to try one more time to reason with him. He interrupted.

"Bill, if you were ever tricked like it looks like J.R. was, I'd be there for you, too." And then he added, "And I know if something like this were ever to happen to me, you'd do what you could to help me.

"I know that because you and I share the same values. It's why we've been friends for so long, and it's one of the primary reasons why you are Cynthia's and my Galveston real estate consultant for the past 20 years."

Copyright 2009 - William S. Cherry

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Since 1964

214 503-8563

On the web

Those of you who visited and shopped Galveston's famous Strand Surplus Senter, also fondly called Col. Bubbies, will be saddened to learn that its owner, Meyer "Col. Bubbie" Reiswerg passed away yesterday.

Bubbie had such a wit that he was brought to New York as a guest on the David Letterman Show. He brought the house down!

But what I liked best about Bubbie was his ability to debate. More than once he took the Galveston School Board on. He was always far better prepared than they were. The winner was Bubbie in a slam dunk decision.

Meyer "Col. Bubbie" Reiswerg

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

That the food in most restaurants considered "fine" is expensive simply doesn't fit the bill at Dallas' Royal Thai on Greenville, near Park, behind the popular World Market store.

Owned by a well-known chef and his brother, I doubt you will say that you have ever been in any restaurant where there was more pride of ownership. To begin with, the interior is beautifully and tastefully decorated. It is spotlessly clean....spotlessly clean always!

Here's how they tell their story: "Gene and Jay Potchana opened Royal Thai in July of 1992 for many reasons, but mostly their mutual love of authentic Thai food. Before then, Gene enjoyed working in management while Jay thoroughly enjoyed cooking. He spent 12 years working for others in the restaurant business before finally deciding to take the plunge on his own - looking to his mother, Boonroam, as his culinary inspiration.

"Before coming to Dallas to help get Royal Thai off the ground, Boonroam cooked in a high volume eatery outside of Bangkok that specialized in exotic Thai food. Jay used many of his mother's recipes and fused them with other culinary instincts from the streets of Thailand. This led Royal Thai to become a neighborhood favorite in Dallas Texas, at a time when Thai food was relatively unknown."

The wait staff is, primarily, beautiful and soft-spoken Taiwanese young women, dressed in conservative native costume. And the food they serve is not only fresh and well-prepared but from creative recipes.

And all in all, you can plan to eat here, and eat here well for $20 a person. In addition there are great desserts and a full bar.

Patty and I go often...and we've never been after 6:30 PM or ll:30 AM when the big dining rooms and the patio aren't full. That's why we go early. Try Royal Thai.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

ON THE WEB

You know I was raised on the Texas coast where fresh seafood is not a luxury! In fact when I was a kid, my mom kept a couple of pounds of fresh boiled shrimp in the refrigerator for us to snack on when we came home from school.

Galveston parents weren't into the cookies and milk routine.

Well, in general, Dallas couldn't have worse seafood for sale in its markets and restaurants if it tried harder! Just awful. And Patty and I have to have our fresh red snapper, flounder, lump crab meat and shrimp.

Here's the source. Flown in fresh several times daily. T.J.'s Seafood on Preston Road.

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

On the Web