Source
r/HuntsvilleAlabama•
iaalaughlin

Overdue Property Taxes - Companies are the biggest offenders

I've been pulling a bunch of data from Maison County Records out of an attempt to answer the question of 'who owns the majority of houses in Huntsville?'.

Data gathering is ongoing.

So far, I've discovered that the City owns a ton of properties (which makes sense), and also that Tom Munoz Inc is the current front runner of most properties owned by a single entity (over 120, so far).

BSFR III Owner I LLC owns over 70 properties. This LLC is ran by Brookfield Property Group. They were first incorporated a year ago, so they've definitely been on a buying spree.

Barksdale Investment Properties owns a good amount of properties as well - about 50, the last I checked my data.

There's more info like that, but it gets kind of repetitious.

The interesting thing that I also found is that there are currently 722 properties with unpaid 2021 taxes, for a total of $810,759.39.

84 companies (which I defined as those with LLC, INC, LP, and similar in their names) owe a total of $402k.

Needless to say, this is disproportional.

Store Master Funding IV LLC, owned by Store Capital owes $49,395.72 of that balance. This is where Ashley Home Furniture is off Memorial Parkway, btw.

It kind of trickles off from there. 14 total entities owe over $10k, with 12 of them being companies. 13 owe between $5k and $10k, with 9 being companies.

Looking at the 6 people so far out of 27, one looks like their escrow always pays late, three are businesses (well, they own the land and building of businesses, at least), and two that I think is are errors (one went from normally owing $400-$700 to $11k and this year is $60 due, and the other went from $800 in 2020 to $12k in 2021).

Source data for ownership: https://madisonproperty.countygovservices.com/Property/Property/Search (and then programmatically scraped)

Source data for delinquencies: https://madisonproperty.countygovservices.com/Property/Property/DelinquentParcels

Note: In theory, they'll be going up for sale in a month.

Posted Apr 7, 2022, 1:54 AM UTC

4622
Alabama599018•

Super detailed and cool information.

8
Mighty-Osip•

I actually know Munoz, he and his wife have been buying houses off the courthouse auction for a a while now. Most they flip, I am guessing quite a few they turn into rental properties.

8
The_OtherDouche•

What about crunkleton, staples, the schrimshers, Peter lowe? Hell even Jim Batson and Sarah over at HC Blake own a significant amount. There is a lot of major players that I know have some significant amount of property in this city. Are you just listing people who aren’t paying their taxes?

7
iaalaughlinOP•

I'm not done with scraping the property records - I'll post the details of that once I'm done. This is mostly to call out the fact that half the tax debt in Madison is owed by companies.

There's also a great chance that there are many properties owned by the same entities, but they have them each in their own LLC. An example is Coach Stafford LLC. They have a Coach Stafford LLC Series 21, a Coach Stafford LLC Series 34, Coach Stafford Series 29... The group of them own a total of 77 properties... in 49 different LLCs.

I'll see what I can do to pull those out and provide aggregate numbers.

Edit: Coach Stafford LLC is at least partly owned by Stanley Stafford of Stafford Realty.

10
pfp-disciple•

Stanley Stafford was a coach (and driver's Ed teacher) at Sparkman High in the '80s, so it makes sense that he would be an owner of Coach Stafford Realty.

3
samsonevickis•

https://madisonproperty.countygovservices.com/Property/Property/DelinquentParcels

Yes, Stanley IS Coach Stafford.

Stanley was a great basketball player in his youth, but a real prick now for many years.

3
eladabbub•

I’ve known Stanley for years. He’s not a prick, at all. He’s not the most outgoing person granted, and is aloof around people he doesn’t know, but he’s a cool older man if you can get to know him. And can still shoot the basketball.

-2
hamlitonporter•

Can 1 pay them & then put a lien on the property?

6
samsonevickis•

I was just talking about this the other day, Madison county is moving this year to a late fee system, tax auctions will work differently this year, they honestly couldn't tell me how it all worked last August because they were learning as well, best to look into that soon.

3
iaalaughlinOP•

I believe with a tax sale, they have a limited time to pay, otherwise you own the property, but I’m not certain.

2
sjtpayne•

In case anyone's curious or cares, BSFR is actually just a small LLC company that goes back to Conrex Property management. They cash bought a house on our street that they turned around into a rental, and offered a low-ball cash offer on our house when we sold. It's just a huge investment company that buys all over the US, their algorithm has only just started telling them to buy here.

TLDR; Real estate investors are slowly gobbling up Huntsville....like everywhere else.

6
MattW22192The Resident Realtor•

Resicap is following the same playbook just starting to buy properties here in the last year.

Also I’ve seen BSFR more this year as they’ve bought more properties retail via MLS listed properties.

2
iaalaughlinOP•

I traced BSFR back to Brookfield Property Group. Where are you getting Conrex Propert Management?

1
sjtpayne•

Sorry I'm late to respond. If you go to Conrex's website, you can see at the bottom that it says "© 2022 BSFR Property Management".

1
iaalaughlinOP•

Gotcha.

Conrex is a subsidiary of Brookfield Asset Management, according to Conrexs LinkedIn page.

1
[deleted]•

[deleted]

2
Amgraham418•

Conrex bought a few houses in the OCR area and advertised for rent. Bristol Creek development had a few from them and Resicap started moving in as well.

1
witsendstrs•

This kind of isn't a surprise -- if a company which owns multiple properties is delinquent on taxes for one property, they're probably delinquent on them all, as they would likely make a lump payment for the entirety.

1
iaalaughlinOP•

Two things that I found particularly interesting.

  1. That most of these are single properties.
  2. That so few companies make up so much f the past due taxes.
1
witsendstrs•

So you're saying that the bulk of the properties with past due taxes are single parcels with corporate ownership, NOT a bunch of delinquent properties with common corporate ownership? That is interesting. Further, you're suggesting that there are relatively few companies among the property owners with delinquencies on property tax? I must have misread your original comment.

1
iaalaughlinOP•

At least from my initial scan of things, yes.

Store Master, that owes $50k, owes that on a single property.

DEI Huntsville, which owes $35k, owes that on 9 properties... it's pretty much the same value owed on each of their buildings as part of the same complex. - 1101 McMurtrie, buildings B, C, D, E, F...

Parker Land company is the one who owes a ton on a bunch of different properties. It looks like those are scattered to the winds.

HC 1 Real Estate owes $25k, and that's a single property - soon to be subdivided. It's called 'TRACT 1 LIFE CENTERS AT HAMPTON COVEPB #2018-62666'

PRG Investments owes $17k, and its a single property.

Cramer Corp owes on 5 properties, but it looks like they may have taken one of those and subdivided it. Not certain on that.

There are relatively few companies among the property owners with delinquencies. I counted 84 companies out of 793 total delinquent owners.

That said, those 84 companies are responsible for a little more than half of the delinquent property taxes.

3
Jtcmunoz•

Thanks for the shout out! I’m thinking all mine are paid but one slipped through a few years ago😂😂

1