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1981 and plans for the office addition in March 1983 and oversaw
construction of both. Petitioner signed the building permit for
the office addition which stated that the addition was estimated
to cost $10,400.
Petitioners’ county property tax statement states that
improvements (i.e., everything but the land) at the Hoefgen
Avenue property were worth $112,020 in 1984 and $158,800 in 1985
and 1986.
2. Condemnation Sale of the Hoefgen Avenue Property
The City of San Antonio threatened to condemn the Hoefgen
Avenue property in the summer of 1990. Petitioner hired John
Neal (Neal), a real estate appraiser, to appraise the
improvements on that property. Neal estimated that the
replacement cost of those improvements as of June 8, 1990, was as
follows:
Structures Replacement cost
Office building $193,011
Transit warehouse 77,012
Additions (e.g., sheds, fans
& openers, canopy area,
stairs, fencing, etc.) 36,499
Total 306,522
The City of San Antonio bought the Hoefgen Avenue property
under threat of condemnation for $425,000 on September 17, 1990.
Petitioner received net proceeds of $371,486 from the sale (the
condemnation proceeds). Petitioner elected to defer the gain he
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