Do you or one of your client’s own a commercial property that you believe may be over assessed?
Did you or one of your clients purchase a commercial property at or near the peak of the last market cycle only to watch the value drop but taxes continue to rise after acquisition?
Has the assessed value of your commercial property increased significantly over the prior year for no apparent reason?
If one of these scenarios describes your commercial property or one of your client’s properties, it may be time to consider a tax appeal. Certain filing deadlines must be met when filing a tax appeal with the County Assessor’s office and we recommend that you consult with the County Assessor’s office as well as a tax attorney before calling our office as we do not offer tax advice, tax planning services, legal analysis or legal opinions.
Our expertise lies in completing impartial and well supported appraisals, which you may choose to use in support for your claim that your property may be overvalued (i.e. assessed above market). When necessary, we also have experience in testifying at tax appeal hearings.
Our fee structure is two-fold. We charge a flat fee for the completion of our own independent appraisal. Should you or your tax advisor determine that it will be necessary to testify at the tax appeal hearing, we would be happy to do so and for these additional services we charge an hourly rate which is outlined in our engagement contract and detailed in our Rate Sheet.
It is very important to keep in mind that our firm will not take on an advocacy role in the outcome of your tax appeal. We will not act as “your agent” in the tax appeal proceeding. You, your attorney or some other party may act in this capacity but as an independent and impartial commercial real estate appraiser, we cannot take an advocacy role in the outcome of your tax appeal. We will however attend the tax appeal fully prepared to defend our value opinion and the methodologies employed in arriving at that opinion.
There is one additional fact that is very important for you to keep in mind when considering a tax appeal. The tax appeal board may 1) agree that your property is over assessed and grant your appeal using your appraiser’s value 2) agree that your property is over assessed and grant only a partial value reduction (less than the assessed value, but more than the value reported by your appraiser) 3) disagree that your property is over assessed and reach the opposite conclusion and actually increase your assessed value causing your tax liability to increase or 4) do nothing. There is some risk involved in pursuing a tax appeal and you should be aware that we cannot and will not be held responsible for the outcome of the tax appeal hearing since their decisions and conclusions can seem arbitrary and be somewhat unpredictable and discretionary.
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