Exclusive of debt, property taxes can be the single largest operating expense incurred by a business property owner. Because taxing jurisdictions are afforded the presumption of correctness, the taxpayer is burdened with proving the assessment exceeds fair market value.
Property Valuation Services has been successful in assisting taxpayers to identify and prove their true fair market value. Remember, appraisal is an art, not a science.
Are your real estate assessments being thoroughly reviewed each year?
Due to the mass appraisal approach and the sheer size and complexity of commercial properties, all assessments should be reviewed annually.
Property Valuation Services has a diversified group of business, tax professionals and appraisers that specialize in the review of valuation methodologies and how they relate to a property’s true market value. Property Valuation Services’ tools, communication and techniques have been utilized as key components toward successfully producing reductions.
Full real estate tax representation services:
- Assessment-Reduction Services
- Compliance Services
- Assessment and Tax Bill Approval
- Appraisal Services
- Assessment Uniformity Studies
- Abatement and Exemption Research
- Tax Accrual Forecasting
There are several components to consider when valuing complex properties: real property, business personal property and business value. PVS recommends that every assessment be thoroughly reviewed to expose errors that lead to over-assessments.
PVS specializes in helping organizations with complex properties such as:
- Manufacturing Facilities
- Regional and Super Malls
- Hotels, Resorts and Country Clubs
- High-Rise Office Buildings
- Hospitals and Related Medical Facilities
Process to Recovery
As your representative, we will:
- Evaluate your assessment for tax reduction
- Prepare an analysis of taxable value
- Explain our position for tax reduction
- Explore and pursue all reasonable reliefs
Methodology for Recovery
PVS will evaluate the assessed value of your real estate property in light of variables such as: equitability, building age and type, improvements needed, vacancy, income, all forms of depreciation and the highest and best use of your property. In the case of healthcare properties, we also take into consideration additional items such as: balanced budget act, referral contracts and payor mix.
If the assessed value is excessive, we develop a strategy, inform the local Tax Assessor on the basis for an appeal and, if necessary, file an appeal. PVS prefers to work with, not against, the local assessing jurisdiction to achieve a value that is in the best interest of our client.