Expert Commercial Real Estate Valuation Services

Ensure accurate commercial real estate valuation and documentation. Avoid additional property tax liabilities and penalties — benefit from our expertise from data entry to commercial real estate property tax payments.

Commercial real estate (CRE) property taxes, excluding debt, can often be the largest operating expense for business property owners in the United States. Effectively challenging an assessment that exceeds the fair market value allows taxpayers to reduce this major expense significantly.

However, commercial real estate investors must successfully overcome the initial presumption of correctness granted to taxing jurisdictions to secure such property tax savings.

Reduce the fair market value of your commercial real estate property with PVS experts.

PVS specializes in assisting clients in identifying and proving the actual fair market value of commercial real estate. By partnering with PVS real estate professionals, property owners can effectively challenge assessments that exceed the fair market value, leading to significant property tax savings.

Collaboration with a commercial real estate tax firm can empower owners to free up capital for reinvestment in their business, driving growth and enhancing services.

What makes something commercial real estate (CRE)?

CRE refers to properties used solely for business purposes. These include office buildings and spaces, retail spaces, hotels, workspaces, industrial buildings and other similar properties. Multifamily apartment buildings are also CRE of the owner leasing to tenants. The defining factor is that the property is used to generate income through rent or capital appreciation.

CRE properties are subject to different regulations and considerations than residential properties, including taxation, zoning laws and lease terms.

Why does commercial real estate valuation matter for your business?

According to the Tax Foundation, “Property taxes matter to businesses for several reasons. First, businesses own a significant amount of real property, and tax rates on commercial property are often higher than those on comparable residential property. Many states and localities also levy taxes not only on the land and buildings a business owns but also on tangible property, such as machinery, equipment and office furniture, as well as intangible property like patents and trademarks. Across the nation, property taxes impose one of the most substantial state and local tax burdens most businesses face.”

Are your commercial real estate appraisals thoroughly reviewed?

Given the mass appraisal approach and the complexity of commercial properties, annual assessment reviews are crucial. At PVS, our team of skilled commercial real estate valuation professionals and appraisers specialize in evaluating valuation methodologies and their impact on your property’s actual market value.

With our practical tools, communication and techniques, we have a proven track record of successfully producing reductions. To take a deeper look at the value of your property, our comprehensive real estate tax representation services include:

Assessment-Reduction
Appeals
Compliance
Assessment Uniformity Studies
Assessment and Tax Bill Approval
Abatement and Exemption Research
Appraisal
Tax Accrual Forecasting
Reporting properties

If we find the assessed value excessive, we will work with the local assessor to educate them on the basis for a commercial property tax appeal. We strive to collaborate with assessing jurisdictions to minimize any negative impact on our clients.

PVS Methodologies

We believe that thorough assessments are essential in determining the value of CRE property. By reviewing every assessment meticulously, we aim to uncover errors that may result in over-assessments.

At PVS, our different commercial real estate valuation methods include:

Market Approach: We consider the market conditions, price of the property and comparable properties to determine value.
Income Approach: We analyze the net income potential of the subject property to assess its commercial property value.
Cost Approach: We evaluate the construction methods and cost of improvements to determine the value of a property.
Additional Considerations: We also take into account various other factors, such as:
- Equitability: Ensuring fair and equitable assessments by analyzing comparable properties’ assessments.
- Commercial Building Age and Type: Considering the building’s age, type and unique features.
- Needed Improvements: Assessing the need for any improvements that may impact the accurate valuation of a given property.
- Vacancy Rates: Evaluating the impact of vacancy on property value.
- All Forms of Depreciation/Obsolescence: Considering depreciation and obsolescence factors.
- Highest & Best Use of Your Property: Determining the optimal use of every property’s square footage for maximum value.

Are you looking for ways on how to lower your property taxes?

Determine the full potential of your commercial real estate property with PVS as your trusted commercial property tax specialist.

Deadlines

Nebraska Jun 30, 2024
Utah Sep 15, 2024

Success Stories - Real Results, Real Savings

Through evidence exchange and negotiations with the county, PVS reduced the assessment of an expansive corporate office campus in Fulton County, GA by $25M, resulting in $204,918 in tax savings. Read More
PVS represented a property owner in their appeal of an excessive property valuation increase on a closed and vacant big box store in Missouri. Through the appeal process, PVS reduced the assessment by 50%, saving the taxpayer $89,665 in tax dollars. Read More