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, are often the largest operating expense for business property owners in the United States. Effectively challenging an assessment that exceeds the current market value of a property allows taxpayers to reduce this major expense significantly.
However, commercial real estate investors must overcome the initial presumption of correctness granted to some 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 commercial real estate’s actual fair market value. By partnering with the commercial real estate professionals at PVS, property owners can effectively challenge assessments exceeding 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.
I want an accurate valuation of my commercial real estate investments for property tax purposes
What makes something commercial real estate (CRE)?
CRE refers to properties used solely for business purposes. These include office buildings, 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 generates rental income or capital appreciation.
CRE properties are subject to different regulations and considerations than residential properties, including taxation, zoning laws and lease terms.
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 evaluates various valuation methodologies and their impact on your property’s current value. Our expertise is unmatched when it comes to understanding the commercial real estate market.
With our practical tools, communication and techniques, we have a proven track record of successfully producing reductions/savings.
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 that the value of the property assessed is excessive, we will work with the local tax assessor to educate them on a commercial property tax appeal basis.
We strive to collaborate with assessing jurisdictions to minimize any negative impact on our clients.
PVS Methodologies
- Income Approach: For the income approach, our commercial property consultants 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 through our building valuation services.
- 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 to lower your property taxes?
Determine the full property tax savings potential in your commercial real estate property with PVS as your trusted commercial real estate tax firm.
Our commercial property tax specialists can look deeper at your assessment and guide you through the property valuation process.
Contact us today to maximize property tax savings and ensure fair assessments.
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, Georgia, by $25M, resulting in $204,918 in property tax savings.
Read More - PVS represented a property owner in their commercial real estate tax appeal for an excessive property valuation increase on a closed, vacant box store in Missouri. Through the appeal, PVS reduced the assessment by 50%, saving the taxpayer $89,665 in property tax dollars.
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