Business Personal Property and Commercial Real Estate Property Tax Appeal
Accurate property tax assessment I Hassle-free appeal application I Reduced property taxes
Don’t assume that the assessment of your commercial real estate (CRE) or business personal property (BPP) taxes is always accurate. Values that are computer-generated with minimal information or based on inaccurate depreciation tables could result in significantly higher taxes.
What is a property tax appeal?
A property tax appeal or protest is a formal process by which property owners like you can challenge the assessed market value of your property for tax bill purposes. County assessors determine the value of properties within their jurisdiction and tax commissioners calculate taxes accordingly.
However, there may be instances where property owners believe that the assessed value is inaccurate or unfairly high, leading them to file an appeal.
Throughout the United States, the assessment appeal process is referred to in various manners, including property tax appeals, protests, abatements, petitions and more. Regardless of the name, the goal is the same: to reduce the property’s tax assessment and save valuable property tax dollars.
Contact us to discuss filing an appeal or protest.
Why hire a firm for a property tax protest?
When you file an appeal, the burden of proof is on you. So, it’s crucial to gather all relevant documentation and evidence to support your case. Managing this process can be complex and demanding.
Property Valuation Services is your ideal partner for a hassle-free property tax protest:
- We understand the complexities of the BPP and CRE property tax protest processes.
- We have a proven track record of successfully producing reductions.
- Our team of nearly 100 dedicated professionals is led by experienced property tax professionals and backed by a Member of the Appraisal Institute (MAI) and the American Society of Appraisers (ASA).
- We serve more than 800 clients annually with nearly 40,000 property tax parcels across all 50 states.
- PVS is fully automated and committed to staying at the forefront of technology to provide efficient and accurate services.
What is the process involved in filing a property tax appeal?
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Review Assessment Notice
Review the assessment notice sent by the tax assessor’s office — pay attention to the assessed value of the property, the deadline for filing a protest and other relevant information. -
Gather Supporting Evidence
Gather specific supporting evidence to strengthen your case, including recent sales of comparable properties, appraisal reports, photographs showing property condition and other relevant documents. -
Complete Appeal Forms
Get protest forms from your local board or website. Complete the forms accurately and provide supporting documents. -
Submit Protest
Submit your completed protest forms and supporting documentation within the specified deadline. -
Attend the scheduled hearing date (if applicable).
Your protest may be reviewed at a formal appeals hearing. Prepare your arguments, organize your evidence and articulate why your assessed value should be adjusted. PVS specializes in property tax, and our most important role is handling property tax appeals for thousands of taxpayers across the country. For decades, PVS’ property tax experts have been cultivating and implementing valuation methodologies, developing relationships with assessors across the country, and working to reduce our clients’ property tax liability.
Case Studies
We secured a national hospital operator $690,000 in commercial real estate property tax savings.
A national hospital operator recently constructed a brand new building in place of an older facility. Upon opening, the old facility was vacated except for a minor amount of space for office use. The old hospital was functionally obsolete, having arrived at the end of its economic life as an acute health care facility. Local assessors maintained the same value on the former hospital even after it was vacated and no longer operational. As a result, PVS worked to revalue the former hospital facility by quantifying functional obsolescence.
Our property tax experts appealed and reduced the market value by $19M for the facility each year since its opening.
In 2018, an assisted living facility was constructed in Michigan, opening shortly before the global pandemic. The facility faced issues filling the facility and paying expenses due to the worldwide pandemic. The property tax experts at PVS helped quantify this external obsolescence to calculate the true market value of the facility, given the circumstances of the pandemic.
Commercial Real Estate Tax Appeal
PVS successfully secured a $690,000 commercial real estate property tax saving for a national hospital operator by addressing the overvaluation of a vacated, functionally obsolete hospital facility. Despite local assessors initially maintaining the full value on the old facility even after its cessation as an acute care center, PVS managed to revalue it by quantifying its functional obsolescence.
PVS property tax experts successfully appealed and reduced the market value of a Michigan assisted living facility by $19 million annually since its opening in 2018. The facility faced challenges in occupancy and financial sustainability due to the pandemic, leading PVS experts to quantify the external obsolescence and adjust its market value accordingly.
Business Personal Property Tax Appeal
PVS secured $34,000 in property tax savings for a client after filing a Texas property tax appeal and appearing before the appraisal review board.
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