Appealing Your Business Personal Property and
Commercial Real Estate Property Tax
When reviewing commercial real estate or business personal property tax, taxpayers should not assume the assessment placed on their property and the corresponding property taxes are accurate. Values that are computer-generated with minimal information involved or based on inaccurate depreciation tables could result in you paying significantly higher taxes.
Paying taxes based on fair market value should actually be fair!
Appeals and Protests
Personal Property and Real Estate Property Tax Appeal Process
Throughout the United States, the process of challenging a property tax assessment is referred to in various manners, including property tax appeal, protest, abatement, petition, and more. Regardless of the name, the goal is the same: to reduce the property’s tax assessment, saving valuable tax dollars.
Now is the time to consult an expert to ensure that you only pay your fair share.
PVS specializes in all things property tax, from filing personal property tax returns to preparing real property tax estimates for commercial acquisitions and new construction. But perhaps our most important role is the handling of property tax appeals on behalf of thousands of taxpayers across the country. The property tax experts at PVS have been cultivating and implementing valuation methodologies, developing relationships with assessors across the country, and working to reduce our clients’ property tax liability for decades.
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.
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