Property taxes are one of the largest recurring operating expenses associated with real estate property. A high percentage of any commercial property owner’s cost is attributed to ad valorem taxes. For this reason, it is imperative to review all assessments annually to ensure property has been appropriately assessed and is not subject to excessive taxation. Having a knowledgeable consultant can greatly impact the bottom line and positively affect profitability.
- Real estate assessment analysis
- Tax appeal/protest
- Income and expense (P&L) analysis
- Property tax budgeting and consulting
- Litigation support
- Real property lease evaluation
Expert property tax consultants work to get the lowest defensible tax liability for each commercial real estate property by:
- Identifying tax savings opportunities for clients by reviewing appraisal records for inaccuracies that may lead to an incorrect assessment
- Preparing valuation analyses to achieve assessment reductions on real property through informal negotiations or the administrative hearing process
- Preparing obsolescence studies, useful life analyses, cost of capital studies, forecasts of cash flows, market transaction studies, and other general consulting reports to support a fair and equitable value
- Supporting legal representation in property tax claims and litigation by assisting with development of overall case strategy, preparing deposition and cross-examination questions, reviewing the opposition’s valuation report, preparing a review appraisal, and testifying as a fact or opinion witness
Featured Thought Leader
Steve brings more than 20 years of transaction real estate experience to his clients. He helps businesses identify opportunities for the lowest defensible tax liability for their commercial real estate. Property tax expense is typically the largest recurring annual expense category for a commercial property owner or tenant. Managing that expense is imperative to Wipfli clients’ bottom line, and it is extremely important in keeping a property competitive for existing and prospective tenants.
Commercial Real Estate Assessments: Are You Paying Too Much in Real Estate Taxes?
Understanding whether your commercial real estate has been appropriately assessed can be very complicated. Learn about assessment issues, valuation techniques, and payment of real estate taxes.
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