Tag Archive: "Property Tax"
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Property Tax Appeals
The commercial real estate industry continues to face challenges with high interest rates, looming debt maturities, low transaction volumes, wide bid/offer spreads, and reduced property values. It would be easy to assume that local property tax assessors would take these widely publicized issues into account with their assessments. Jack Schinder says otherwise: “You might […]
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Nevada Property Owners, Don’t Roll the Dice with Property Tax Appeals!
Nevada appraises real property annually. Owners are informed of the assessed property values, as determined by the Assessor’s office,1 in writing on or before December 18th. As we have discussed previously on the blog, changes in assessment value are based on market conditions and recent transaction activity. The dramatic shift in interest rates and the […]
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Florida Property Owners, You Are On the Clock!
Florida county assessors are required to re-appraise real property annually. Property appraisers establish the value of a property each year as of January 1st. They also review and apply exemptions, assessment limitations, and classifications that can affect a property’s taxable value. Value changes from prior assessments are typically based on market conditions and transactions that […]
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More on Property Tax Appeals
Last week, we stressed the importance of evaluating, and potentially appealing, property tax assessments. After an assessment notice is sent out, there is usually a short window for a property owner or their representative to file an appeal. The appeal process, for the most part, is a three-tiered process: When appealing an assessment, there are […]
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Appealing a Property Tax Assessment
It is important for CFOs and their accounting teams to focus on property taxes for several reasons. First, businesses tend to own a significant amount of real property, and tax rates on commercial property are generally much higher than the rates on comparable residential property. Second, many states and local municipalities levy taxes not only […]