How does an in-depth knowledge of real estate values benefit a tax appeal?

Any municipality has so many properties in their jurisdiction that they cannot appraise each property individually. They will raise property values unilaterally for each area. In reality, office buildings that would be within this area that are declining in value are then challenged with tax increases. The municipality would evaluate inflation at a particular percentage increase and then apply that across-the-board to that particular area. For instance, 10% on a $20 million office building is a significant, $2,000,000 tax increase, especially if your lease rate is below stabilization.

How are property taxes increased?

Municipalities oversee so many properties that they cannot appraise each one individually. Instead, they unilaterally raise property values across entire areas. The municipality determines a percentage increase and applies it uniformly to the affected area, without regard for the unique factors (physical depreciation, remaining economic life, etc.) affecting value for individual parcels. For example, a 10% increase on a $20 million office building results in a substantial $2 million assessment hike, which can be especially burdensome if the contract rental rates in place at the time of the assessment change are below stabilization.

How often are property taxes increased?

At what time property taxes are increased, depends on the state in which the property is located. For instance, in Texas, where there is no income tax or city taxes, property taxes can be increased on an annual basis. The good news is PTA can appeal those taxes on an annual basis and continue to save you money.

How much does a Tax Appeal cost?

We negotiate your tax appeal on a contingency fee. If we don't save you any tax dollars, then you owe nothing to our company.  Hire Professional Tax Appeals to represent you and we will save you tax dollars. You have everything to gain and nothing to lose!

What is a tax appeal?

A property tax appeal (also known as a property tax protest or grievance) is the process of disputing a property's value with the relevant tax assessor, usually with the goal to reduce property taxes.
The steps taken to reduce a property's tax assessment vary widely across states and counties, but almost all property tax jurisdictions have a process for contesting a property's taxable value.

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