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Taxes Taxes. Oh, How We Have To Pay Property Taxes.

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Taxes Taxes. Oh, How We Have To Pay Property Taxes.

We all pay them, and some of us pay way more than the average person because it’s our business.

I’m not sure about you but every time there is a local election I pay close attention to who the possible winner of the local assessors race might be.

At the risk of getting political, it never ceases to amaze me at how two or three different people running for office can have such divergent views on how to interpret (bleed) the system in which all property taxes are assessed.

Yes, I know that there is usually a defined system, and it’s usually mandated by state and local law but why is it that it almost always never seems to be fair and equal.

Of course, I may be preaching to the choir so to speak, but even the more seasoned of us have at some time (many times) whether on the representation or ownership side looked at a tax bill in amazement and shock with our heads just shaking side to side.

“How in hell did they come up with this?”

“It was just raw dirt six months ago.”

“No one from the county has been within a thousand feet of this property ever.”

And yet we know what we have to do.

PAY and pay on time…or else.

Maybe there is some form of relief or help.

Maybe you need to take a more proactive approach to something that flat out affects you and your client’s bottom line.

Here are a few helpful actionable items to get you started written by Anne Sheehan the CEO of Real Property Tax Advisors.

4 Reasons YOU Need to Stop Overpaying on Property Tax.

1) Not be blindsided:

Commercial property assessments – and the resulting tax bill – are known to increase dramatically and without warning, especially in today’s hot real estate market. Unmonitored commercial property tax assessments present a business risk. Outsourcing puts you ahead of the risk.

2) Reduce the resource drain:

The administrative burden of managing corporate property taxes is intense. You need a staff of full-time property tax specialists on your payroll. In reality, you’re probably going to lean on your existing team, but they’re not experts. Outsourcing gives you expertise to shed the burden of paying more than your fair share.

3) Be proactive vs. reactive:

Would you rather receive your tax assessment in the mail, have a heart attack because the county is saying you owe three times what you’ve planned for and then panic about how you’re going to afford it; or would you prefer to have foresight into assessment increases and access to market data to prove what your property is truly worth and what taxes you actually owe?

4) Save money:

Take full advantage of the benefits built into your local tax code. Your local assessor isn’t going to call you to tell you about all the money you could be saving. Remember, nine out of 10 companies overpay on property tax.

Anne Sheehan is the CEO of Real Property Tax Advisors where her team of commercial real estate professionals has been helping clients throughout North America save money on property taxes for more than 20 years. www.realpropertytaxadvisors.com.

Taxes Taxes. Oh, How We Have To Pay Property Taxes.

 

+1 See not one F-Bomb. Do I get any credit for that?

+1+1 Drop a couple and get branded for life.

 

 

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  • rsky1

    Haha I didn’t realize there actually wasn’t a printed F Bomb because my mind read a few……