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Property Tax Review

Property_Tax_Review_Audit

Property tax reviews are one of the fastest ways to significantly reduce annual corporate expenses. SIB has top property tax experts in-house with over twenty years combined experience securing major savings for companies in all 50 states.

Our initial review will cost nothing out of pocket. We earn our fee only if we successfully renegotiate your tax rates, billing amounts and obtain refunds, if available from previous years.

Our Property Tax Review process covers:

  • Personal Property Tax Compliance, Personal Property Tax Review
  • Tax Portfolio Management, Tax Obsolescence Study, Tax Appeal / Litigation Support

Our thorough investigations include:

  • Whether your assets are being properly valued based on use, construction type, size capacity, etc.
  • The fair market value of the property in today’s conditions
  • Economic obsolescence factors that may have arisen in the industry
  • Functional obsolescence that may exist, such as add-on construction or an out of date design

Frequently Asked Questions

What causes property assessments to change?

Many factors can change the assessed value of your property. Events such as changes in tax laws, zoning changes, age of the property along with the value of surrounding properties are all contributing factors to assessment changes. SIB reviews the current tax laws, compares that data with other assessments, runs Net Operating Income Reports, evaluates the re-construction costs, market feasibility reports and analyzes your property’s assessed value vs. sales of comparable properties.

How does the taxing authority assess my property?

Taxing authorities use Mass Appraisal Software to determine property values, basically adopting a “one size fits all approach” of valuing your property. As no two commercial properties are alike, this method of valuation does not favor you, the taxpayer.

Should I file a Property Tax Appeal?

Yes! Over 65 percent of all commercial properties in America are over-assessed. On average, up to 70 percent of the commercial properties challenged receive a refund and an annual reduction of anywhere from 10 to 25 percent on their tax bill.

How much will I save when I win my appeal?

The average annual reduction is typically between 10 and 20 percent, but on many properties, the percentages are even higher.

What is the cost for a Property Tax Appeal?

SIB’s cost savings review and recovery services have no upfront cost. We earn a percentage of the final savings. If we don’t find anything, we don’t invoice you.

If I file an appeal, can my taxes be increased?

No, Taxing Authorities cannot take punitive action against you by raising your taxes.

Guide to Property Tax Due Dates by State

Why should I use SIB?

We have over 20 years of experience successfully negotiating property tax reductions on behalf of our clients. Our formula for success is based on our knowledge of state tax codes and your property’s real market value.