Follow this guideline below to have a hassle-free property tax assessment appeal for your commercial properties in the USA.  

1. Know all the rules for reassessment in your region  

Each county and jurisdiction has very different rules for property tax reassessment in their region. The timelines for filing appeals are different, and the assessment process is different. Check the tax assessment notice you got from your local office. There will be clear instructions for appeal dates and timelines.  

2. Check the property tax benefits you deserve 

Any property depreciation value, any change of ownership, change in asset value, new tax laws and other such factors need to take into consideration during evaluation. Also, the size of the commercial property, its type, its age, and its physical conditions are all crucial factors. There are certain benefits that most jurisdictions offer under these categories. Make sure to check under which categories you can benefit. 

If your property faced any serious damage over the last year and that has caused any change in the value of the property, even that needs to be taken into consideration. 

3. Recheck the assessment and verify the facts 

You must visit the local property tax sites to check and verify your assessment statement. According to reports, in many counties in the USA, there is an unsaid practice where property owners can make an informal appeal to the local authorities. The appeal goes to the local Board of Equalization and Review. Then you can opt for a settlement outside the court without a formal appeal. If this is the case in your area, you must check out this option. 

But if there is no chance for an informal appeal, you must opt for a formal appeal process. But make sure to verify your facts before you go ahead with this step.  

4. Compare your property with similar properties 

Before you file an appeal, always compare your property with others to recheck the value. If there are similar commercial properties in the area, see how they have been evaluated. This is a common practice to always evaluate similar properties in comparison to each other to get the best market value. If you see a vast discrepancy then there is a solid ground for argument.  

5. Collect evidence to build your appeal 

When you plan to file an appeal for your property tax assessment and challenge the government reports, you need evidence to prove your point. This can include rental agreements, leases, asset valuations, and any evidence of depreciation or damage to the property. Or in case you spent money to conduct hefty repair works to make the property usable for your tenants. All of these costs need to be documented for you to make a valid appeal in court or with your local authorities.  

6. File an appeal and show up for your hearing 

Once you have all the evidence needed to prove your case, you can file for an appeal and show up with the evidence at the hearing. In such cases, you will need to fight your own case without any external help in case you want to do it independently. This can be challenging because the city will bring real estate experts and lawyers to fight on their behalf. Reaching a settlement and getting a refund can become tougher.  

7. Consider hiring a professional tax appeal service provider  

To make things simpler, it is always best to work with a professional tax appeal service provider. Like Assetsoft, here we assess your property, and file the appeal on your behalf. We also gather the evidence on your behalf and then build the case. Then we will also go to the meetings and hearings with you with our expert team to ensure you get a justified reassessment.  

We offer our expert commercial property tax assessment and appeal services for most commercial properties. Our expertise lies in properties like, 

• Office spaces  

• Retail real estate like shopping complexes, malls 

• Industrial areas like factories and warehouses  

• Multifamily properties  

• Hotels and restaurants  

• Special purpose properties (self-storage, churches, temples, or other religious places, educational institutes)