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PROPERTY TAX APPEAL SERVICES
WE SHOULD ONLY PAY OUR FAIR SHARE OF REAL ESTATE TAXES!
Let’s face it— nobody likes paying taxes, but to pay more than your fair share just does not make any sense. In just the past few years, property taxes have increased at an alarming rate... For most investment property, real estate taxes are the largest single expense item found on the operating statement, which in turn dramatically affects the bottom line net income. Unfortunately, many property owners needlessly waste precious capital on property taxes they never should have paid. That’s where we come in. Our focus is to help owners like you reduce their tax burden by effectively appealing unfair and/or inaccurate property tax assessments.
NWF Realty, Inc. specializes in Property Tax Appeals by challenging the County Property Appraiser’s assessed values. Each county has tens of thousands of parcels that must be valued each year; therefore, the Property Appraisers must use a mass appraisal system to determine their value. It is impossible for these mass valuation systems to accurately reflect market fluctuations and individual property characteristics, particularly on income producing commercial properties.
• Tax Appeals are prepared for Apartments, Office Buildings, Retail Centers, Hotels, Industrial Buildings, and Vacant Land: individual properties or whole portfolios.
We begin our process for 2010 property tax appeals in January 2011 and must limit ourselves to a manageable number of property appeals per year, on a first come, first serve basis. Although the TRIM Notices will not arrive until August, we select likely candidates and prepare appeal reports in preparation for filing during the allotted 25 day window. Unless a blatant mistake is uncovered, the appeal must be filed within 25 days of receiving your TRIM Notice.
Time is of the Essence - Contact us today!!
We will provide you a free opinion of whether or not your property would make a good candidate for appeal. If upon review, we feel that your assessed value is fair and in-line with comparable properties, we will tell you so. We will not waste your time or ours.
This peace of mind costs you absolutely nothing!!!
If however, we fell that your property’s assessed value could be reduced, we will meet with you, visit the property and begin to negotiate a reduction with the county appraisers. We verify all data points for accuracy and will prepare a detailed narrative Assessment Appeal Report that will be submitted to the Value Adjustment Board (VAB) if the necessary adjustments are not made. There is no up-front fee to retain our firm to negotiate a reduction on your properties tax assessment.
Once retained, our services also include:
- File all necessary petitions, forms and reports, including paying the mandatory fees, for the client before the Value Adjustment Board (VAB)
- Research & analyze subject properties utilizing on-line real estate systems as well as subscribed trade journals, publications etc.
- Photograph and inspect the subject properties looking for key discrepancies that may not be picked up by the Property Appraiser's office
- Photograph and investigate comparable market sales to be included in market analysis
- Develop income approach, utilizing local market rent comparables, vacancy factors and other pertinent market conditions
- Prepare in depth analysis with accompanying schedules, plat maps, photographs and other important evidence compiled as the Assessment Report to be used in combating the Property Appraiser's current assessment
- Negotiate as many cases as possible with the Property Appraiser's office before they are scheduled to be heard by the Value Adjustment Board
- If necessary, argue these well developed cases before the Special Master (appointed by the Value Adjustment Board)
- If necessary, assist clients in receiving their refund check (or reduced tax bill) from the Tax Collector's office
We work with our clients on a very fair contingency basis – If and only if, we secure a reduction in your property tax liability, we bill for a fee equal to 50% of the first year’s tax savings. Of course, the property owner also receives 50% of the first year savings and 100% of all future year’s tax savings.
Frequently Asked Questions:
Does it make sense to save on professional fees and handle my own tax appeal?
Should I hire an attorney to represent me?
How do I evaluate an experienced property tax advisor?
DOWNLOAD VALUE ADJUSTMENT BOARD AUTHORIZATION FORM
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