By Theresa Vu
One of the biggest expense for businesses is property taxes. Protesting and successfully reducing your tax bill directly improves your bottom line. The commercial appeal process can be complex. Being prepared is key in winning your appeal. Here’s an overview of what to expect:
- Know your deadlines.
Just one missed deadline can end of your chance of protesting that year. Before digging in on the process, take a moment to note the deadlines. You have 30 days following receipt of notice to appeal your value.
- Gather documents.
A successful tax dispute starts with documentation. Gather any documents that could lower the assessed value, such as rent rolls, operating statements, previous appraisals, inspection reports and photos.
- Build evidence case.
Prepare the hard evidence to support your value argument. You will need to provide and prove your opinion of value through the evidence.
- Present your case.
You might present your case in multiple hearings, typically starting with an informal hearing, then an Appraisal Review Board (ARB) formal hearing, and in some instances, arbitration or litigation.
Pro Tip: Get help from a property tax expert.
If you’re looking to save time and potentially achieve a larger tax saving, you should consider hiring a professional. A reputable tax protest company will have expertise in the market and a thorough understanding of appraisal methods and the tax code. All of this information will increase your chances of a successful protest and maximize your tax savings. On top of that, most companies only charge a portion of savings if they achieve a reduction.
Whether you own a single commercial property or a multi-property portfolio, Cameron Property Tax can help your business grow by reducing your tax bill. For more information, please visit www.CamPropertyTax.com.
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