Are you paying too much in property taxes on your commercial property? Is your property over-assessed? Do you want to decrease your tax burden and increase your net operating income? Allobar Strategies is here to help!
When you set out to lower your real estate property taxes, what you are actually trying to do is lower your property’s assessed value. Rather than claiming that your taxes are too high, you’re claiming that your local assessor’s implied assessment of your property is too high, resulting in you bearing more than your fair share of the total tax burden.
State law dictates that local assessor must base property assessments on fair market value. Therefore, the more a property is worth, the higher the property taxes. For this reason, it is critical that local assessors ensure all property assessments reflect an accurate fair market value. However, assessors don’t always assess properties accurately at fair market value. Sometimes a single property is inaccurately assessed, and other times inaccurate assessing can affect an entire assessing district. Regardless, inaccurate property assessments lead to inaccurate property tax allocations.
To sum it all up - if your assessment is too high, you are paying too much in taxes.
The good news is that every state provides a remedy for over-assessed and over-taxed properties. Property owners and/or triple net tenants have the right to challenge inaccurate assessments through the statutory tax abatement process. Since the statutory tax abatement process can be complicated and time consuming, many property owners choose to have an experienced agent represent them – just as they might choose to have an accountant prepare their income tax returns.
The proper preparation and presentation of your case is critical to its success; the assessment of a property is always presumed to be correct, leaving the burden of proof on the petitioner. Allobar’s team knows the assessors, appraisers and attorneys that represent municipalities, enabling us to best develop a strategy to obtain a reduction in your assessment. But don’t let our strong connections to the community fool you- we are strong advocates for each of our clients and work tirelessly to adjust inaccurate assessments and taxes to as close to fair market value as possible.
For more information, or if you would like a consultation on your property, contact us today!
Allobar Strategies provides unparalleled personalized real estate tax consulting services to a broad range of commercial clients in New Hampshire, Massachusetts, and Connecticut. With over 30 years of experience, our team of property tax representatives and valuation professionals work to create and implement tax strategies to enhance the value of our clients' real estate. We are ready and able to serve as your property tax advocate and advisor.
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We Make Your Business Our Business
We handle a broad range of property tax consulting services for commercial real estate taxpayers in New Hampshire, Massachusetts, and Connecticut. We specialize in all commercial property types, including industrial; retail; multi-family; and special use properties. Whether you need assistance with property tax appeals and abatements, property tax management, or property tax projections, we can help you with all of your property tax needs.
We are here to provide our clients with personalized property tax strategies. Contact us to see which of our services best meet your needs.
Allobar Strategies is a member of the Greater Concord Chamber of Commerce, Business and Industry Association of New Hampshire, and NHCIBOR.