EXPERIENCE THE ALLOBAR DIFFERENCE

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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.

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To sum it all up - if your assessment is too high, you are paying too much in taxes.

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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.

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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.

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For more information, or if you would like a consultation on your property, contact us today!