If you own a shopping center or strip mall, you are already aware of how much of a bite property taxes can take from your bottom line. If you own a new lease retail investment, those taxes can also reach into your tenant’s pockets as well. Higher pass-through expenses can, on average, lead to greater vacancies and increased tenant turnover, which also hurts your bottom line.
If you own a retail property and think you or your tenants are paying too much in taxes, you should contest your assessment. With years of experience before the Value Adjustment Board, our team of real estate tax professionals will guide you through the assessment challenge process and will zealously argue your claim.
There are many reasons why the property appraiser may not be fairly valuing your property including: unique nuances of the property’s location, unknown or unquantified by the property appraiser, higher than market costs, higher than market insurance costs that are unrecognized by the property appraiser, deferred maintenance issues, limiting the property’s true market potential, high vacancies, long-term lease that prevents a high property utilization, external issues limiting the property’s market potential, and regulatory and zoning issues limiting the property’s market potential.
Our team of professionals are experienced in spotting these issues and advocating on behalf of owners to reduce their tax burdens.