FORT WASHINGTON, Pa.–(BUSINESS WIRE)–With inflation, rising energy costs, supply chain disruptions and the continued fallout of the pandemic putting financial pressures on commercial property owners, Incenter Tax Solutions urges them find new ways to maximize savings, including reviewing their property tax assessments.
“As real estate values continually rise and fall with market conditions, these valuations are not always adjusted correctly, especially in today’s commercial market,” said Alison Tulio, Esq., President of the company, whose mission is to ensure that property taxes are accurate. and fair. “We tell our customers to be proactive and have their ratings reviewed every year so they never pay too much.”
According to the National Taxpayers Union Foundation, various experts estimate that “between 30 and 60 percent of taxable property in the United States is overstated.”
Falling assessments could free up capital for property improvements, help compensate mall owners for the loss of anchor tenants and give owners of multi-family properties an edge when competing for new tenants.
“The opportunities to take advantage of this potential source of hidden savings are plentiful,” Ms. Tulio said. Here are some examples :
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Reduce (or not increase) rents to keep tenants happy and prevent them from moving to “a better place”
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Added equipment, co-working spaces, and safety/security improvements to make buildings more attractive for hybrid working
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Reorient restaurants to accommodate fewer on-site meals and more take-out/delivery
Incenter Tax Solutions, which has a nationwide network of real estate attorneys and appraisers covering all 19,495 municipalities nationwide, provides free property assessment reviews to their commercial clients.
If the firm determines that they are excessive, it will offer to handle the entire appeal process, which includes preparing and filing an appeal free of charge, with the exception of an initial assessment (which clients then possess), and to attend a hearing if necessary. Incenter Tax Solutions only receives a one-time lump sum compensation if the appeal is successful. Company executives prevailed on behalf of their clients 100% of the time, saving them thousands of dollars.
Tax appeal deadlines vary by state, ranging from May 15 (in most cases) for Texas and June 1 for Colorado to August 1 for parts of Pennsylvania.
For more information, contact Incenter Tax Solutions at 1-888-901-2287 or submit a request at incentertaxsolutions.com.
About Incenter Tax Solutions
Incenter Tax Solutions protects commercial and residential property owners from overpaying their property taxes. The company is part of Incenter LLC, a family of 11 companies that helps mortgage banks and real estate finance organizations improve their performance. See incentertaxsolutions.com for more information. To learn more about Incenter, visit incenterms.com.
