How We Help Clients Navigate Property Tax Appeals

Property Tax Appeal negotiationMost owners of larger properties tend to appeal their assessed values regularly. “It’s kind of a dance between the property owner, the county tax offices, their legal department, and local tax representatives, to lower their tax obligation,” explains Certified General Appraiser Mark Nelson, MAI.

Part of this process means Iowa real estate owners must be prepared to appeal their assessments, which have effective dates as of the first day of January in a given year. This takes into account the condition of the property and any additions to the building in the last year. Owners need to get their assessment appeal completed by April 1 for it to be considered by the Board of Review.

Settling without a trial is the ideal outcome. Working with a local commercial real estate appraisal firm makes this process easier. It also makes success more likely. Once the assessment is complete, local Boards of Review submit their report to the director, then the informal hearing process begins.

In the past couple months, we provided appraisals to several County Assessors in Iowa which helped them successfully settle property tax appeals. The property owners protesting were large retail store owners. Some of the retail owners have locations throughout the Midwest, with one having stores across the United States.

It’s not merely the large, multi-state and international corporations benefitting from this type of appeal. We also provided appraisals for several smaller, local property owners, assisting them in successful appeals. Due to their tighter cash flows, our services can be of greater benefit to these clients.

Roy R. Fisher is an appraisal firm that knows the area and has what the appraisal industry refers to as geographic competence. This was key in navigating the appeal process and paid off with successful appeals. An appraisal from a regional expert can make all the difference.

Whether you run a small business or a large multi-national corporation, you need local and regional experts on your side. Even if your appeal does have to go through a formal court case hearing, often happening in November or December, appraisers like those at Roy R. Fisher are called on to be expert witnesses in such cases.

In the field of corporate real estate, having appraisers who know the region in which your company owns property is vital. As Mark Nelson, MAI says, “This is a significant percentage of our business, and we’re recognized throughout the state for our expertise in this area.”

Reach out and contact us to see if a tax appeal is right for you!

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