If you’ve ever been hit with an unexpected amount of commercial property tax, you’re not alone. Many property owners go through this every year. If your commercial property taxes seem unfairly high, it’s time to protest them and ensure your property value has been assessed correctly. In this article, we will look at commercial property tax protests and how they work so that you can determine if your business qualifies for one.
Commercial Property Tax Protests
Commercial real estate property taxes are usually higher than residential properties because the value is greater. Commercial properties generate more income and have a higher value than residential properties. The property tax amount is based on the assessed value of the property and its location in a municipal tax rate table.
If you think the assessment information given to you by your local government is inaccurate, you can appeal. You will have to pay the amount they arrive at, but with an appeal, you can be sure that the assessment done on your property is accurate and that the right market value for it is what it’s supposed to be.
While the process differs in each city, it usually follows the same general steps. For example, a commercial property tax protest is usually made by first filing an appeal with your county board of equalization. If the board finds that you are within your rights to appeal and uphold your complaint, they will then distribute it to the city’s governing body for further review.
Once this has happened and any appeals have been considered (or not), a decision will be made based on what is appropriate for them to decide on regarding your complaint.
The Process Of Protesting A Commercial Real Estate Property Tax Can Be Daunting
Protesting a commercial real estate property tax can be complex, expensive, and time-consuming. It is also very stressful. If you do not understand the process or how to proceed with your protest, it may be easier to pay the bill rather than deal with the headache of the whole thing.
In any event, if you decide to protest your commercial rental property taxes, here are some pointers that may help:
Choose an attorney who knows what they’re doing. The last thing you want is for someone without experience in this area to represent you on your behalf during this process. You should get referrals from friends and family members regarding attorneys who have successfully handled other people’s commercial tax protests before deciding which one will represent you in court (or whatever venue is necessary).
An experienced attorney can advise you based on their knowledge of local laws and legal precedent pertaining to such matters within their practice area(s) of practice.
If you believe your commercial real estate property taxes are too high, you can do something about it.
Bottom Line
Commercial real estate property taxes are usually higher than residential properties because the value is more significant. The process of protesting a commercial real estate property tax can be daunting, but you should always consult with an attorney who knows what they are doing. If you believe your commercial real estate property taxes are too high, don’t hesitate to contact us today for assistance in filing a protest against them.
Have questions about commercial property taxes? The Ray Tax Group is Texas’ Premiere Property Tax consulting firm. We are a team of seasoned professionals, licensed attorneys, real estate agents, and property tax consultants with knowledgeable support staff.
Contact us here to see how we can help you save.