Property tax management takes more than just addressing your assessment when it arrives, and ignoring property taxes the rest of the year.
To manage your property taxes effectively, you need to invest resources into addressing your property taxes year-round. A large part of property tax management is proactively identifying areas of potential savings.
Explore three reasons you should take a proactive approach to property tax management and partner with a property tax consultant now.
1. Jurisdictions Need Information
Beyond just filing your appeal and preparing for the next property tax assessment, you’ll likely have additional interactions with your jurisdiction throughout the year. It’s become increasingly common to get requests for data, site inspections and other questions from your jurisdiction about your properties.
This is especially problematic if you have more than one property in your portfolio. Imagine if you had 30 properties, and you received requests for data about each one. And all require a short turn-around. When you partner with experienced property tax consultants, they're available to field these questions as they come in, which can be multiple times a year.
2. You're Prepared For Your Next Assessment
When you receive your property tax assessment, you usually have a short window of time – sometimes as short as 15 days – to file an appeal if you need to. If you're already partnered with a property tax expert, you're saving valuable time in the appeal process - he or she knows the tax value of your property and how to secure tax savings. Instead of being surprised when your assessment arrives, be prepared by having a property tax expert proactively working on your behalf.
3. Your Appeal Success Rate Increases
Building a successful property tax appeal requires skill and expertise to research and prepare your case and then the expertise to present your case persuasively. It takes more than a PowerPoint and the completion of some paperwork to conduct an appeal that will successfully challenge your jurisdiction.
You need access to industry data and market comparisons to support your request for a lowered assessment. Most owners don’t have access to these resources, but a property tax expert does.
Ensure that you have a strong force in your corner, working on your behalf to save you as much as possible on your property taxes. Partnering with a property tax consultant is the best chance you have to lower your property taxes.
Don't wait until you have a property tax assessment in your hand to consider partnering with an expert. Take a proactive approach to your property tax management, and find the right partner for your business now.
Learn more about building a successful property tax management approach in this free whitepaper.