It is a cold, hard truth that budgeting for commercial property taxes can be difficult. The stakes are high. If you get it wrong, your annual property tax bill can often be a budget-breaker. To create a meaningful budget that truly helps you manage your cash flow, owners need to know and understand the realities of property tax.
• GAAP won’t work - GAAP requires amortized historical cost while property tax requires fair market value.
• Unpredictable - Process controlled by local taxing authorities and tax payers have the burden of proof.
• Local resources - State law is executed at the local level with available resources.
Before you need to grab a lifeboat, learn more in our infographic below.
Click on the infographic to view it in a separate window.
If you would like to learn more about the value that a property tax consultant can add to your budgeting process, please contact RPTA at firstname.lastname@example.org.