There are two worlds of property value that collide, assessment and reality. Assessors use a cost approach to value and mass appraisal technique. We analyze value based in fact, supported by market data and income potential. When we compare it to the assessed value, and there's a value gap, we navigate the tax appeal system to close the gap (achieve a reduction of value) and lower property taxes.
Property taxes are an expected cost, but they need to be managed by professionals.
For existing buildings / improvements, we appeal property values by navigating the Michigan property tax appeal system. Our objective is to achieve fair market value and reduce the annual property tax burden for our clients. The process includes a review of the current assessment, followed by an analysis of market data & potential income data to compare against the assessment. If we determine the current assessment is too high, we initiate discussions with the assessor and appeal values at the local and state level. This process is seamless for our clients, and we work for free until we achieve a tax savings.
Assessments for new property value are applied the year following construction / improvements. We can impact value during project completion and stabilization of the new construction. Working with an assessor to determine fair market value based on market data and potential income data of a property, offers a significant opportunity to avoid inflated property taxes. Helping set appropriate assessments during construction and stabilization can help you avoid future value appeals.