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Real Property Taxes

Companies are often not aware of the total amount of real estate taxes they pay, nor are they aware of the substantial savings they may obtain by an annual review of the tax expense.

For multi-tenanted real property owners, ad valorem taxes represent the largest single expense: typically 25% to 50% of a performing property’s net operating income. The percentage is even greater for under-performing properties!

If my net operating income is significant, can I still secure an assessment reduction?

By state law, assessments are based upon “market income and expenses” and not actual rents.


Can my assessment exceed our real property’s fair market value?

Yes, if you have not conducted a proper annual review of the many factors that affect commercial real estate values. In addition, the more locations and properties a company has, the more chance of errors in calculation and missed exemptions.

  • Savitar analyzes each property in detail, including a documentation review of:
    Rent Rolls, Operating Statements, Capital Expenditures, Surveys,
    Operating Forecasts, Deferred Maintenance, and Engineering &
    Environmental Reports.
  • The rental and/or resale market is analyzed in detail, including market rents, market expenses, and recent comparable sales.
  • The results of our analysis are documented and summarized in a valuation statement that forms the basis for our assessment appeal.
 
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