Property Tax Assessment Appeals

Updated December 2020

For many businesses, property tax is the largest state and local tax obligation, and a significant recurring operating expense that accounts for a substantial portion of local government tax revenue. Property taxes on business property accounted for the largest share of total state and local business tax revenue – 37.9%, or $316 billion in FY19, up nearly 5% over FY18.*

 

Reasons to Appeal Property Tax Assessment

Unlike other taxes, property tax assessments are ad valorem, meaning they are based on the estimated value of the property, and thus, could be confusing for taxpayers and subject to differing opinions by appraisers, making such assessments vulnerable to appeal. As a result of the fallout from the COVID-19 pandemic, some jurisdictions are reevaluating their property tax processes, for example, by applying disaster relief or conducting assessments at an earlier date. Assessed property values also tend to lag behind true market value in an economic recession.

 

How to Challenge Property Tax Assessment

Property tax appeals challenge assessed values and may reduce property tax liabilities. BDO has developed proprietary processes and procedures that may help companies generate tax savings and lower their effective property tax rate, regardless of industry.

Assessment and appeal dates vary state by state, and often county by county. If your annual property taxes are more than $75,000, complete the form on this page to contact us for appeal assistance.

*Total state and local business taxes: State-by-state estimates for FY19, October 2020