CRE Property Tax Appeal: Late Apeals

[vc_row][vc_column][vc_single_image image=”876″ img_size=”full” alignment=”center”][vc_raw_html]JTNDZGl2JTIwaWQlM0QlMjJidXp6c3Byb3V0LXBsYXllci05MjA4NjA2JTIyJTNFJTNDJTJGZGl2JTNFJTBBJTNDc2NyaXB0JTIwc3JjJTNEJTIyaHR0cHMlM0ElMkYlMkZ3d3cuYnV6enNwcm91dC5jb20lMkYxNzQwMjc5JTJGOTIwODYwNi1jcmUtcHJvcGVydHktdGF4LWFwcGVhbHMtbGF0ZS1hcHBlYWxzLmpzJTNGY29udGFpbmVyX2lkJTNEYnV6enNwcm91dC1wbGF5ZXItOTIwODYwNiUyNnBsYXllciUzRHNtYWxsJTIyJTIwdHlwZSUzRCUyMnRleHQlMkZqYXZhc2NyaXB0JTIyJTIwY2hhcnNldCUzRCUyMnV0Zi04JTIyJTNFJTNDJTJGc2NyaXB0JTNF[/vc_raw_html][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]As the 2021 CRE property tax appeal season is winding down in many jurisdictions throughout the country, many investors are, figuratively, often found scratching their heads. This is a period where, as an example, investors with newly acquired properties are unsure if they can file a late appeal. The simple answer in a situation like this is a very likely, yes you can.

First things first, it must be determined that an appeal was not filed during the regular appeal period. This goes without saying. However, often a seller will not file an appeal to avoid bids that could potentially reduce the value at close. The key is to make sure you follow up with your consultant if your firm is facing this scenario.

Each state has its own nuances which spell out appeal provisions. It is critical that you ask questions of your consultant in this period to not be blindsided down the road. As the season unwinds, this time period is ever more important in the exchange of information. This information between consultant and client will go a long way in preserving and improving cashflows.

Contact Info

To learn more about how property tax issues can affect your investing strategies, please reach out to Tim Feagans directly at tim.feagans@retcgroup.com.[/vc_column_text][/vc_column][/vc_row]