Property Assessment & Advisory Services
The property tax process is a dynamic one in which new legislation, jurisprudence and assessment procedures are constantly being developed, updated and altered. AEC provides property tax advisory services and undertakes to establish, quantify, and negotiate where feasible a reduction of the assessed value and / or taxes. AEC investigates individual properties requiring attention to ensure that the correct charges are being levied on the property.
There are five basic measures that property taxpayers can undertake in order to minimize and / or recover property taxes:
- Assessment audits and appeals
- Local incentive programs (e.g. Vacancy rebates)
- Pre-negotiation of supplementary assessments
- Tax bill audits
- Process review and audit of personal property taxes
We bring extensive knowledge and experience in assessing all types of property, with experience dealing with a number of diverse property types including:
- Industrial
- Commercial
- Multi-Residential
- Special Purpose
Maximizing Potential Tax Recoveries
Setting the appropriate assessment value is only part of the property tax analysis. Other aspects of this process that benefit from the professional attention provided by AEC include the interpretation of new legislation, and timely compliance with regulations.
There are costs associated with assessment appeals and tax disputes. Maximizing benefits of tax recoveries involves establishing a strategy to deal with property assessments. It also looks to the most effective way of resolving assessment disputes.
- At AEC we help clients review and plan how to best deal with property assessments and taxes.
- AEC is expert at negotiating assessment disputes.
- Our well-respected professionalism enhances negotiation positions saving clients time and expense.
Single Property Review
Part of the analysis of assessment values is a review or audit of the work completed by the assessor. Any errors in the process or any omissions made by the assessors in the valuation of the property are brought to light in our review. This review process often leads to settlements of assessment appeals.
Budgeting and Tax Planning
Assessment and tax regulations change, as do properties with the addition of improvements or their inevitable depreciation. Any and all of these elements produce changes in taxation, which can be difficult to forecast. What is not generally known however is that it is sometimes possible to establish assessments and taxes in advance through negotiation with the assessor. AEC can help with this process by forecasting future tax levels and pre-negotiating levels of assessment and taxation for new construction.
Tax Audit and Appeal
Some jurisdictions have complicated tax legislation that makes it difficult to translate assessment values into amount of taxes owed. Tax calculations can be a challenging task involving appropriate classification and the determination of tax levels for similar properties. Our team of experts has kept abreast of developments in this area and can complete the necessary steps to ensure tax calculations are correct.
Litigation
Due to the nature of the appeal process some assessment appeals inevitably proceed to the litigation stage. AEC staff has experience acting as expert witnesses in litigation situations, with an excellent track record having participated in many successful assessment appeals. AEC can assist with the development of the appropriate appeal and litigation strategy.
Resolving Tax Disputes
The allocation of taxes amongst tenants is another area where tax disputes arise between landlords and tenants. Our understanding of leases and relevant legislative framework along with our ability to accurately develop assessment values and calculate the appropriate levels of taxation leads to resolutions of these disputes for both landlords and tenants.
PROPERTY ASSESSMENT & ADVISORY SERVICES BENEFITS:
- Investigations into properties that require extra attention can discover discrepancies in current taxes paid.
- Interpreting legislation and accurately calculating property taxes can maximize tax benefits.
- Appealing incorrectly assessed properties can lower clients’ tax burden.