Commercial property owners can improve their chances of cutting property taxes by hiring a company that has experience and knowledge in appealing assessments, says Ed Kearney, president of Tax Reduction Consultants of Florida. His firm provides expert help to businesses that want to trim real property and tangible property taxes.
“The tax appeal process, which can involve a hearing with a special magistrate, can be very difficult and frustrating if you don’t understand how to make the proper claims,” says Kearney, who represents Florida commercial property clients. “I have been challenging assessments for 22 years and know how to get results.”
Kearney analyzes the property tax notices of owners of hotels, apartments, commercial land, and retail, office and industrial properties. He crafts a well-prepared appeal with supporting documents and argues on behalf of his client before the county tax appraiser’s office. Through diligent efforts, he has saved millions of dollars for prominent companies in Florida such as The Breakers Hotel, Costco, and Konover South.
Tax representatives often produce results for their clients, according to a three-year analysis of tax challenges in Broward and Palm Beach counties by the South Florida Sun-Sentinel.
Tax Reduction Consultants of Florida has cut tax bills for clients across Florida. For example, a shopping center client saved $212,000 and an office building client $220,000.
Tax Reduction Consultants of Florida also produced these documented savings on commercial property tax bills for:
- Costco properties — an average or 26%, or $86,000
- ModComp — almost 52%, or $75,110.
- Proudfoot Consulting — 68%, or $29,000.
- Austin Nichols & Co. — 22 percent, or $19,000
“Getting a tax decrease takes much more than asking,” says Ed Kearney of Tax Reduction Consultants of Florida. “First, you have to make an educated, well-researched argument to a property appraiser. That real estate professional can be very tough to deal with.”
If you don’t win the reduction you wanted, you can appeal to a special magistrate, says Kearney. A commercial property owner can go before that property tax expert either alone or send experienced counsel.
“Using a tax rep or agent generally improves the chances of winning an appeal,” the Sun-Sentinel reports.
Tax Reduction Consultants of Florida has saved $361,000 for a hotel client and $54,700 for the owner of vacant land. The company charges a minimum fee of $500 and a percentage of the savings on the property tax bill.
To learn more about Tax Reduction Consultants of Florida and its services for commercial properties statewide, e-mail Ed Kearney at [email protected], visit http://svnpalmbeach.com/services.shtml, or call 561-616-6262. Ed Kearney is also a licensed real estate broker, CCIM, and owner of Kearney Commercial Realty/Sperry Van Ness.