In many municipal areas, market value assessments of homes have become generally more accurate within the past decade due to the implementation of automated valuation models. Few municipalities however have the experience, manpower, or expertise to accurately address complex non-residential properties. Property taxes are an item of fixed expense, with no day to day control available to the property owner. Under some lease structures, this will represent the majority of operating expenses and an overassessment of the property can have a major impact on cash flow.
Not all commercial or industrial properties are incorrectly assessed. It is not uncommon for us to recommend against an appeal based on our assessment of the likely risk:reward ratio. Providing an objective and supportable opinion is the reason we have had a success rate in excess of 95% over the past decade in appeals decided at either the local or state level.