Appeals to Reduce Assessed Value
Commercial Property Tax Revaluation Lawyer in Central Ohio
Nearly every owner of commercial real estate could claim a decline in property value in these economic conditions. In fact, record levels of property owners are inundating county auditors with the argument that their taxation should decrease accordingly.
The Craig P. Treneff Law Office has been highly successful in filing property tax complaints to reduce the assessed value. We have enabled clients to save hundreds of thousands, even millions of dollars, in commercial property taxes.
We file property tax complaints anywhere in Ohio. Our clients include real estate investment trusts (REITs), major corporations, owners of shopping centers, hotels, apartment buildings, office buildings, industrial property, warehouses and other single-use and mixed-use commercial properties. Arrange a consultation to explore your grounds for an appeal of a recent reassessment.
Establishing a Basis for Reassessment and Reduction
As an outgrowth of his divorce law practice, attorney Craig Treneff has decades of experience determining values of businesses and real property. In recent years, he has applied that knowledge to county-level appeals of property tax valuation.
Commercial property values are determined by the county auditor. That valuation is the basis for ad valorem county, school and municipal taxes, with commercial property taxed at the highest rate. Any reduction in valuation can translate to substantial tax savings. Mr. Treneff and his legal team work with professional appraisers to determine the most appropriate and beneficial revaluation approach (cost-based, income-based or sales-based) to provide alternative numbers for the county to consider.
Valuation is reassessed or updated every three years by the auditor's office. From January first to March first of each year, a property owner may file a complaint before the County Board of Revision. A complaint may be filed only once in every three-year period unless there was a sale of property or change in occupancy.
If the Board of Revision upholds the auditor's valuation or minimally adjusts value, we can take your case to the Ohio Board of Tax Appeals. Likewise, local school boards and taxing authorities can appeal your favorable reassessment to the Board of Tax Appeals, and we will defend your interests in that forum.
Call our Westerville law office at 866-829-0717 or contact us online to discuss property tax revaluation.
