Property Tax Representation
At Smith, Gendler, Shiell, Sheff Ford & Maher, P.A., we understand the dynamic market forces that influence property value. In unsettled economic times, property values over different asset classes can drop quickly and dramatically. We are dedicated to working on behalf of our commercial real estate clients in order to obtain the most accurate property tax valuation for each property for each assessment year.
Minnesota has an experienced and sophisticated assessment community. This is because Minnesota has high effective tax rates and annual assessments.
Owners of commercial and industrial properties are experts in managing and maximizing the value of their holdings. Most owners and their managers are not, however, expert in understanding or navigating Minnesota's complex property tax system. Property values in Minnesota are set by a variety of local assessors, without providing a clear accounting of the basis for the annual valuation. It's hard for most owners and managers to know how to effectively challenge assessments in these circumstances.
Because the property tax expense in Minnesota is a significant one for users and tenants, ensuring an accurate assessed valuation is critical to a property's ability to compete. Where the valuation is too high, the excessive property taxes negatively affect short-term yields, long-term returns, and the ability to successfully compete with other properties for tenants. Having an annual review of a property's tax assessment is the best way to ensure that your property is competitive with others.
In Minnesota, property assessments can be increased by the court. It's important that cases be screened carefully before litigation ensues. We use real-time data and information from online appraisal databases to analyze property values. Our experience and understanding of assessment practices and market value helps ensure that our clients' properties are not exposed to the risk of a valuation increase.
We settle almost all cases without the need for trial. This means that costly and time-consuming litigation is avoided. By reaching a property tax valuation agreement that is satisfactory to our clients and also the assessors, we can work diligently and effectively for our clients without the need for expensive, antagonistic court proceedings.
Smith Gendler is one of the founding members of the American Property Tax Counsel ("APTC"). APTC is the national affiliation of leading independent property tax law firms. APTC members are professionals who are committed to providing excellent legal representation to their clients in property taxation valuation concerns. To obtain the best local representation for our clients who have a multi-state presence, we work closely with the best property tax lawyers in each jurisdiction.
Because property taxes are a local issue, your representative during a property tax valuation must be well-versed in the nuances of the state's property taxation system. This requires not only a depth of knowledge of substantive law, but also of the procedural aspects of the tax appeals in each jurisdiction. The importance of having sophisticated, local representation can result in the difference between a considerable tax reduction and no reduction at all. As a member of APTC, Smith Gendler offers clients throughout the country the opportunity to have experienced, effective local representation for their property tax issues outside of Minnesota.
Our goal is to obtain a fair and equitable property value for each client. We will create a complete, succinct and thorough explanation of the valuation of your property and meet with the assessor to negotiate an accurate tax assessment. We handle your case professionally and work diligently on your behalf, ready to litigate if negotiations prove ineffective.