The KE Andrews Commercial Real Estate Property Tax Division provides full-service ad valorem tax services to commercial properties of all types. From banking to health care, retail and manufacturing, our team is your one-stop shop. In most states, every year your property values that are subject to tax are in danger of increasing. It is important that your property holdings are reviewed individually every year to minimize your tax burden. Our seasoned commercial real estate property tax professionals engage in a property protest in an aggressive but fair approach to value, and our systems are designed to provide a maximum tax savings situation, along with providing administrative advantages for our clients that are second to none. We also handle Tangible Personal Property renditions on behalf of our commercial real estate clients along with audit representation, as many states actively audit these TPP filings. Put our team of experts, tools, and already established systems to work for you!
Tangible personal property tax can be a nuisance to property owners, especially in multi-state situations. Every state is different in this realm, involving different filing deadlines, assessment dates, protest deadlines, tax bill due dates, and most importantly differing tax exemptions. At KE Andrews, we’ve created systems to streamline this confusing, and sometimes complicated filing, ensuring every exemption available is taken and every deadline is met. We will file renditions on your behalf timely, and will work with local assessors to ensure that you are being taxed properly. We’ll make sure you are taking advantage of the maximum depreciation available along with all applicable tax exemptions. We will also back up our work, representing you in audit situations that arise in audit states. Allow us to take this headache away, becoming your property tax department down the hall.
When engaging in commercial real estate property tax valuation, there are three generally accepted approaches to value that are used in discussions between the assessor and the agent. These include the cost approach, the income approach, and the market approach. Simply put: what does it cost to rebuild the building, what are the economics of the building, and what is the building worth if placed on a free market for sale as of the assessment date (arm’s length transaction)? Real estate appraisal is an art, not a science. There are many technical factors to be considered when performing an appraisal, including determining which methods are most appropriate for a given situation. Our commercial real estate property tax experts have decades of experience appraising simple and complex properties and are ready to serve you.
In most states, after a TPP rendition is filed the assessor issues a ‘notice of value’ (NOV) to the taxpayer. For real estate, there typically is no rendition required, and an NOV is simply issued by a certain date. In cases where a rendition was filed, KE Andrews will review every single NOV to ensure accuracy, and will contact counties for corrections in cases where there are errors. In cases where a state simply issues an annual NOV for commercial real estate, every single NOV is reviewed along with an aggressive and comprehensive analysis of each property, and our appraisers carefully determine cases where a negotiation or appeal is warranted.
After NOV’s are issued, Our commercial real estate property tax consultants analyze your real estate and tangible personal property assets aggressively to ensure a fair market value for assessment. Many times, disagreements in value arise between the taxpayer/agent and local assessor. We make every effort to negotiate with local assessors on your behalf on the front end before having to file an appeal. More times than not, we come to a fair agreement before having to engage in the formal appeals process. This is a result of the relationships we’ve established with local assessors all over the country that span decades.
When an agreement is not reached in the informal negotiation period with the assessor, and certain NOV’s have been determined to be unfair, we will file a formal appeal with the county and prepare to present a case before the local board of assessments. We make it a point to go to board hearings every year, firstly because many times we are able to again negotiate and come to an agreement immediately prior to the hearing, and secondly we feel it is important to meet the assessors in person to establish and maintain a healthy working relationship. While we remain fair to the county, we work to lower your commercial real estate property tax burden. KEA maintains a highly successful track record when presenting cases at board hearings.
After board hearings are complete, values become finalized. At this point, KE Andrews is able to compile tax accruals for our clients based on the final values issued by the county. Accrual reports are issued at minimum once per year after values are finalized, but they can be updated at different points throughout year at the client’s request.
After values are finalized, tax bills are issued by the county treasurer or tax collector, along with other taxing jurisdictions. Tax due dates vary by state. KE Andrews is here to review every single tax bill for accuracy, and will process them to the client for timely payment. We have adopted several methods to execute the tax payment process. Ask us about our “KEA Administrative Advantages.”
KE Andrews has over the years has retained one of the most knowledgeable SUT teams in the country. While we work a large portfolio of commercial real estate property tax, we have a significant Sales and Use Tax presence. Many commercial businesses chronically overpay sales & use taxes, and we are here to help. Manufacturing is especially is an area where a large number of obscure exemptions apply. We don’t subscribe to low hanging fruit methods here at KEA. Rather we do a deep dive into all of your records to create a maximum tax recovery situation. If you are worried you have overpaid these taxes and would like to recover lost tax dollars, contact us for a review today!
The KE Andrews Real Estate division retains seasoned leaders averaging 30+ years of experience in the field. Our team is comprised of ASA’s, former Chief Appraisers, licensed property tax appraisers, accountants, economists, CPA’s, industry experts and more. Come and discover how our team is able to return maximum revenue to where it belongs, your bottom line.
We represent a variety of different types of office properties, including multi-tenant, single-tenant (triple net leases), owner-occupied, REIT’s, and high rise buildings. We possess a large portfolio and the depth of experience necessary to be the best partner of choice. We look forward to helping you.
With a large volume of fast food chains and sit down restaurants in our portfolio, we’ve become experts in working values and understanding the nuances of the restaurant industry. Whether it’s a stand alone property or leased in a strip mall, we can be trusted as the agent of choice in all types of property tax representation.
The multi-family industry is up right now, with properties being purchased on 1-2 years future value. We’re seeing those values applied to appraisals as we speak. There is significant room for value reductions in the sector. From town-homes, apartments, to low income housing, we are the experts.
We work with a significant number of retailers and retail developers here at KE Andrews. We are ready to help with your multi-state tangible personal property renditions, as well as real estate representation for new and existing retail developments. We have a significant presence across the U.S.
Our experience in manufacturing and process-based assets is unmatched. Not only do we represent buildings in the industrial and manufacturing sectors, but we are highly experienced in Sales & Use tax reviews. We’ve secured millions of dollars in refunds for our clients nationwide.
Convenience stores are unique, an industry on their own, and we have had over 30 years experience with them. We represent roughly 5,000 convenience stores nationwide and have had tremendous experience in the valuation of these properties. Let us help you with your portfolio, whether it’s a single state or multi-state holding.