In the industrial market, the changing landscape of e-commerce and distribution is driving demand for the creation of these new buildings. There is an opportunity however to look at each individual market and understand what opportunities for tax savings are available.
Industrial Assessments vs. Purchase Price
A large regional industrial client was having trouble with two things prior to us working with them; high values, and lack of communication with their previous firm. We needed to provide first-class service while also looking at ways to lower their tax liability.
After applying our expertise in this area and leveraging relationships with the local jurisdictions, the client realized an average assessment reduction per location of almost $940,000. We also provided them with quarterly accruals for use in tenant discussions. The client was extremely satisfied with the level of open dialogue and communication between our team and theirs and continues to work with us to date.