Business Property Tax Mitigation and Reduction
The Benefits of Business Property Tax Mitigation and Reduction
The potential immediate benefit for small business owners of a property tax mitigation initiative is a property tax reduction in taxes owed and the potential of refunds on prior taxes paid. The future benefits would similarly be a reduced tax burden going forward, producing an increased cash flow for the business.
The Business Property Tax Reduction services of GMG are without charge unless there is a successful outcome in the reduction of the annual property tax assessment. Upon completion of a successful mitigation effort the fee is 50% of the first year savings.
Property Tax Reduction Through Mitigation
The single largest recurring charge for business commercial property and small business owners, outside of income taxes, are property taxes. Most states require business owners to pay taxes on both their real estate as well as their personal property. These charges are often a substantial expense and a constant drag on profitability. To ensure that you are not being overcharged on your property taxes, an industry specialist with extensive market experience in valuation, tax, and law should be retained. Click Here to Estimate Property Tax Reduction Savings
We are networked with an experienced team of professionals in mitigation, valuation, assessments, and law. Our partnered team members will work with you the business owner to identify any potential opportunity for refunds and/or property tax reductions in your current business property taxes. All of the work will be on your behalf until savings are captured, including partaking in hearings and filing necessary paperwork. Our team acts as an extension of your company toward the governing property tax bodies.
Who Qualifies for the Property Tax Reduction Program?
Any Commercial Property Owner who pays over $30,000 per year in Real or Personal Property Tax is worthy of a free review to determine potential property tax reduction opportunities. Industries that are more likely to have success are: Automobile Dealerships, Hotels, Retirement Homes, Manufacturing, Retail Plazas, Restaurants and Office Complexes.
The immediate benefit is the reduction of business property taxes owed and the potential of property tax refunds on prior taxes paid. The future benefits would similarly be a reduced tax burden going forward, producing an increased cash flow for the business.
A simple contingency engagement with our service partners will get the ball rolling. You will need to provide your most recent property tax assessment as well as an authorization for us to work on your behalf. Our team will then go to work for you! When a savings/refund is secured for you, fees will simply be a percentage of what you receive as a result of their work. There is no charge to you the owner if there is not a positive outcome.