Property Tax Reductions

[Evan Manship]

I have spoken with many investors about how they handle their property taxes and the overwhelming majority seem to appeal their annual assessment only when the value jumps a certain percentage (say 5-10%). There are also some who appeal each year with the thinking that they can justify some sort of market momentum slowing.

However, many investors are unaware that the system that generates their assessment is a convoluted mass appraisal which is constantly making errors in calculations which cost investors hundreds each year.

How do you investors particularly with large portfolios of properties make sure that you are being taxed equitably?

[Nate Garrett]

@Tyler Flagg

I protest most of my portfolio every year as well. At least in Tulsa county, the assessor has no way of knowing that your property is a rental when he makes his assessment. Because rental properties are typically not in the same condition as the retail properties they are being compared to, I have been quite successful in getting them to lower the assessed value.

You may find my blog post regarding how to protest property tax assessments useful.