Any time there is a significant or meaningful change to the market value of a commercial property due to leasing or sale of a property, the real estate tax assessment for that asset is expected to change.
It is all too common for industry participants to miss the mark when it comes to accurately estimating future real estate tax liabilities resulting from these types of market activities.
Brokers representing tenants and buyers would benefit from a better understanding of how these changes impact their clients’ bottom line given the cost savings that this knowledge brings. These are a few key insights from a recent podcast with Ross Litkenhous, a Principal with SC&H Group, who recently discussed the topic of how leasing and sales impact commercial real estate assessments.
Listen to the podcast below.
To learn more about SC&H Group’s Real Property Tax services, click here.