Jun
28

Property Tax Reduction Makes Property Manager Look Good

By

EN-AB408_ADVICE_GR_20151014153310I recently finalized a property tax appeal on behalf of a commercial property owner. The result was a $23,000 reduction in the property tax bill. Since this was a property that is leased on a full service basis, the reduction directly increased the net operating income. Using a simple 9% cap rate would indicate that the market value increased by about $255,000 as a result of the successful appeal. Who referred the opportunity to me? The property manager did, and it only took about ten minutes of her time. Obviously the property owner was very pleased, and I am pretty sure that the property manager strengthened her relationship with the owner.

Please let me know if you would like for me to review the property tax situation on a South Carolina commercial property. I have worked with owners of properties in all regions of the state.

Michael Dodds, MAI, CCIM    mdodds@irr.com  803-960-8783

 

Categories : South Carolina News

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