Reasons For Landlords To Appeal Their Property Assessments


Why should landlords and property managers care about property tax?
  • Obtaining reductions can reduce total operating costs;
  • The building will be more competitive when leasing space;
  • Tenants are concerned about gross rents, so lower Op costs bring higher net rents.
  • Higher net rents increase property value.
  • A review shows the tenants that the landlord cares.
  • A letter on hand is useful to show that you have investigated the assessed values
  • It improves tenant relations if you can return a cheque at year end for a tax refund;
  • The landlord as property manager has a Fiduciary Duty to keep costs low.
It is noted that many sale prices are higher than assessed values for commercial property so lower assessed values do not appear to affect the purchase prices obtained.

If you have any questions please contact Peter Austin at paustin@telus.net

Peter Austin has been involved in the assessment industry for some 35 and was a partner at Burgess Austin Appraisers for 25 years. More information is available at www.austinrealestateconsultants.ca.

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