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.
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.
Publications
- Expected Assessed Value Changes In 2024
- 2024 Property Assessment Value Changes
- Whistler and Pemberton 2023 Assessed Values
- 2023 Assessment Update
- 2023 Property Assessment Value Changes
- Expected Assessed Value Changes In 2023
- Potential Property Tax Relief For Local Businesses
- Reasons For Landlords To Appeal Their Property Assessments
- Developers need to Appeal the Additional School Tax (AST)
- 2022 Property Assessment Value Changes
- Misconceptions within the Property Assessment Process
- Additional School Tax Exemption for Developers
- Minimizing Property Tax on Development Land
- Assessment Of Residential Sites Under Construction
- Should Homebuilders Be Paying Additional School Tax?
- Development Sites: Is The Additional School Tax Applicable?
- Vancouver Vacancy Tax
- Resolving Disputes - A New Approach
- BC Foreign Investors Tax
- NAIOP Industrial Panel
- Opportunities for Brokers
- How are School Taxes Calculated? | doc