Commercial Property Tax Appeal
No upfront costs and no fees until savings have been achieved
Local representation and expertise
We'll handle the process end-to-end
Industry-leading market intelligence
Property tax is the most significant variable operating expense for commercial real estate owners and occupants. As current economic challenges continue, it is more critical than ever to manage these costs and keep overheads to a minimum.
The Consulting & Advisory Division of M&Y International provides commercial property tax consulting services to annually review property taxes to determine whether or not a particular property is over-assessed relative to its fair market value. The review also includes assistance in responding to income and expense requests from the municipality. Property taxes are often the single largest operating expense for commercial properties. As such, property taxes should be reviewed annually and very carefully. M&Y International will provide you with the exact filing deadline for your particular property, and will also provide you with a no-obligation review of your property taxes to determine if an appeal is warranted.
M&Y International Financial Services Tax Relief System
A) M&Y performs a pre-analysis of the income and expenses being produced on the subject property(s).
B) M&Y capitalizes the net annual operating income being produced based on data sources and methodologies accepted by the Tax Court of New Jersey.
C) M&Y tests the evaluation level against the current equalized assessment of the property in order to determine the eligibility and probability of a reduction in assessed value.
D) Steps A-C are performed at no cost or obligation to the client.
E) Once M&Y has determined a high probability of assessment reduction is warranted supported by verified defensible documentation, M&Y will forward a contract for consulting services to the client or their appointed counsel.
F) The reduced assessment as approved by the client will be verified by a letter or formal settlement agreement from the municipality.
G) If an agreement is not reached with the municipality to pre-settle the assessment issue, the client has the option to proceed with a formal tax appeal filed by their counsel. At this point the relationship between M&Y and the client terminates unless your legal counsel chooses to engage M&Y in the process.
H) The real estate tax system in the state of New Jersey requires expert knowledge of the assessment process, urban economic principles, and the procedures governing the tax system. M&Y has employed seasoned experts in these fields and invested in the latest and comprehensive data systems in support of this process.
M&Y is not a law firm or an appraisal firm and cannot represent clients in Tax Court.
