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Real Property Tax Values

Practices

Seeking a reduction in real property valuation can result in significant property tax savings for property owners.

We start with an evaluation of the real property values that have been assessed by your local county auditor to determine if filing a complaint to reduce the current valuation would be cost effective. Depending upon the timing of the county auditor’s valuation cycle, successful property owners could receive up to 3 full years of real estate tax savings. Over the last few years we have saved our clients millions of dollars by challenging property valuation assessments.

We regularly advise clients on :

  • Filing complaints against the current assessed values as determined by your local county auditor (Board of Revision Complaint).
  • Making Tender Payments on your real estate tax bills based on a reduction in value sought in a Board of Revision Complaint, rather than based upon the value assessed by the county auditor.
  • Determining expected valuations and real estate taxes based upon new construction and timing of such valuations.
  • Assisting farm land owners in obtaining Current Agricultural Use Valuations (CAUV) and ensuring they retain CAUV status.

Real Property Tax Exemptions & Abatements

Additionally, certain real property may qualify for a real estate tax exemption or abatement, which can also result in significant tax savings. Our attorneys are skilled in recognizing these opportunities and can explain the benefits of tax abated property and the tax liabilities that will exist once the tax abatement expires. We also routinely file applications for obtaining real property tax exemptions for churches, educational facilities, and numerous types of charitable organizations.

Tax Increment Financing (TIF)/ Community Reinvestment Areas (CRA)

Our attorneys work with developers and local municipalities on deals involving TIFs and CRAs and can explain the benefits to property owners who have property located within TIFs and CRAs.

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