Commercial Real Estate Property Tax
Our goal is to minimize your commercial real estate property tax burden by researching and understanding local markets, mastering the intricacies of local taxing authorities and skillfully navigating the appeal process.
Commercial Real Estate Property Tax
At Baker Tilly, we aim to minimize your commercial real estate property tax burden. Our specialists delve deep into local markets, mastering the processes and procedures of local taxing authorities and skillfully navigating the appeal process. Each property we represent is meticulously reviewed for cost, income and market value positions annually, ensuring that the lowest possible value positions are achieved.
Specializing in commercial real estate portfolios with national footprints, our seasoned property tax consultants have honed an advanced understanding of the intricate nuances required to maximize tax benefits for every single parcel, even across numerous counties. Our approach is personal, hands-on and effective, consistently helping our clients achieve millions of dollars in value assessments and refunds year after year. Baker Tilly’s credentialed real estate property tax consultants conduct annual real estate portfolio reviews to uncover tax-saving opportunities related to valuations, exemptions and abatements.
A bespoke approach to commercial real estate property tax appeals
Leveraging superior market data and a keen understanding of the unique nature of each asset, our real property tax specialists explore every property from multiple angles to develop a comprehensive valuation approach. This independent property assessment creates a defensible valuation with documented support, enabling us to effectively represent you during the appeal process. By engaging our commercial real estate property tax consulting services, our clients are provided with the potential for substantial reductions, accurate values and the peace of mind that comes with knowing their assets are proactively assessed each tax year.
Pre-acquisition property tax estimates
Before acquiring property, it's crucial for real estate investors to consult a property tax specialist. This helps in understanding local market nuances and projected tax liabilities. Having a property tax consultant involved ensures accurate property performance estimates and expected values before purchase. These estimates assist finance departments in due diligence by providing key projections and risk assessments, which are vital during the property acquisition process.
At Baker Tilly, our specialists provide comprehensive pre-acquisition property tax estimates that are essential for underwriting, tax budgeting and pro forma analysis. These estimates offer thorough three- to five-year real estate tax projections, including property tax discussions, value analysis approaches and corresponding tax rates, empowering you to make informed investment decisions.
- Property details
- Offering memo
- Trailing 12-month financials
- Rent roll
- Planned improvements
- Review county documentation
- Review internal properties worked in similar submarkets
- Review multiple data sources to derive market rental rates, occupancy, expenses and capitalization (cap) rates
- Build income model
- Review data sources to determine valuation trends
- Construct equal and uniform template (if applicable)
- Review workup and compare valuation to similar properties in the same market area
- Follow up phone call to discuss first pass of estimate
- Gather any additional questions or insights from the client
- Ensure client is satisfied with approach and methodology
- Produce final estimate
- Conduct follow up phone calls as necessary
Multistate commercial real estate portfolio owners face unique challenges and must navigate diverse tax laws across the nation. The complexities of owning commercial real estate in multiple regions make it essential to partner with property tax consultants in this field.
At Baker Tilly, our team has decades of experience working with some of the nation’s largest portfolio Real Estate Investment Trusts (REITs) and institutional investors. We work to secure fair property valuation and taxation, provide accurate and thorough pre-acquisition tax estimates and offer comprehensive state and local tax services in all 50 states. Our deep understanding of local market nuances and holistic approach to taxation make us the ideal partner for nationwide commercial real estate portfolios across all asset classes.
Connect with our nationwide commercial property tax specialists today to consult with our team. Our dedicated professionals will review your portfolio to identify additional opportunities and provide impactful insight before your next acquisition.
At Baker Tilly, our client relationship experience begins with a dedicated transition team that bridges the handoff to operations within the first 30 days of engagement. This team collaborates closely with our clients and their internal stakeholders to establish a comprehensive service plan and execute all data and software platform integrations.
Once the onboarding process is complete, Baker Tilly’s transition team works collaboratively with our clients, their relationship manager and other internal stakeholders to ensure a comprehensive service plan is established and all data and platform integrations are executed from the outset of the engagement. This approach maximizes efficiency and minimizes downtime, ensuring a smooth transition from onboarding to results.
Baker Tilly understands that property valuation and taxation can present unique challenges for commercial real estate owners and investors with a high volume of properties across multiple states and asset classes. Varying tax laws, nuances and county-specific deadlines can lead to missed appeals, under-advocated properties and, ultimately, overpaid property taxes.
When managing multiple asset classes such as multifamily, industrial, office, retail and hospitality, our clients face the challenge of reporting inconsistencies. Although seemingly minor, these inconsistencies can result in uninformed portfolio decisions and potentially threaten the bottom line. Baker Tilly has developed a customized reporting system for each of our national portfolio clients, providing consistent data that is crucial for decision-making regarding acquisitions, budgeting and property tax strategies.
This unique, tailored approach offers some of the nation’s largest commercial real estate owners a distinctive level of care and attention that is unmatched. Contact our property tax specialists today to consult with our team and discover how our customized reporting system can benefit your portfolio.
Asset classes we serve
At Baker Tilly, we proudly offer state and local tax services for a wide range of commercial real estate asset classes across all 50 states. Our experienced property tax consultants are dedicated to achieving the results you deserve.
Retail
Baker Tilly offers extensive real estate and personal property tax representation for retail properties across all 50 states. This includes malls, shopping centers, big box stores, restaurants, gas stations, bank branches and standalone retail buildings.
Office
Office properties present unique valuation challenges. Whether traditional, medical or flex spaces, Baker Tilly ensures no stone is left unturned in reviewing property tax benefits potential for all office asset types.
Multifamily
Multifamily properties are one of the most sought-after investment types in the nation. With significant value increases being realized, Baker Tilly’s aggressive valuation approach is crucial for investors looking to maximize their returns on apartments and niche multifamily properties.
Hospitality
Hospitality assets offer unique opportunities for tax benefits in real estate, personal property and sales and use tax. Baker Tilly’s nationwide experience with large hotel portfolio owners ensures maximum tax benefits through specialized techniques.
Industrial
Baker Tilly advises owners of various industrial real estate types, from warehouses to distribution centers, with nationwide expertise. Our industrial valuation techniques aim to maximize property tax benefits in one of the market's hottest asset classes.
Self-storage
Self-storage is one of the fastest-growing commercial real estate sectors. Baker Tilly’s unique valuation approach for these assets provides clients with additional property tax relief in this niche sector.
Data centers
Valuing data center assets is complex and time-consuming. Baker Tilly’s experience in data center property tax ensures all locational, construction, service and income requirements are considered when determining valuation positions.
Hospitals
Hospitals offer unique tax benefit opportunities across real estate, personal property and sales and use tax. For-profit hospitals should be reviewed holistically by an experienced firm like Baker Tilly to ensure maximum potential.
Senior living
Senior living properties have nuanced valuation factors that differ from typical apartments. Baker Tilly reclassifies these factors in our final property tax appeals to ensure accurate valuations and tax benefits.
Student housing
Baker Tilly understands the varying factors involved in the investment cycle of student housing facilities. An aggressive and calculated approach is necessary to fight for lower values on these assets, especially as the market remains hot from an acquisitions perspective.
Our professionals
