Here at PTG we have found that working proactively with Jurisdictions on your Real Estate Tax Assessments can help with "Keeping the Lights On". In addition to traditional appeals, Paradigm Tax Group has employed a proactive negotiation strategy in certain markets (California, Florida, Maryland, Virginia, and Washington, DC) which has been very successful in getting our clients "upfront" tax savings on their real estate taxes.
A recent survey shows that despite the old adage that hotel lenders always take appraisals lightly, it is still the biggest factor when determining market pricing for hotel properties, despite the fact that many appraisers do not have specific knowledge of the lodging industry. According to National Real Estate Investor, the email survey had the majority of respondents (36.6%) indicate that appraised value is the way they determine pricing for a hotel they want to sell.
The state of Georgia has passed the "Property Tax Assessment and Appeals Reform Bill" yesterday which will change property tax assessment procedures in the state. Highlights of the bill include: