4 Ways to Reduce Property Taxes For Your Facility

Written on October 16, 2017 at 12:43 PM

By Seth Krchmar, Managing Consultant | MFRTECH

Keeping costs at a minimum is often a top priority for owner/operators of manufacturing facilities; however, they often overlook one key area that can positively impact their bottom line. In fact, property taxes are often one of the biggest line item expenses manufacturing facilities face and can represent 30 to 50 percent of operating costs. The good news is that owners don’t have to take them at face value. 

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Categories: Heavy Industrial, Personal Property, Automobile Manufacturing, Real Property, Industrial & Manufacturing, Paradigm Info

San Francisco Cracks Down on Landlords Leasing Industrial Space to Office Tenants

Written on March 15, 2016 at 04:49 PM

The San Francisco Planning Department is increasing its efforts to crack down on landlords who lease industrial buildings zoned for manufacturing, automotive repair, warehousing or the arts to office tenants, launching 21 investigations already this year.  According to the San Francisco Business Times, the heavier enforcement is all part of effort to make sure areas zoned for production, design and repair (PDR) are kept open and ready for tenants that qualify as "makers" – a group that's been steadily pushed out of the core of San Francisco as rents rise and pricier tech tenants replace them. In 2015, the Planning Department opened 108 cases investigating industrial space leased out for offices, a major leap from four in 2014 and two in 2013, the San Francisco Chronicle reports. The city says that increase reflects how difficult it has become for manufacturers to find space in the nation's most expensive office rental market.

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Categories: Heavy Industrial, Office, Industrial, Industrial & Manufacturing, California

Boston’s Industrial Market Hot Streak Continues

Written on February 23, 2016 at 05:26 PM

Greater Boston has a record-low vacancy for industrial warehouse space of 11 percent in the fourth quarter, while manufacturing space in the region is also reaching below a double-digit vacancy rate for the first time on record, according to a fourth-quarter industrial report from brokerage Transwestern. Manufacturing vacancy dipped to 9.9 percent in the quarter, while asking rents rose 5.6 percent to $8.09 per square foot — breaking the $8 mark for the first time since mid-2008, the report said.

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Categories: Heavy Industrial, Industrial, Real Property, Industrial & Manufacturing, Massachusetts, Warehouse

Texas Business Leaders: Senate Tax-Cut Plan 'Falls Short'

Written on March 09, 2015 at 09:17 AM

Top Texas business leaders, representing the industrial sector and 46 percent of business taxpayers, sent a letter to Lt. Gov. Dan Patrick and state senators last week, complaining that the Senate tax-reduction package "falls short" when it comes to incentives to continue growing the state's economy. The letter address the growing split over the proposed tax-cutting plans being considered by the Legislature. Both the Senate and House are looking at cuts to school property and business franchise taxes, but the Senate's recently released details of the plan have provoked concern among lobby groups and lawmakers, as Senate leaders pledged to push ahead to provide significant tax relief for both homeowners and businesses.

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Categories: Heavy Industrial, Industrial, Real Property, Industrial & Manufacturing, Texas, Oil - Gas - Energy - Utilities

2014 Kansas Legislative Changes Benefit Taxpayers

Written on October 30, 2014 at 06:55 AM

By Jeff Pence, Senior Managing Consultant, Kansas City
& JP Rand, Senior Managing Consultant / Principal, Kansas City

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Categories: Heavy Industrial, Personal Property, Real Property, Industrial & Manufacturing, Paradigm Info, Kansas

What is Fixed Asset Tagging and How Can it Reduce Your Property Taxes?

Written on October 07, 2014 at 07:27 AM

By Mark Yost, Senior Managing Consultant, Detroit

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Categories: Heavy Industrial, Personal Property, Automobile Manufacturing, Fixed Asset Tagging, Real Property, Industrial & Manufacturing, Paradigm Info, Health Care

Nevada Will Give Telsa Gigafactory $1.25 Billion Tax Deal

Written on September 08, 2014 at 10:17 AM

After a 5-state battle for Telsa Motors' $5 billion battery gigafactory, Nevada came out as the victor. While the five million square foot complex is expected to generate 6,500 high-paying jobs, which officials say will change the face of Northern Nevada commerce, it didn't come without a steep cost. Telsa will receive a $1.25 billion tax incentive package that will span over 20 years, a figure that is more than double the $500 million package CEO Elon Musk said would be required to draw the company.

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Categories: Heavy Industrial, Personal Property, Nevada, Industrial, Construction, Real Property, Industrial & Manufacturing, Economy

Mississippi Governing Authorities Continue to Grant Tax Exemptions, Incentives for Industrial Properties

Written on February 07, 2014 at 06:40 AM

By Seth R Krchmar, Consultant, Atlanta

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Categories: Heavy Industrial, Distribution Centers, Personal Property, Industrial, Telecommunications, Industrial & Manufacturing, Paradigm Info, Mississippi, Data Centers, Warehouse

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