Commercial Property Tax Appeals Attorneys in Missouri
Businesses and owners of industrial, commercial, or residential buildings with over seven units often find themselves struggling with unfairly high property taxes due to over assessment by the county assessor. There are many negative implications of high property taxes on your business. These may include increased operating expense, reduced overall revenue, and more. Therefore, making effective property tax appeals and ensuring accurate valuation is essential for maintaining profits.
To learn more about appealing your commercial property taxes and if you are eligible to file an appeal, contact the lawyers at The Wallach Law Firm today. As experienced property tax and eminent domain lawyers, we can help you understand your rights.
What Is Over-Assessment & How Do You File Property Tax Appeals?
Over-assessment is when your commercial property has been overvalued by the assessor. In general, the property value should be the current amount that a real estate buyer would pay when purchasing your property. This value should be what the property would sell for on the open market in the event it is put up for sale. The tax rate is then decided based on this assessment value.
A survey done by The National Taxpayers Union found that the percentage of over assessed properties in U.S ranges between thirty and sixty percent. Yet the percentage of taxpayers who challenged such over-assessments is rounded up to less than five percent. The most common reasons that people fail to appeal over valuation include a lack of knowledge and understanding of property tax appeals and an apprehension about the property tax appeals process.
However, hiring a professional tax lawyer will allow you to fully understand the process and help you achieve the best outcomes when filing property tax appeals.
We at The Wallach Law Firm have a long list of satisfied clientele. Because of our history of handling property tax appeals successfully and with profitable outcomes, we commonly receive recommendations from previous clients as well as our peers. To learn more about how to evaluate your assessment and decide if you should move forward with property tax appeals, contact us today.
Understanding Your Rights When Making Property Tax Appeals
If you feel your commercial property is overvalued, you have the right to appeal your property tax in front of the County Board of Equalization. If you find the decision rendered by the board unacceptable, the State of Missouri provides taxpayers with the right to file property tax appeals to the Missouri State Tax Commission. The deadline for appealing to the commission is typically thirty days from when the board rendered its decision.
It is important to note that only those who file individual property tax appeals before the County Board of Equalization can appear before the State Tax Commission without an attorney. If you are conducting an appeal on a commercial property, the state requires you to present property tax appeals through a property tax appeal lawyer.
Learn More About Commercial Property Tax Appeals
- Unfair Real Estate Property Taxes: What You Can Do -
- Am I Eligible for Property Tax Reduction?
- What You Need to Know about Filing a Property Tax Appeal
- Reasons You Need a Property Tax Appeal Lawyer
- How to Appeal Property Tax
- Understanding the Process to Appeal Property Taxes
Contact Us Today for Help with Property Tax Appeals in Missouri
If you would like to learn more about the procedure, deadlines, and criteria surrounding property tax appeals in Missouri, contact the attorneys at The Wallach Law Firm today. We look forward to assisting you.
