Slash Your Business Tax Bill with a Commercial Property Tax Protest

As an entrepreneur, commercial property tax protest is probably your largest bill, but there is a means of lessening that amount protesting commercial property tax. If the assessment of the property is higher than what you expect, it can give you substantial amounts of money as savings.

Step 1: Check your Commercial Property's Appraisal Notice

First is to check carefully your annual notice of appraised value mailed to you by your very own local appraisal district. Your taxing authority determines your tax on your assessed property, so make sure your property gets appraised correctly. Double check for errors in the variances of property descriptions such as the square meters, condition, and nature of property. In case you find errors, you can protest.

Step 2: Obtain Evidence To Support Your Protest

As a way of adding strength to your case, obtain evidence in support of your protest that proves that your property was overvalued. This could be recent histories of recent sales of comparable properties, photos of destroyed property, or an independent appraisal. The stronger your evidence, the greater your chances of a successful protest.

Step 3: File Your Protest

In most states, you must protest your business property appraisal by a deadline, May 15 or 30 days after the date of your notice of appraisal. You can file it on the Internet, by mail, or in person. Once you have submitted your protest, you can request an informal meeting with an appraiser or a formal hearing before the Appraisal Review Board (ARB).

Step 4: Attend the Hearing

If your protest reaches a formal hearing, be prepared to present your evidence clearly and professionally. A successful protest can lead to a reduced assessed value, lowering your business’s property tax liability.

Filing a commercial property tax protest is a smart way to reduce your tax bill, keep more money for your business, and ensure you’re paying a fair amount for your property taxes.