In today’s competitive retail environment, it pays for merchants to review their real and personal property taxes to ensure they are equitable. In 2014, our property tax practice helped the owner of several regional malls achieve a multi-million dollar reduction in their property tax liability through an assessment appeal.
Our clients, including several national anchor department store chains and a national drug store chain, rely on us to work through complicated valuation issues that impact the property tax assessments of their properties to correctly access the market value for their property taxes. Our attorneys gather and effectively present the relevant data to help retailers consistently obtain more equitable assessments.
We also assist retailers faced with excessive assessments of their personal property taxes since these taxes are calculated by applying “one size fits all” depreciation schedules to purchases related to the retailer’s business. In 2014, we assisted one national discount retailer in obtaining a number of reduced personal property assessments and more advantageous depreciation schedules.