Equity Property Tax Group professionals look beyond the historical record to identify appeal opportunities. Our team applies cutting-edge appraisal theory to the appeal process. Aggressive and substantiated valuation management is important to capturing appeal savings.
The opportunity to appeal must be reviewed annually in conjunction with not only the property and local market statistics but also jurisdictional valuation policies, macro- and microeconomic factors, and real estate cycles. Most jurisdictions utilize statistical modeling to value property. Thinking outside the traditional modeling parameters of valuation to convey current and future forecasts are critical components to reaching taxable valuation conclusions and appeal decisions.
We identify property that should be appealed based on appropriate methodologies:
- Income analysis – Perform an income analysis valuation of an asset based on prior years and anticipated future years performance, utilizing modeling adapted from the appraisal industry. Market rents, occupancy expenses and capital costs may need to be researched and incorporated.
- Sales analysis – Research market sales for comparative purposes and extrapolation of imputed data.
- Cost analysis – For property types that do not generate income, or in jurisdictions that do not utilize an income approach in valuation information' addressing replacement cost may be used in conjunction with sales data.