There is a simple formula that is used to determine how much you owe in property taxes, however if your property is valued incorrectly, you could be overpaying. Tim Rye and Adam Pabarcus from our property tax appeals team recently sat down with Bill Griffith to discuss the property tax appeals process and to highlight the benefit of a quick periodic review to determine if your tax assessment is fair.
In this episode of The Larkin Hoffman Real Estate Podcast, Tim also shares insights regarding his team’s recent victory in the Minnesota Supreme Court and its decision to require tax assessors to exclude the airport’s concession fees from rent-based valuations for property tax purposes. The case offers a flight plan to lower taxes at many of the nation’s transportation hubs and underscores the importance for all taxpayers to exclude business value from taxable property value. In this episode, Tim details the magnitude of the Minnesota Supreme Court’s decision regarding concession fees and how it could influence the results of future property tax appeals.
The deadline to file a petition for the upcoming tax season is quickly approaching and taking charge of your tax rate can be as easy as a quick complementary annual checkup. Contact our property tax appeals team to schedule your review.
Bill Griffith advises local and national clients on legal and policy issues affecting land use, zoning, real estate, environmental review, municipal law, regulatory matters and government relations. He has been local counsel to Mall of America in all its phases and serves as city attorney for the city of Columbus. He is a trusted advisor on real estate development and public funding for both private clients and municipalities. Contact Bill Griffith at wgriffith@larkinhoffman.com.
Tim Rye is a litigator who advises clients on real estate valuation and property tax appeals. He advises on all aspects of the property tax appeal process, including reviewing properties for potential success on appeal, filing appeals and all statutory disclosures, researching market data, preparing analyses for negotiations, negotiating resolutions, and litigating appeals if necessary. Tim represents a broad range of clients, including real estate investors, owners, developers, property and asset managers, corporations, and individuals with real estate holdings. Contact Tim Rye at trye@larkinhoffman.com.
Adam Pabarcus is a litigator and trial attorney who focuses his practice on complex real estate litigation and property tax appeals. Adam represents clients in state and federal courts across the country to resolve disputes and advance their business goals on a broad range of issues. Contact Adam Pabarcus at apabarcus@larkinhoffman.com.
Our real estate and construction law team covers every facet of real estate and its development phases. With the aim of offering distinctive perspectives on emerging topics, trends, and matters within our industry, we launched The Larkin Hoffman Real Estate Podcast to complement The Larkin Hoffman Real Estate and Construction blog. We stay on top of developing issues and legislation and collaborate with industry leaders to ensure our readers and listeners stay abreast of pivotal issues.