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
Tim Rye
Property Tax Appeals, Real Estate Litigation
Airport Concession Fees Are Not Rent in Property Taxation
In a groundbreaking ruling, the Minnesota Supreme Court affirmed a tax court decision requiring 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…
New Podcast Series: Land Use and Real Estate Issues Affected by the COVID-19 Crisis
Welcome to Larkin Hoffman’s new series of podcasts discussing issues affected by the COVID-19 crisis. Our senior attorneys will address corporate, employment, real estate, construction, franchise, bankruptcy, insurance, litigation, and other matters in this series. The podcasts are 15 minutes long and can be heard at your convenience. Over the next few weeks, there will…
Minnesota Property Tax Update
Businesses and real estate of all types are being disrupted and upended by the COVID-19 pandemic. As this pandemic changes the landscape on a daily basis, we will keep you informed of important property tax issues along the way. Currently, there are three upcoming property tax issues in focus:
- First Half Property Tax Payment: Due
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When to Consider a Property Tax Appeal
Developers, real estate investors and business owners are appropriately focused on creating profit and high rates of return. Managing property taxes may not be a terribly high priority. However, property taxes are usually the most significant real estate expense incurred by real estate users and have a direct impact on profitability and rates of return.…
How Does the Sale of a Property Affect Its Assessed Value?
We frequently get asked about how an assessment will change after an acquisition at a price higher than the assessed value. The answer of course is, it depends.
Assessors use sales ratio studies for the review and equalization of values. A sales ratio shows the relationship between the assessors Estimated Market Value (EMV) and the…
Meet Minnesota Tax Court’s Newest Judge: Tamar N. Gronvall
Governor Dayton appointed Tamar N. Gronvall to the Minnesota Tax Court for a six-year term, which began in January 2017 and will expire on January 2, 2023.
Before her appointment to the Tax Court, Ms. Gronvall was General Counsel in the Office of Legal Services at the Minnesota Department of Commerce, where she led a…
What happens with property taxes during a new development project?
Nick Halter and The Minneapolis/St. Paul Business Journal have launched a new tool called Crane Watch (Business Journal Crane Watch) that tracks new developments of over $25 million in the Twin Cities. All of this new development presents the great question of what happens with the property taxes during a new development project?…
Do your commercial real estate taxes seem too high? Is it time to appeal?
Minnesota’s deadline to file an appeal for taxes payable in 2017 is April 30, 2017, which means it’s time for commercial property owners, tenants, managers, etc., to decide if a tax appeal is appropriate. This post answers a few questions that I am frequently asked.
- My taxes are really high, should I appeal?
Property…
A Bank Sale of the Subject Property can be the Best Indicator of Value for Property Tax Valuation
Real estate buyers who purchase property from banks sometimes get the property for a price that seems below market. Assessors frequently dismiss these sales as “bank sales” and therefore irrelevant for property tax valuation. However, these apparent discounts can be the result of actual distress or market influences, rather than because the bank was under…