The Burden of Proof
i
s on Us
Our practice is national, providing one-stop shopping for companies with multiple properties. Therefore, we keep current with the nuances of tax and assessment structures from state to state and city to city.
Valuation and assessment levies can be complicated. If the taxpayer is not well versed in the determination of property value, they often have no way of knowing if the assessment is fair. To fully understand how assessments are calculated requires correctly applying ratios that factor into equalized market values. Many states, and New Jersey is one, do not require disclosure of the ratio on the notices of assessment.
As a result, it is important to consult with a specialist who understands and can accurately gauge the value of a property. At Stavitsky & Associates, we study the property to verify the data on which the taxing authority is basing an assessment—is the square footage properly calculated? What is the physical condition of the structure? What about any site issues—are there any environmental concerns? Does the surrounding area include factors that affect value? Is the property marketable? Are there any factors that may add a stigma?
Because of our specialization in the tax appeal area, our appeals often lead to settlements as assessors realize we build and present a strong case. If necessary, we prepare for trial by personally cross examining the appraisal report and analyzing every element—comparables, the deed, sale encumbrances (for instance, was the sale subject to leases) and other factors that may affect the value. We also talk to plant or facility managers, buyers and sellers and other parties who may shed light on real value and help identify the basis on which the taxing jurisdiction is relying. We have more than 25 years of experience and, thus, a honed and accurate sense of value.
The appeal process we follow, while detailed and complex, is designed to minimize the effort of the client.