We will perform comprehensive consulting services during the course of property tax work performed for each client.
Our Consulting Services Will Include:
- Verify deadline(s) and filing procedures for filing notice(s) of protest and/or abatement/refund petition(s).
- Determine if any important rights will be lost if filings are not accomplished immediately and prepare and file documents in a timely manner to meet deadlines in order to preserve all rights for which time is running.
- Review and analyze all income and expense information, leases and rent rolls, appraisals and any other relevant information provided to 1st Net Real Estate Services, Inc. by the client.
- Once our review determines that a protest is warranted, we will prepare a detailed valuation report to document the lowest supportable value for property tax purposes for each subject property. The report is based on the statutorily-imposed approaches to property valuation for ad-valorem tax purposes or based on the criteria mandated by the appropriate state or county agency or entity.
What We Will Need From You
- Land surveys of the property to the extent they are available.
- Any recent appraisals (we can copy what we need and return the document to you unscathed).
- List of any major repair and/or upkeep, whether it was a capital improvement, maintenance item or tenant finish, which was done during the past five years.
- List of any uncompleted capital repairs such as a roof or elevator or overhead door that needs repair or replacement. Can include asphalt parking lots or landscaping.
- Also, we need to be aware of any chronic problems relating to your property, such as ADA issues, EPA issues, no frontage, poor access, etc.
What We Will Need From You for an Income Property
- Income and Expense (Operating) Statements for base period time frame.
- Cash Flow Statements
- Single page IRS Income Expense Schedule
- Rent Rolls
- Asking Rent Rates for vacant commercial space with sq. ft. size. Actual effective rental rates and sq. ft. size for each apartment model.
- Vacancy Rate:
- Commercial: Which spaces (and their size) are vacant as of January 1, June 30 and December 31.
- Multi-family: Monthly occupancy rates of leased apartments.
- Copies of any recent appraisals going back 3 years.
- Copies of leases (except for multi-family).
Contact us today at 720-962-5750 for a FREE Consultation.
