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This Could Make an Impact on Your Bottom Line

ATLANTA—“The commercial real estate market is constantly moving up or down but is never flat.”

By Jennifer LeClaire | jenniferleclaire | | Updated on May 30, 2016
GlobeSt.com caught up with Anne Sheehan, CEO of Real Property Tax Advisors, to get her take on real estate tax reduction strategies in part one of this exclusive interview. GlobeSt.com caught up with Anne Sheehan, CEO of Real Property Tax Advisors, to get her take on real estate tax reduction strategies in part one of this exclusive interview.
ATLANTA—Anne Sheehan, CEO of Real Property Tax Advisors , is concerned commercial real estate owners are leaving money on the table . In fact, she’s more than concerned—she’s convinced that many are coming out of pocket on taxes more than the law requires. GlobeSt.com caught up with Sheehan to discuss this reality in part two of this exclusive interview. What you learn could make an impact on your bottom line. GlobeSt.com: How has the commercial real estate recovery impacted property taxes and affected the bottom line of companies with real estate holdings? Sheehan: The strong recovery in the commercial real estate market over the last few years has caused property taxes to skyrocket, and an estimated 85 to 90% of US companies with real estate holdings are paying their property taxes with few questions asked. So far, 2016 has not been “business as usual,” as companies have experienced the slowing of global economic growth, the volatility of oil prices and the political climate where anger is emerging as the new hope. M&A activity has almost come to a complete stop as investors step back and owners watch multiples decline. So how do these macro issues affect commercial property tax assessments? State laws require that commercial property be assessed at fair market value. These fluctuations in our economy directly impact sale prices and rental rates that companies will pay. The commercial real estate market is constantly moving up or down but is never flat. Treating commercial property taxes as a fixed business cost is a missed opportunity to save a lot of money. GlobeSt.com: What types of businesses should look at their real estate taxes? Sheehan: Any business that owns commercial property. Whether your holdings are retail , commercial, industrial , mixed-use, multifamily or hospitality related, you are impacted by your property taxes.

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