Nobody enjoys paying property taxes, especially when a property is overvalued. Single-tenant, net-leased properties seem especially prone to inconsistent and unfair assessments.
But challenging those valuations can be exhausting in a time when assessors are fearful and obsessed with the dreaded "Dark Store Theory." They vehemently oppose using sales of vacant properties to value their jurisdiction's store, the one with the full parking lot.
How can the taxpayer shut down the hype and bring the assessor back to the table for a reasonable negotiation? Well, that depends. Here are essential points to consider in forming a protest strategy.
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