Select your service
As a boutique firm, RE offers support suited to every commercial property. Our most popular services include:
Tax Certiorari
Our industry veterans offer a truly custom service experience. Enjoy personalized attention and expert advice tailored to your unique property tax attributes.
Tax reclassification
When legal proceedings are required, we call on our network of esteemed attorneys and professionals to effectively prepare, plead, and close your case.
Judicial Review
Rest easy knowing our initial analysis is always free, and fees are entirely dependent on your final reduction amount.
Exemptions & abatements
Our industry veterans offer a truly custom service experience. Enjoy personalized attention and expert advice tailored to your unique property tax attributes.
Tax planning
When legal proceedings are required, we call on our network of esteemed attorneys and professionals to effectively prepare, plead, and close your case.
Tax management
Rest easy knowing our initial analysis is always free, and fees are entirely dependent on your final reduction amount.
Frequently asked questions
How are property taxes determined?
Put simply, property taxes are based on the value of a property. The Department of Finance uses three different valuation methods in determining this number. They may base a property’s value on comparable sales in the area; the property’s income; or by the construction cost of the property.
Are actual taxes based on the market value of a property?
No. Actual taxes are determined by the assessed value, which is 45% of the true market value.
If taxes are determined based on the assessed value, then what does transitional value mean
Your tax bill presents three valuations of your property: market, assessed, and transitional values. If a property’s market value is $500,000, the assessed value is $225,000. But what if the market value increases the following year? In this scenario, the property’s transitional value becomes relevant. Once a property’s value increases or decreases, the transitional assessment lets the change be phased in over the course of 5 years. If the new market value is $1mm, you’ll owe 45% of $600,000 the first year, then 45% of $700,000 the second year, and so on.
Does the same rule apply to market value increases due to construction?
No. Cost increases due to construction are not subject to a phase-in calculation.
Are actual taxes determined by the assessed or transitional value?
When the assessed value is low or decreasing, then your tax amount will be based on the assessed value. But if it’s increasing, the tax amount you owe will be based on the transitional value. Your tax obligation will always be based on the lower of the two numbers. (The transitional value is only relevant to your annual tax amount when it is lower than the assessed; since properties are reassessed each year, this value is critical as a placeholder to mark the change from the year before.)
Are all properties subject to the same tax rate?
No. Each class has a dedicated tax rate, which changes annually. The change happens in the middle of the tax year between the 2nd and 3rd quarters.
How frequently does the Finance Department reassess a property?
Properties are reassessed annually, but to ensure fair assessment, property taxes need to be challenged each year as well.
If I protest my taxes this year, will I only benefit this year or in future years as well?
The reduction amount will be for this year. Still, you will benefit over the next 5 years due to the transitional value. Your assessed value decreases, and even if your market value increases the following year, it will take 5 years until you are taxed fully on the higher amount.
What are your fees? Do I need to pay even if I don’t receive a reduction?
RE Tax Service charges a minimal application fee to cover the cost of our in-depth property review and analysis. The remainder of your fee is 100% contingency-based: if your assessed value doesn’t change, you won’t pay a thing. Our fees are fully dependent on your savings.
How do I know if my property is eligible for a reduction?
Before beginning the application process, RE Tax Service conducts an extensive review to assess your property’s eligibility. We perform an evaluation comparison to similar properties, ensure it’s categorized properly, and decide if your property tax seems fair based on this analysis. If we truly feel your assessment is accurate, we advise you not to apply for a reduction. However, if we discover that there are errors, we are happy to handle your claim and plan a swift course of action.
How long does a typical property reduction process take from start to finish?
The typical tax protest takes about 6-8 months. However, once a petition is opened, it provides you with future opportunity to request retro reductions for past years.
Are you attorneys?
RE Tax Service staffs tax certiorari specialists. We have decades of experience in appraisal and commercial real estate, giving us invaluable insight and methodology to secure your fair reduction. If it’s necessary, we do partner with respected attorneys who can help us with legal aspects of your case.
What is the process like?
First, an RE specialist will conduct a full interview with you to obtain essential information. He or she will perform a quick analysis to ensure eligibility before presenting you with the findings. Upon your approval and submission of a completed application, the team will then delve into a comprehensive analysis including onsite review, paperwork filing, etc. From there, we handle every stage of the appeal process.
What type of properties do you service?
Our Class 2 and Class 4 properties include co-ops, condominiums, office and apartment buildings, hotels, industrial and retail properties, new construction, vacant lots, and more.
What happens if my claim is denied?
Remember that there’s always a chance to appeal the ruling the following year. RE Tax Service works with you closely to complete all necessary paperwork and filing to maintain this right if eligible.