Property taxes are often one of a company’s largest recurring operating expenses. Property tax assessments in California can be confusing even for the most experienced real estate investor. County valuations can contain duplicative real and personal property assessments due to improper reporting by the owner coupled with assessment techniques used by the assessor. Generally, a change in ownership or new construction of real property results in a base year reassessment as to the portion of the property which underwent a change in ownership or experienced new construction.
Duff & Phelps specializes in identifying property tax savings opportunities by helping our clients to determine which properties are over-assessed, the factors leading to over-assessment, and pursuing assessment reductions. For organizations that believe their property tax values are excessive and should be reviewed and appealed, Duff & Phelps will perform a complimentary review of their real estate or personal property portfolio.