Property tax exemptions
Our lawyers conduct an ongoing review of records, property descriptions, construction details and planned acquisitions, then determine your eligibility for tax exemptions.
Our lawyers regularly review property tax records for all properties owned – or being acquired – by our clients for possible new or continuing property tax exemptions. We do this work for clients across the country. We specifically review property descriptions and use new build details, property records and relevant legal authorities to determine eligibility for property tax exemptions.
We then prepare and file property tax exemption applications with the appropriate local/state agency. Our lawyers respond to all requests from such an agency regarding requests for exemption from property tax. When a local/state agency appeal becomes necessary, Vorys prepares the appeal and represents our clients before the board of review or court.
Property tax advisor during acquisition / development
We inform you of the impact that a new acquisition can have on property tax expenses, on tax budgeting during development and on the opportunities available to minimize these amounts. We advise on a local, regional and national basis.
When companies acquire real estate, it is paramount that they undertake proper due diligence regarding existing tax implications. Vorys regularly assists clients in appraising properties prior to acquisition to provide advice on budgeting and underwriting. Our attorneys review and appraise properties to identify parcels that are overvalued and estimated cost savings that may exist or identify and estimate potential exposure to increased property taxes as a result of the planned acquisition. Where such exposure exists, Vorys helps identify and assess potential measures to mitigate this risk.
For projects in development or in the planning phase, Vorys helps clients develop property tax budgets, manage appraisals for partially completed improvements, and manage initial appraisals once completed. Where appraisers rely on cost data for such appraisals, we ensure that appropriate disclosure is made to avoid excessive appraisals based on inaccurate data.
Property tax payment services
Accurate budgeting. Timely payments. Quick access to documents requiring immediate attention. We stay one step ahead on your behalf and make the whole process efficient.
Property taxes are often the largest non-productive expenses incurred by homeowners. Property assessment and tax notices are different from most accounts payable and require a professional understanding of the process. Collecting, reviewing and paying property tax bills adds an additional administrative burden to property owners. Vorys can collect property tax invoices and notices and make payments on your behalf. We streamline the process, helping you save time and money. With Vorys managing your tax payments, you’ll simultaneously benefit from a number of efficiencies and improved property valuation services. These can result in reduced tax burden, more accurate budgeting, and additional time for internal staff to focus on higher priority efforts. Our comprehensive service is designed to save you money.
Paying property tax bills and our comprehensive property tax assessment services go hand in hand. Without the need for additional layers of administration, Vorys is able to redirect clients’ property tax invoices and notices to us, review them with our clients, and make timely payments on their behalf. We have processes and systems in place that generally allow us to provide these services more efficiently than our customers can do internally.
While providing legal services associated with property assessment appeals, we continuously monitor anticipated property tax increases and decreases. We are proficient in our ability to accurately estimate taxes due by providing reasoned changes based on overall area values. When we make property tax payments on your behalf, we are able to pass on this information for your entire portfolio to improve your budget estimates, not just on the properties we are soliciting.
In many jurisdictions across the country, property tax bills are sent out just weeks before the objection filing deadline. When collecting payment notices, Vorys is the first to see and assess the estimated values of dispatchers. This puts us in the best position to take the necessary actions and ensure compliance.
Tax assessors often send advance documents that indicate invoices are on their way – or, in some cases, the proposed tax assessment is sent before the actual invoice. Vorys’ early access to these documents provides advanced notice of upcoming tax changes while simultaneously providing the best opportunity to guard against overpayments.
When Vorys has access to property tax bills, we can ensure that the tax assessors have accurately reduced the bills to the amounts agreed upon during the appeals process. By maintaining control over valuation services and payments, Vorys effectively ensures that changes in value are processed correctly and in a timely manner.