Contesting Retail Property Taxes

Nationwide, property taxes continue to rise despite the downturn in the retail real estate market. Thankfully, there are strategies that owners and managers of shopping centers can use to minimize their tax exposure. POER moderated a round-table discussion at
last month’s West Florida Idea Exchange to offer suggestions on how to effectively contest property taxes.

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Florida - Critics Claim Amendments
Stifle Development

Business groups are speaking out against two proposed changes to the Florida Constitution that go before voters in November.

Amendment 3 replaces the current 10% assessment cap for non-homestead property with a 5% cap. Since the cap is lifted when businesses and second homes are sold, there are concerns that that it will create tax disparities between new and long-time property owners.

Amendment 4 allows citizens to vote directly on whether to make changes in local comprehensive land-use plans. Since thousands of changes are made each year, critics worry about the cost and magnitude of holding an election each time a change is needed.

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Hawaii Releases 2010 Assessments

Tax jurisdictions on all the Hawaiian Islands except Oahu are issuing assessment notices this month. For many property owners, the new assessed value will not match the downturn in the real estate market.

Informal discussions with the assessor will solve the problem for some owners. Others will have to pursue formal appeals with the Board of Tax Review or the Tax Appeal Court.

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Tennessee Taxpayers Association
Opposes Bills

Six county assessors currently serve on the Tennessee Assessment Appeals Commission. New legislation introduced in the Tennessee House and Senate seeks to limit the number of assessors on the Appeals Commission to just one.

The Tennessee Taxpayers Association feels no assessors should serve on the Commission. TTA officials say since assessors set values, they should not be able to make decisions on the validity of assessments.

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Texas - No Hotel PP Renditions in
Bexar County

Hotel and motel owners in the San Antonio area do
not have to file personal property renditions this year. Tax officials made the move following new legislation that went into effect in January. It’s not clear whether all counties throughout the state will interpret the legislation the same way.