Landlords have empty space. Businesses decide they have too much space, and want to pay less, or have to pay less, for what they do have.
Income from property ownership declines, and expenses increase to both battle and adapt to the pandemic.
The value of commercial property of all types, apartment buildings, office space, warehouses, restaurants, hotels, industrial facilities and more, declines. With assessments often based on capitalized net operating income, a property tax assessment appeal may now provide the break owners and some tax paying tenants both need and deserve.
The deadline for filing any such appeal for 2021 in Allegheny County is MARCH 31, 2021. Now is the time to contact either Steven Petrikis or Rachel Felton of our Firm to assess your assessment and to help you gather the data needed to challenge it. Both Steve and Rachel are experienced tax assessment attorneys and both are also litigators who can vigorously advocate your appeal at the initial level (Board of Property Assessment Appeals and Review) or the appellate level (Board of Viewers).
With School Districts facing challenging times as well, on both the income and expense end, it is anticipated that more commercial and residential appeals arising from recent sales above assessed value will be filed against owners in 2021. Call your Metz Lewis relationship attorney or Steve or Rachel if you receive any such notice of appeal in the mail. These appeals can be successfully defended on many occasions.
This post was written Steve Petrikis