Episode 16: Why Business Property Taxes May Be Increasing and What to Do About It

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Episode 16: Why Business Property Taxes May Be Increasing and What to Do About It

During periods of disruption and tax revenue declines, state and local governments often look for other means to generate tax revenue. With real and business personal property, this often manifests as tax rate increases or more aggressive assessment practices. Business owners may find themselves with a higher-than-expected real or business personal property tax bill coming out of the COVID-19 pandemic. Rich Hermes, our Real & Personal Property Tax practice leader shares what business owners need to know about this situation, including:

  • Definitions of real and business personalproperty
  • How states assess real and business personalproperty tax
  • What business owners can do if their propertytax assessment does not match their records
  • How property taxes can be adjusted
  • Timing considerations for a business personalproperty tax appeal

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Guest: Rich Hermes, Managing Director, Real & Personal Property Tax

Rich is the national leader for CBIZ’s Real and Personal Property tax division and has more than 35 years of property tax experience.

 

Copyright © 2021, CBIZ, Inc. All rights reserved. Contents of this publication may not be reproduced without the express written consent of CBIZ. This publication is distributed with the understanding that CBIZ is not rendering legal, accounting or other professional advice. The reader is advised to contact a tax professional prior to taking any action based upon this information. CBIZ assumes no liability whatsoever in connection with the use of this information and assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

Episode 16: Why Business Property Taxes May Be Increasing and What to Do About Ithttps://www.cbiz.com/Portals/0/Images/IP-AR-WhatsNextPodcast-Episode-1.jpg?ver=2020-12-06-124658-660Hear why COVID-19 may lead to higher property tax bills for business owners.2021-02-23T18:00:00-05:00

Hear why COVID-19 may lead to higher property tax bills forbusiness owners.

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