Residential Property Tax Reduction
Property tax Protection Program – every practical effort is made to reduce your property taxes, including appeals to the highest appropriate level each year, whether that is to the informal hearing, appraisal review board hearing, binding arbitration or coordinating a judicial appeal.
- You never pay a nickel for anything unless we reduce your property taxes.
- Assist you with exemption questions and applications at no cost.
- Work with you to confirm the appraisal district is not overstation the size or condition or grade of your home
- Discuss photos and other documentation that can make a real difference in you results.
The Property Tax Protection Program includes reviewing all accounts for binding arbitration and then filing binding arbitration or coordinating a judicial appeal for about 4,000 to 8,000 accounts. There are two options after the appraisal review board: - Binding arbitration is best for accounts under $5 million (except no limit on homesteads) where there is clear evidence of an error in market value, and
- Judicial appeals are frequently coordinated for commercial over $750,000 and residential over $1,500,000.
- The largest reduction O’Connor obtained in binding arbitration for a house is more than $10 million.
Commercial Property Tax Reduction
Commercial Property Tax Protection Program – the most aggressive effort possible to reduce property taxes annually is our focus. Certain appraisal districts are reasonable and we are able to settle all or almost all accounts informally. Other appraisal districts settle a few accounts informally. These accounts are generally taken to an appraisal review board hearing. For accounts above $750,000 which have had an appraisal review board hearing, we typically coordinate a judicial appeal. When we coordinate a judicial appeal, we:
- Pay the filing fee,
- Pay the attorney,
- Hire an expert witness to prepare an unequal appraisal analysis, and
- Hire an MAI appraiser to prepare a market value appraisal.
We bear all the cost and risk of coordinating a judicial appeal; you pay only if we reduce your property taxes. Binding arbitration for commercial: For commercial accounts under $750,000, we review for binding arbitration. If we pursue binding arbitration, we -
- Pay the filing fee of $450 or more,
- Prepare evidence on market value,
- Prepare evidence on unequal appraisal and
Cost Segregation – Bonus Depreciation
Cost segregation is a conservative, IRS-defined approach for depreciating commercial properties thereby reducing your federal incomes taxes and is the most accurate way to depreciate improved commercial property acquired or built after 1986.The O’Connor Cost Segregation team will work with you to answer all your questions about cost segregation depreciation and will assist you in determining if a cost segregation study will be of benefit to you. One of the key components in this process is a preliminary estimate of potential benefits.Your O’Connor team will provide, at no charge and with no obligation, a preliminary analysis that will estimate approximate savings for your asset based on studies previously completed on similar assets.
Commercial Appraisal
O’Connor is well known as a leader in appraisal of commercial properties. With our deep knowledge of each commercial appraisal district in Texas, we provide hearing evidence customized by county. O’Connor provides services to owners with portfolios exceeding $100 million in value, as well as owners of small investment properties.The O’Connor Commercial Real Estate Appraisal Difference:
- Integrity – Our clients receive honest opinions of value which financial institutions can rely on when making credit decisions.
- Fast and on-time delivery – We have integrated electronic software and access to national sales and tax rolls databases through Enriched DataTM. We realize that an appraisal is typically the last step in the loan process and we understand the importance of timely delivery.
- Exceptional depth of experience in Texas – We have provided appraisal services throughout Texas for 26 years. Our team of commercial appraisers has more than 100 years of experience.