Industrial Property Tax Appeals

Tax assessment appeals for industrial property often require a multi-layered approach to valuation, combining market analysis, income capitalization, vacancy rates, and valuation of substantial non-real estate assets at the county and state levels or in the Circuit Court.

With spiraling labor costs and recent slowdowns industrial market expansions, it remains critical to optimize asset value by controlling the tax burden.

Siegel & Callahan’s industrial representations include:

  • manufacturing plants,
  • laboratories,
  • dry and cold storage warehouses,
  • distribution centers,
  • truck terminals,
  • utilities, and
  • landfills.

New Acquisitions

We have years of experience working with institutional and private capital buyers to reduce new acquisition tax profiles successfully. The timing of an appeal – either prior to or immediately following a new asset purchase – can critically affect the assessment profile of a property for several tax cycles. We are uniquely sensitive to the issues surrounding new acquisitions, including transactional drivers that distinguish acquisition cost from market value. Our team leverages this understanding and helps our clients attain profitability to amplify the success across a range of asset purchases, including new enterprises, relocations, or expansions.

Incentive Classification

We maintain a keen awareness of how assessment practices interrelate with governmental incentive programs. This requires a thorough understanding of the interplay between state and local valuation authorities and regulatory agencies. Given our singular focus on assessment law, our industrial property tax lawyers and real estate professionals provide the knowledge and experience required to anticipate and address the complexities of government incentive classification.

Bank Owned Property

We have worked with numerous financial institutions to reduce substantially the tax footprint of REO properties and foreclosed assets. By streamlining the aggregate assessment of these holdings, these entities become easier to market. Our aggressive attention to the maintenance of these properties helps our clients acquire a dominant position in this often neglected sub-market.

Changes in the Field

The current assessment climate is undergoing radical change. Despite the rush to embrace data analytics to establish valuation modeling and methods of mass appraisal, it remains critical to maintain a granular focus on the unique facts that set our clients’ properties apart from others. We are your guide through the complex landscape of valuation, and will help deliver the collaborative insight of our internal strategic teams, lawyers, and experienced professionals to ensure you receive fair tax treatment.