Property Tax Assessment Appeals

Updated August 2023

For many businesses, property tax is the largest state and local tax obligation, and a significant recurring operating expense that accounts for a substantial portion of local government tax revenue. Property taxes on business property accounted for the largest share of total state and local business tax revenue – 38.8%, or $368.8 billion in FY21, up nearly 12% over FY20.*

Reasons to Appeal Property Tax Assessment

Unlike other taxes, property tax assessments are ad valorem, meaning they are based on the estimated value of the property, and thus, could be confusing for taxpayers and subject to differing opinions by appraisers, making such assessments vulnerable to appeal. Assessed property values also tend to lag true market value in an economic recession.

How to Challenge Property Tax Assessment

Property tax appeals challenge assessed values and may reduce property tax liabilities. BDO has developed proprietary processes and procedures that may help companies generate tax savings and lower their effective property tax rate, regardless of industry.

Assessment and appeal dates vary state by state, and often county by county. If your annual property taxes are more than $75,000, contact us for appeal assistance.

*Total state and local business taxes: State-by-state estimates for FY20-FY21, December 2022