Appeal.
Property tax appeals start August 1st and the deadline for Board of Equalization appeals is September 17, 2018.
A property owner is not required to pay more property tax than their fair share. Even if tenants are paying the property taxes, it is still advantageous to appeal if you think your taxes are too high. This helps your tenants save money and make your property more competitive.
Utah law requires all property assessments to be based on the current fair market value each January 1st. The basis for an appeal must be the property’s income, or comparable property sales during the prior calendar year. A recent appraisal could also be helpful. If you believe your valuation is too high, now is the time to act.
In a rising market, property owners (commercial or residential) should focus more on the actual tax amount compared to last year. Market values will rise and fall, but the ‘tax’ mill rate is theoretically adjusted to compensate. Answers to questions and Appeal Forms are available online here, or forms may be picked up at the Assessor’s office at 87 North 200 East, Suite 201, in St. George.
Jason Griffith | Senior Vice President
Jason Griffith is a senior member and commercial-investment specialist at NAI Utah South. He is a 22-year veteran in the St. George commercial real estate market. Jason has extensive experience in all aspects of commercial real estate, including: industrial, office, retail, consulting, investments, market analysis, project development and leasing.
Jason’s business philosophy is centered on building trust and integrity with clients. Success is the result of hard work, experience, knowledge, and belief that clients deserve ethical and competent commercial brokerage service. This philosophy guarantees clients receive the best possible service and reach their objectives. Integrity, Trust, Service, and a Hard Work Ethic are characteristics that illustrate Jason’s career and relationship with his clients.
Backed by his market experience, knowledge and education, Jason is a skilled negotiator who is well versed in the nuances of lease and purchase negotiations. Whether representing the seller or buyer / landlord or tenant, he is a key asset in the disposition of commercial property.
(Graphic by Daniel Moyle through www.flickr.com / creative commons use)