Abraham Tieh, director of national commercial property tax at O’Connor & Associates, gives hotel owners an A-Z guide for building a successful appeal in any state.
Accurate valuation is the key to any successful property tax appeal, according to Abraham Tieh, director of national commercial property tax at O’Connor & Associates. Although states vary widely in their assessment methods, they often share a common misunderstanding of how to quantify business value. Use of the breakthrough O’Connor Approach™, which bases the assessment on tangible assets, has been critical to successful property tax appeals in all 50 states, resulting in client savings hitting $226 million in 2023 alone. Tieh also spotlights additional factors that add up to a winning case–from data showing recent settlement and sales figures for similar properties to regional expense ratio and cap rate research, an analysis of replacement and reserves and a detailed list of on-property FF&E or structural elements in need of repair.
Click the play button for appeal strategies that could lower your property tax payments 20% to 40% or more.
Episode sponsored by O'Connor & Associates: Interview with Abraham Tieh