By Wayne Rose, Senior Managing Director, Americas Practice Leader, Property Tax Services at Cushman & Wakefield
One of the challenges facing investors with commercial real estate portfolios is determining their property tax assessment and ensuring that they pay the appropriate amount. Cushman & Wakefield’s Property Tax Group helps to navigate these intricacies, working closely with property owners and occupiers, so that they can plan accordingly.
The Property Tax Group begins with a comprehensive assessment of our client’s portfolio in order to identify the best opportunities for savings. Our experts analyze operating statistics for properties, including sales, cost of occupancy, NOI, vacancy, and potentially struggling tenants. After this thorough review, the group then recommends the best solutions for tax savings strategies.
Cushman & Wakefield offers clients access to some of the top experts in the industry. As a full services firm, we also bring access to a greater range of services to address our clients’ needs. For retail portfolios, our retail Valuation & Advisory team, led by Rick Latella, works closely with our Property Tax Group to provide our clients with a single, unified service to maximize tax savings.
One of the most powerful tools that the tax group offers to our clients is a proprietary software program that tracks and manages property taxes throughout the portfolio. This web-based application tracks multiple data points, including where the highest property taxes are paid within the portfolio, where the highest rates are found, and which are the most expensive regions found within the portfolio. The feature-rich software also allows email alerts for upcoming tax bills and appeal deadlines, document warehousing, and appeal-tracking modules.
The ease of use of the software allows clients to access this valuable information quickly and efficiently, and to produce custom reports that allow clients to evaluate specific data instantly.
The benefits that Cushman & Wakefield’s Property Tax Group offers present our clients with a simplified yet comprehensive approach to property tax strategy, which in turn transforms the tax burden into a strategic advantage within a real estate investment portfolio. By partnering with us and taking advantage of the full range of capabilities we offer, investors can be certain that their tax assessments are sound, their savings maximized, and their portfolios more as profitable as possible.
To view Wayne Rose’ Video Interview from “Live at RECon 2017!” CLICK HERE.
Mr. Rose is Managing Director and U.S. Practice Lead of the Property Tax Services (PTS) team within the Cushman & Wakefield Western, Inc.’s Valuation & Advisory group. In this role, his mission is to develop and expand the PTS practice by developing professional relationships with clients as their trusted advisor and providing outstanding leadership to the PTS team.