The COVID-19 pandemic has affected virtually every business, big or small, good or bad. With news changing every single day, our heads are spinning. At Property Consulting Group, we want to arm you now for next year’s property tax season. Taking the proper steps now will help during a potential valuation appeal if changes are not accurately reflected in your January 2021 commercial property valuation.
Read this quick list of tips so you can track and save the proper information for your property throughout this uncertain time.
- Keep precise and careful accounts of your expenses and income.
- If your business is shut down, keep detailed records of your close dates and related changes in revenue.
- If you’re open, but occupancy has drastically changed, or revenue has fallen, track that closely. Keep any and all relevant documentation.
- If you are a landlord, track unpaid rent and vacancies.
- If a property is damaged due to lack of occupancy, take photos, and track the cost of remediation.
When HCAD appraises properties in 2021, it will most certainly be a challenge for them to account for the unprecedented effects of COVID-19 on businesses.
When you receive your valuation next March, we will be right here to file your appeal. Our team can use all the careful records you’ve kept over the year to protest your property valuation. Our goal is to make sure your commercial property is taxed at a fair value, no matter how uncertain the times.
Call today to learn more. At Property Consulting Group, we are here to answer your commercial property tax questions. 281-880-6500