Cook County Property Tax Reduction – Commercial and Office Buildings

  • Successful Appeal

    Successful property assessment appeal Chicago and Cook County
    Typical notification letter from the Cook County Assessor's Office, received by Gary H. Smith on behalf of a client.
  • Cook County Property Tax Reduction – Commercial and Office Buildings

    Chicago commercial building tax reduction

    Gary H. Smith helped this building’s owner create a viable rental property by successfully arguing for an assessment reduction from the Cook County Assessor’s Office.

    For the owner of a commercial office building, property taxes are a significant burden on their operating budget.

    Commercial office building owners can be frustrated because they think they lack control over their tax liability. They may want to manage their costs by charging tax liability back to their tenants, but don’t know how.

    Gary’s office concentrates on real estate tax analysis and tax liability planning. He works in partnership with his clients to assist them in the cost-effective management of their properties, with special focus on their property tax burdens.

    Making Your Tax Liability Predictable

    With the help of the Law Office of Gary H. Smith, P.C., owners may be able to make their tax liability can be predictable and controllable, creating a more attractive situation for lessees. Through property tax planning, Gary consults with commercial building clients in structuring their leases to include a reasonable share of the property tax burden while also maintaining competitive rental rates.

    Commercial buildings can be valued in the assessment process based on their income-producing capacity. Expenses and rent are major factors in Gary’s analysis of the property’s value. The use, condition and tenant mix may also be factors.

    As part of the case, Gary’s office will develop an income analysis of the property, reviewing these elements:

    • The amount, quality and durability of lease income over the economic life of the property;
    • Market data rents and expenses, or actual income and expenses capitalized; and
    • Condition and the level of occupancy or vacancy of the property.

    Also, Gary can argue for lower taxes on the property’s value, based on sales of comparable properties in the area.

    Contact the office of Gary H. Smith, Chicago property tax appeals attorney, for assistance with your tax appeal on office and commercial buildings in Chicago, Cook County and Will, Lake, McHenry, DuPage and Kane counties.

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