Industrial Property Tax Reduction for Metro Chicago

  • 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.
  • Industrial Property Tax Reduction for Metro Chicago

    Tax relief for industrial building in Chicago

    The non-profit organization that owns this industrial building on Chicago’s north side received permanent tax relief through property tax appeals attorney Gary H. Smith.

    In a tight economy, owners of industrial properties are looking for every possible way to tighten costs. As with all other types of property owners, they are faced with property tax bills that can make or break their businesses.

    The Law Office of Gary H. Smith, P.C., counsels industrial property owners on ways to minimize their property tax burden and create a predictable cost structure for the ongoing management of their property. By reducing the need to worry about a shocking tax bill twice a year, they can keep their attention focused on what matters most: running their factory or warehouse.

    Factors in Property Tax Appeals for Industrial Property Owners

    Market value/appraisal: Gary will review the value of your property in the marketplace to ensure that the assessment is not excessive. This will include an analysis of comparable sales as well as rents in comparable leased industrial plants, factories, shops or warehouses.

    Income-producing properties: Industrial/warehouse properties 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 level of vacancy may also be factors.

    Recent purchase/sales price: Is the assessment higher than the purchase price, and most importantly, is there support for an argument that the purchase price was too high?

    Construction costs: Based on prevailing costs, what is the value of your building newly built, minus depreciation?

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

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