Commercial Office Buildings are structures subdivided into individual offices which can be occupied by the owner or leased to individuals or companies.
For appraisal purposes, a county appraisal district (CAD) typically places Commercial Office Buildings into the categories shown above based on their highest and best use and will derive two different values when appraising a property: Market Value and Equity Value.
If the office spaces are leased or occupied by the owner, any of the three Market Value approaches may be used: Income Approach, Sales Approach or Cost Approach.
The Equity Value, also known as Uniform and Equal, is based on the CAD’s valuation of Comparable Properties and can also be used to fight for a lower value.
Contact Bettencourt Tax Advisors, LLC to learn more about how BTA’s experienced team can lower your property tax values.