Process for Commerical Warehouse Real Estate Owners
A Commercial Warehouse structure typically consists of metal, concrete block, concrete tilt or quality metal construction and is used to store goods for commercial purposes. Warehouse space can be built as a single use structure or subdivided into multiple units. Depending on the type of property the building or individual units are either used by the owner or leased out.
For appraisal purposes, a county appraisal district (CADs) typically subdivides Commercial Warehouses into the categories shown above based on their highest and best use. A CAD will derive two different values when appraising a property: Market Value and Equity Value.
Whether the property is occupied by the owner or not will determine the market valuation approach used by the CAD. It may be any of the three approaches the Income Approach, Cost Approach or Sales 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.
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Contact Bettencourt Tax Advisors, LLC to learn more about how BTA’s experienced team can lower your property tax values.