Reducing property taxes is an important financial step for a restaurant owner. There are different things that can reduce your tax bill including making sure your property assessment is fair. You can also appeal your property taxes to try to have them lowered. In order to do this, you will need help from an attorney. You will also need to collect data on the local market. The data supporting your appeal could be wide ranging.

Key Takeaways:

• Make sure you have an up to date assessment of the property.
• You can appeal a decision from the property assessors office.
• When appealing a decision, try and provide as much evidence as possible to support your request to have the assessment lowered.

“Property taxes can be one of the biggest line item costs for restaurant owners, but they don’t have to be. There are strategies they can use and information they can gather to help manage, and even lower, the amount operators pay in property taxes.”

Read more: https://www.qsrmagazine.com/outside-insights/4-tips-keep-property-taxes-hurting-your-bottom-line