Real Property Taxation, Reassessments, Incentives & Abatements
Kotz Sangster Wysocki P.C. works with our clients to locate and secure tax incentives, Brownfield Development grants, Enterprise Zone designations and the like that may apply to their intended project. When the ultimate purchase decision rests on the ability to secure these benefits, a governmental incentive contingency is drafted into the purchase agreement to make certain that the agreement can be terminated without penalty in the event requested benefits are not forthcoming.
During the planning stages, Kotz Sangster attorneys meet with government officials to discuss our client’s development plans and the economic impact they will have on the local community. In doing so, we can maximize our client’s success by taking advantage of every available program.
With the decreasing fair market value of commercial and industrial real estate, our clients find that their real estate investments are over-assessed. We have developed an aggressive property tax appeal program to secure for clients reductions in taxable values. Partnering with real estate brokers and appraisers, we represent clients before local boards of review and the Michigan Tax Tribunal. By reducing the taxable value of the over-assessed property, Kotz Sangster derives for our clients a significant and long term economic benefit since once reduced, annual increases not attributable to property improvements, are capped at the rate of inflation or 5%, whichever is less, until the property transfers.
