Due to the COVID-19 pandemic, taxpayers have faced numerous challenges such as shutdowns, layoffs (furloughs), and unexpected expenses needed in order to address health and safety measures. As we begin to look to the 2021 filing season, you should consider what impact these issues may have on your property tax assessments. It will be important to collect various data such as production/capacity utilization, shutdown time, and additional expenses incurred to comply with local, state or federal mandates. Such information may support a significant assessment reduction if your business has been adversely affected by the pandemic. This is already a hot-button issue with assessing officials and they are poised to at least consider reduction in taxes next year. If you would like assistance, don’t hesitate to reach out to us.
