Allegheny County commercial property owners hit by pandemic can seek tax reductions

Over the years, Robert Peirce & Associates, PC law firm has successfully handled over 10,000 tax assessment cases. Its founder, Bob Peirce, leads the Assessment Appeal team.

In this unprecedented year, covid-19 has had a significant economic impact on Allegheny County’s businesses. Commercial property owners affected by the pandemic are now facing a significant drop in sales, which is why it is crucial for tax assessments to accurately reflect losses.

In a world that is getting used to staying at home and socially distancing itself whenever possible, businesses are not serving the number of clients / customers as was predicted before the pandemic. The result is less income. It seems that income will stay lower for the next few years, if not permanently.

The enormous toll this global pandemic has caused on businesses such as hotels, cafes, shopping malls and restaurants is overwhelming. Livelihoods are at stake and business survival is in equilibrium.

Since 1980, Bob Peirce Jr., founder of Robert Peirce and Associates, PC, has guided clients through the appeal process on the detailed steps required to obtain property tax relief.

“This year, more than ever, commercial property owners in Allegheny County or renters responsible for paying property taxes on the property should consider challenging their current property valuations,” said Peirce. “If your company has suffered from the pandemic, a reduction in property tax can be expected in 2021, but only if an appeal is lodged. In order to receive a tax adjustment, owners must provide evidence of this loss of income and file a commercial property appraisal application to obtain a revaluation of their properties. ”

Commercial real estate is traditionally valued according to the income approach. Quite simply, the more money a property earns, the higher the property’s market value. The less money is made, the lower the market value.

Property valuations are based on the current market value. It is required that property taxes be paid when due. When an appeal assessment is downgraded, companies can get a tax refund if taxes are “overpaid”.

Robert Peirce and Associates, PC, has been able to reduce property valuations for thousands of property owners and tenants for over 40 years. Cases are handled on a conditional fee basis and the law firm pays for an assessment if necessary. Reduced ratings once received can remain in effect for many years.

The deadline for filing appeals against real estate assessments begins on January 1, 2021 and ends on March 31, 2021. The earlier the complaint is lodged, the sooner the hearing will take place – and the sooner property owners will receive a tax refund if the assessment is reduced.

Guiding clients through the appeal process to ensure their appeal is comprehensive, complete, and strong is at the forefront of the Robert Peirce & Associates, PC legal team.

Bob Peirce leads the tax assessment appeal process for Robert Peirce & Associates, PC. To find out more, contact him at 412-281-7229 or email [email protected]

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