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Vacant Properties

July 1, 2022

Man standing on scaffold in a buildingAre you an investor who rehabs a lot of the properties you acquire? Are you a homeowner who is starting a gut renovation on a home you just purchased? Or, are you a commercial property owner who has had 100% vacancy on your commercial property for the past two years? For any of the above scenarios, you deserve property tax relief. 

Vacancy reduces the assessed value of the property, which generally reduces the property’s taxes. When we are talking about commercial properties, some level of vacancy is normal. Sometimes, a commercial unit is vacant for a period of time when the landlord is between tenants, for example. This is to be expected. But, for excessive vacancy, appealing your property taxes based on vacancy, with the proper evidence, may yield significant property tax savings.

For residential properties, it is important to begin collecting evidence of vacancy as you get started on your rehab project. Some forms of vacancy evidence include, but is not limited to: 

  • Photographic evidence of the renovation

  • Low utility bills, reflecting the property was vacant during renovation

  • Permits

If you decide to tear down a property completely, you should be taxed based on solely land value if there are no improvements on the property. If you are still being taxed on the home that no longer exists, you should appeal. For every year the property is vacant during constructed, you should appeal based on vacancy. 

Our office can assist you with appealing your property taxes for vacancy relief. We can walk you through the process and answer your appeal questions. Please contact us at 847-750-4626 for further information.