"You don't let Revenue Canada do your Income Tax...
Why would you let the Province set your property taxes?"
Property Tax Appeals
Parkes & Company Ltd. has been providing property consulting services in regard to property assessments since 1993. The company's president, John G. Parkes, AACI, P.App. has acquired a thorough understanding of the real estate appraisal field and its relation to the assessment system and appeal process during his 23 years in the assessment appeal field.
In fact - John has more experience at the Property Assessment Appeal Board than any other agent in the province. The company’s philosophy for handling property tax appeals is heavily rooted in ethical business practices and fairness to the tax payer. Each appeal with a strong argument is prepared for the eventuality that it will proceed to the Property Assessment Appeal Board. We believe this practice produces the strongest possible negotiating position with the BC Assessment Authority resulting in the highest possible tax refund for the property owner. We have the vast majority of the precedent setting decisions reached by the Board over the past two decades resulting in millions of dollars in tax savings for our clients. These decisions are often used by other agents to form the arguments for their appeals.
Parkes & Company Ltd. has been providing property consulting services in regard to property assessments since 1993. The company's president, John G. Parkes, AACI, P.App. has acquired a thorough understanding of the real estate appraisal field and its relation to the assessment system and appeal process during his 23 years in the assessment appeal field.
In fact - John has more experience at the Property Assessment Appeal Board than any other agent in the province. The company’s philosophy for handling property tax appeals is heavily rooted in ethical business practices and fairness to the tax payer. Each appeal with a strong argument is prepared for the eventuality that it will proceed to the Property Assessment Appeal Board. We believe this practice produces the strongest possible negotiating position with the BC Assessment Authority resulting in the highest possible tax refund for the property owner. We have the vast majority of the precedent setting decisions reached by the Board over the past two decades resulting in millions of dollars in tax savings for our clients. These decisions are often used by other agents to form the arguments for their appeals.
Property Tax Consulting
A significant portion of our business relates to property tax consulting. The complex nature of the assessment process and the ever-changing legislation and assessment procedures make it difficult for most organizations to determine if they are equitably assessed.
Our experience and understanding of all facets of assessment procedures and legislation, together with our extensive data bank enables us to provide our clients with in-depth and well-reasoned recommendations and, if required, with quality representation before the Assessment Appeal Board.
We provide a range of taxation services, outlined as follows:
A significant portion of our business relates to property tax consulting. The complex nature of the assessment process and the ever-changing legislation and assessment procedures make it difficult for most organizations to determine if they are equitably assessed.
Our experience and understanding of all facets of assessment procedures and legislation, together with our extensive data bank enables us to provide our clients with in-depth and well-reasoned recommendations and, if required, with quality representation before the Assessment Appeal Board.
We provide a range of taxation services, outlined as follows:
Portfolio Review
This se rvice is undertaken for firms with a number of real estate holdings who would like us to handle all aspects of their tax assessment requirements on an ongoing basis. This service basically involves ongoing discussions with the assessor respecting all new buildings or additions to buildings as they are constructed, a yearly review of all assessed properties, and assuring that any tax rebates due to the owner are calculated property. We also appeal assessments to the Board level if necessary.
This se rvice is undertaken for firms with a number of real estate holdings who would like us to handle all aspects of their tax assessment requirements on an ongoing basis. This service basically involves ongoing discussions with the assessor respecting all new buildings or additions to buildings as they are constructed, a yearly review of all assessed properties, and assuring that any tax rebates due to the owner are calculated property. We also appeal assessments to the Board level if necessary.
Property Assessment Review
This service is designed for projects which have been assessed and basically involves a review of whether the value applied is consistent with "Actual Value", and secondly looks at the "equity" of the assessment when reviewed in the context of a larger market segment. The initial steps involve ongoing negotiation with the Assessment Authority, and if this fails to achieve results, we will appeal the case to the Board.
This service is designed for projects which have been assessed and basically involves a review of whether the value applied is consistent with "Actual Value", and secondly looks at the "equity" of the assessment when reviewed in the context of a larger market segment. The initial steps involve ongoing negotiation with the Assessment Authority, and if this fails to achieve results, we will appeal the case to the Board.
New Project Assessment Review
This service is designed for projects still in the planning stage or under construction. We have had substantial success in appealing projects under construction, and can also talk with the assessor prior to the assessment being placed on the roll to discuss the method and the factors he intends to use to arrive at his assessment. We can also provide estimates on taxes relating to new construction for future years for budgeting purposes.
This service is designed for projects still in the planning stage or under construction. We have had substantial success in appealing projects under construction, and can also talk with the assessor prior to the assessment being placed on the roll to discuss the method and the factors he intends to use to arrive at his assessment. We can also provide estimates on taxes relating to new construction for future years for budgeting purposes.
Our services include:
Preliminary property reviews
· Review and analyze the current assessment levied against your properties.
Appeal property assessments
· Act as your agent throughout the assessment appeal process to negotiate out-of-court settlements whenever possible \
Apply for refunds of taxes
· Apply for and calculate refunds of taxes levied on your property where applicable.
Review and analyze lease documents
· Analyze the Property Tax clause within your Lease Document and advising on the proper method of apportionment, base year calculations and effective charge back formulas.
Negotiate assessment value throughout the construction phase
· Ensure an equitable assessment has been levied against your property.
Our primary goal is to ensure that our clients pay no more than their fair share of property taxes. Our objective is to establish and maintain your taxation equity through in depth analysis, monitoring of market trends and creative problem solving to ultimately provide you with a lower tax position resulting in long term tax savings. We deliver on this promise by negotiating property values with the British Columbia Assessment Authority and where required, represent our clients at various appeal tribunals. The long term tax savings we have obtained for our clients have ranged from a few thousand dollars to hundreds of thousands of dollars.
As well, reducing taxes provides more competitive occupancy rates for your project, and can substantially add to the capital value of the property involved.
Preliminary property reviews
· Review and analyze the current assessment levied against your properties.
Appeal property assessments
· Act as your agent throughout the assessment appeal process to negotiate out-of-court settlements whenever possible \
Apply for refunds of taxes
· Apply for and calculate refunds of taxes levied on your property where applicable.
Review and analyze lease documents
· Analyze the Property Tax clause within your Lease Document and advising on the proper method of apportionment, base year calculations and effective charge back formulas.
Negotiate assessment value throughout the construction phase
· Ensure an equitable assessment has been levied against your property.
Our primary goal is to ensure that our clients pay no more than their fair share of property taxes. Our objective is to establish and maintain your taxation equity through in depth analysis, monitoring of market trends and creative problem solving to ultimately provide you with a lower tax position resulting in long term tax savings. We deliver on this promise by negotiating property values with the British Columbia Assessment Authority and where required, represent our clients at various appeal tribunals. The long term tax savings we have obtained for our clients have ranged from a few thousand dollars to hundreds of thousands of dollars.
As well, reducing taxes provides more competitive occupancy rates for your project, and can substantially add to the capital value of the property involved.
