Do you sometimes wonder if you’ve hired the right property tax company to represent your hotels? That’s understandable. Property taxes are typically one of a hotel’s largest expenses. Since hotels are operating businesses, valuing them for property tax purposes requires a unique skill set to separate exempt intangible business value from tangible taxable property. That’s where Hotel Tax Consultants, LLC can help.
Why us
HOTEL TAX CONSULTANTS, LLC
At Hotel Tax Consultants, LLC, all cases are prepared by someone who:
- previously earned the CMI designation from the Institute for Professionals in Taxation.
- has an MBA with a concentration in real estate.
- is a licensed senior property tax consultant.
- obtained certifications from Marshall & Swift and the American Hotel & Lodging Association/ STR.
- has spent years studying the various aspects of hotel valuation.
We only represent hotels. Our focused business model allows us to give your case the time and attention it deserves. We use more than one hotel valuation method to do an in-depth analysis, separating exempt intangible business value from tangible taxable property.
We know that even if your hotel value stayed the same or decreased from last year, it could still be over-assessed due to lower earnings or lower comparable room revenue multipliers. So we work every case every year.
We believe competency and carefulness are part of integrity. And we know that if we put the client first, everything else will follow. To see our work quality, contact us for a free analysis of your hotel’s taxable value.
OTHER TAX COMPANIES
Most property tax companies are generalists. They represent all types of properties rather than specializing in one asset type. That type of business model can create problems when it comes to valuing an asset that’s very unique.
From our experience, it’s likely that the people working your case don’t know the difference between the Rushmore Approach and the Parsing Income Method. Often, many of the people preparing cases haven’t completed any real estate valuation courses.
Most tax companies represent all types of properties. The sheer number and variety of cases consultants have to juggle at these companies means most cases have shallow analysis.
Other companies may contract cases out to regional offices and split any resulting revenue. Revenue-splitting discourages the regional office staff from doing their best work on your case because they know they can earn more revenue and get a bigger bonus by focusing on in-house cases. If your hotel value didn’t increase this year, they may not even work your case.
Most tax companies prioritize the quantity of cases worked over the quality of cases worked. To find out whether your property tax consultant does high quality work, ask them to send you a workup of your hotel – then compare that to our workup.