Some business property is being double taxed but the owners don't know it! If you own or lease a restaurant, store, or office space with leasehold improvements there is a good chance that the personal and real property is subject to double taxation. Real property includes all land, buildings, and fixtures. All improvements on leased property must be considered real property. However, leasehold improvements can be taxed as personal property even if those improvements are technically real property so long as the underlying real property assessment does not include value for the leasehold improvements. This is where the costly double taxation can occur. Many real property assessments already include value for leasehold improvements. Cost calculator methods are used to value commercial and industrial buildings and these methods often have added or assumed items covering the leasehold improvements. Assessors also typically add value to the real property assessment when new construction items...
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my business was doubled taxed and now that I have found out there telling me there is nothing I can do I have to wait for them to ... Read More
Saturday, 15 June 2013 00:15
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Saturday, 15 June 2013 00:16
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