Professionals at Field and Goldberg are routinely engaged to provide tax estimates for purchasers and sellers of various types of real estate. Field and Goldberg’s attorneys typically counsel purchasers on the impact their acquisition price and post acquisition activity will have on future year’s real estate taxes. Specifically, Field and Goldberg routinely develops financial models based upon client’s income and expense projections as well as the recent purchase price to determine comprehensive real estate tax projections. Further, Field and Goldberg provides guidance based upon our past experience with similar types of properties located near the subject property. Once our analysis is complete, Field and Goldberg will then help the client structure the transaction to enhance the chances that real estate taxes will be at an optimal level. In many jurisdictions, Field and Goldberg assists clients with their allocation of real property versus personal property and with the allocation of business value or good will for real estate tax purposes.
Field and Goldberg is often retained to help determine and structure real estate tax proration provisions for both purchasers and sellers. Field and Goldberg will analyze all aspects of the situation to provide the most appropriate proration for our clients. Specifically, we review the year of the assessment cycle so that clients will know if a property is due to be reassessed. We also review the impact a recent purchase price may have on the future tax situation and review past and future income and expense statements or projections as well as vacancy issues. Finally, we analyze the probability of a successful appeal being adjudicated based upon our significant experience.
Field and Goldberg typically advises clients on any real estate tax saving opportunities that may currently exist or could exist in the future. Our attorneys often advise clients of possible incentives that may apply for a particular property. For example, we may advise clients about the details of obtaining a reduced level of assessment due to landmark status, a substantial rehabilitation of a blighted property in a low income area, remediation of an environmentally contaminated property or converting an abandoned property to productive use. Regardless of the issue, Field and Goldberg’s attorneys have significant experience dealing with the various incentives that are available to property owners and will help owners determine whether an incentive is both feasible and financially sound.
Field and Goldberg’s attorneys are aware of the issues confronting property owners and always provide practical solutions to minimize taxes for the longest period of time possible.