The Alvarez Firm provides proactive counsel to ensure that businesses that own real estate, avoid changes in stock, partnership or member interests that could inadvertently result in increased property taxes. Whenever a change of ownership occurs, the County Assessor may reassess the property at its full value. This can create a dramatic increase in taxes, especially if the property has been owned for a long time.
If a change of ownership has occurred resulting in a tax increase, businesses have about 60 days to challenge a reassessment, making it imperative to contact The Alvarez Firm immediately. To avoid this situation, be sure The Alvarez Firm professionals review any proposed real estate and business transfer before it is made.