Hilco Global has issued a timely and relevant perspective on the trend toward increased corporate engagement of property tax advisory partners to limit both overhead and risk, and is today noting an added development specific to small businesses and recent tax code revisions.
The Compelling Case for Property Tax Advisory Services authored by Frank Lima, Managing Director- Hilco Property Tax Advisory, looks at how the complexities of managing the multitude of real estate and personal property tax requirements within a corporate tax environment are creating an onerous and risky burden on the internal departments and personnel charged with those roles.
Lima and his team are also observing a concerning trend toward establishment of unfavorable assessment burdens for owners of commercial and industrial real estate in some U.S. markets.
“If what we’re seeing with the upcoming November 2020 Proposition 13 ‘Split Roll’ vote in California and new financial reporting rules already being applied in Cook County, Illinois are indicative what’s likely to come from states and counties across the country, commercial owners had better get ready,” says Lima. “The handwriting is on the wall. Proactively managing a timely appeals strategy is likely to be more essential than ever for these holders of real estate moving forward.”
To obtain a copy of the perspective or schedule an interview with Frank Lima, contact Gary Epstein- Chief Marketing Officer, Hilco Global at [email protected]
About Hilco Global: Hilco Global (www.hilcoglobal.com) is a privately held diversified financial services company and the world's preeminent authority on maximizing the value of assets for both healthy and distressed companies. Hilco Global operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and then monetize that value. Hilco Global has a 30-year track record of acting as an advisor, agent, investor and/or principal in any transaction. Hilco Global works to deliver the best possible result by aligning interests with clients and providing them strategic insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has 600 professionals operating on five continents.