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Patrick C. OConnor - ArticlesPatrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.
History of Cost SegregationCost segregation evolved as the result of multiple court cases and IRS rulings. The body of knowledge is summarized in the Audit Techniques Guide (ATG), published by the IRS. Commercial Real Estate Appraisal Cost ApproachThe cost approach was historically prepared as a part of most commercial real estate appraisals. However, the compunction to include the cost approach (when it was not relevant) has dissipated over the last 20 years. Use the Appraisal District's Information to Reduce Your Property TaxesHomeowners are amazed to learn they can obtain a copy of the appraisal district's evidence at a nominal cost. This is referred to as a House Bill 201 package, and is the only information many homeowners use to successfully reduce their property taxes New Home Construction Affects Home Tax ValuesMost people see new home construction in their neighborhood as a good thing. New homes typically help increase the market value of properties, so when someone in an older home goes to sell, they often can ask a higher price than areas without new construction. Leasing Retail Space - Location Facilities and Future DevelopmentResearch whether the retail space you are considering has adequate parking. Consider both the local Government code and feedback from tenants within the center. Also consider visiting a center four to six times prior to signing a lease. Abandonment Study Yields Tax ReductionAn abandonment study can legitimately generate a windfall of depreciation for the owner of investment or owner-occupied real estate. By increasing depreciation, substantial tax reduction can be effected. An abandonment study is appropriate when it is necessary to demolish or substantially renovate tenant improvements within a building. When existing tenant improvements are demolished, the undepreciated basis for the tenant improvements can be deducted in the year in which it is realized they no Estate TaxesEstate taxes are often referred to as the death tax. Few Americans are subject tp estate tas due to the exclusion on the first$2,000,000 of an estate (2006,2007, and 2008). Taxpayers with estates substantially in excess of this amount should consider planning to minimize estate taxe. For family businesses it is important to ensure adequate liquidity is available to pay estate taxes. Finding a Low Total-move-in-cost Houston ApartmentApartment shopping is complicated. You should ideally leave yourself more than one day to find an apartment. It is possible to find an apartment in one day. However, you'll get better results if you have more time to find the property and negotiate the best deal. Office Leasing and Rental Data_for Houston Metropolitan AreaHouston Area Office leasing and rental data can help office building owners to increase revenue, vendors to increase sales and provide a variety of industry personnel with data and reports to facilitate decision-making and communication. O’Connor & Associates provides comprehensive office building data for the Houston metropolitan area. This office building data is used by investors, management companies, brokers, vendors, appraisers and other industry participants. Apartment Tips -- Find a Great Apartment in Houston in One WeekApartment shopping in Houston is easy when you organize the process. This article will help you find a great Houston apartment at a great price. It will make completing the apartment application less stressful
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