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Patrick O'Connor, a designated member of the Appraisal Institute, is president of O'Connor & Associates. The firm, in business since 1974, specializes in real estate appraisals, research, and state and federal tax reduction services nationwide.
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Cost Segregation - Why isn't my CPA doing this?Most commercial property owners, even those who use professional accountants, fail to take advantage of cost segregation, a tax mechanism that could generate substantial savings in federal income taxes. Texas Apartment MarketAll Texas metro markets report current overall occupancies above 90%, with Austin leading the market at 93.39%. The lowest occupancy is found in the Dallas/Fort Worth market at 90.35%. Austin also leads the Texas markets in terms of rental rates, reporting the highest rents at $0.930 per square foot (psf). Average rents in the other metro markets are all below $0.870 psf. Monthly absorption was strongest in the Dallas/Ft. Worth market, as 641 units were absorbed in April. Appraisers lower costs for federal tax savingsTax savings through cost segregation is no longer out of reach for investors in small and medium size properties. With appraiser expertise, fees for analysis are often one-third to one-half lower than those charged by traditional preparers. Appealing Property Taxes for Apartment OwnersProperty taxes are one of the largest line item costs incurred by apartment owners. However, many owners do not appeal effectively. Even though owners realize that property taxes can be managed and reduced through an appeal, some view taxes as an arbitrary estimate provided by the government which can't effectively be appealed. It tends to boil down to the old adage, "You can't fight city hall".
Houston Retail Performance UpdateAn analyses of the retail market in Houston, Texas. Depreciate property improvements correctly with cost segregationMost commercial building owners are grossly overpaying federal income taxes because they are not depreciating their property as quickly as they should. A cost segregation study allows property owners to both defer and reduce federal income taxes. Cost Segregation provides apartment owners tax reliefApartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing. but through an innovative study known as cost segregation, the depreciation of property components can be used to help lower federal taxes.
Appealing your Texas property taxes- The BasicsTypically, Texas homeowners save $450 when they appeal their property taxes. Appraisal - Valuation of Subsidized HousingThe purpose of this article is to analyze valuation methodology for several atypical types of apartments. Various circumstances and situations can cause an apartment complex to have above-or below-market rental rates, occupancy rates and operating expense Houston Office MarketAn analyses of the office market in downtown Houston, TX.
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