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Non-Profit Policies & Procedures ACCESS for America Inc.

Document #: Title: Print Date:
FCR107 PROPERTY TAX ASSESSMENTS
Revision #: Prepared By: Date Prepared:
0.0
Effective Date: Reviewed By: Date Reviewed:

Approved By: Date Approved:

Standard: N/A

Policy: All property tax assessments will be reviewed for accuracy and proper
assessed valuations to ensure minimum property tax costs to the company.

Purpose: To outline the areas for review in assessments and methods for appealing
overstated assessments.

Scope: This statement applies to the Finance Department for property tax
assessments for all sites owned by the company.
Procedures:

1.0 REVIEW OF ASSESSMENTS
1.1 All assessments are to be promptly reviewed. Many jurisdictions only allow a
challenge to an assessment within 30 days after the annual notice of assessed
value is sent. If the Finance Department misses the deadline, the Company loses
the chance to reduce the year's property taxes. There are normally no refunds for
prior years' property taxes even if successfully challenged in the future. Often, it
may be advisable to begin the analysis process prior to receiving the assessment
notice.
1.2 When reviewing an assessment, the first step is to find out how the property was
assessed. Ask for a full explanation of how the assessed value was derived.
Assessors are usually cooperative in providing this information.
Note: Do not make the mistake of thinking the Company's property has received a
favorable low assessment just because its assessed value is less than its market
value. What appears to be a below-market assessment may, in fact, be very high.
Many jurisdictions use "assessment ratios" that are a percentage of market value.
It is important that you compare the amount of a property's assessment to that of
similar properties.
1.3 Upon receipt of the basis for assessment, the following factors should be
reviewed:

• Research Similar Properties: Tax assessments are part of the public record.
Assessments of similar properties to the company's should be looked up to see
that the company's assessment is in line. The objective is to find assessed
values for similar properties that are far lower than the company's. For

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