Assessors Should Weigh Myriad of Factors When Determining Fair Market Value of Green Buildings

Assessors Should Weigh Myriad of Factors When Determining Fair Market Value of Green Buildings

 

A green building assessed purely on a cost basis, without considering whether its features are above market, may be overassessed and, as a result, overtaxed.

“A green building assessed purely on a cost basis, without considering whether its features are above market, may be overassessed and, as a result, overtaxed.”

A growing number of commercial properties incorporate efficient attributes that exceed basic code requirements. While conserving resources, these sustainable building strategies can also enhance the owner’s bottom line by reducing operating costs.

As investors consider developing or buying green properties in certain markets, though, they should consider a less obvious source of savings — their property tax bills.

This article was originally published on April 17, 2018, in Rebusiness Online and can be viewed in full here.

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