Cornish & Carey Commercial

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Business cycles seem to shorten with each passing year. Real estate values that might have shifted from high to low every ten years in the past, now may rise and fall dramatically in only a twelve month cycle.

This instability creates wide variances in property tax valuations, creating the potential for over-valuation by assessing municipalities, which results in higher property tax bills for both owners and tenants.

Unlike other property tax consultants, C&C offers a "one-stop" solution to any property tax challenge. Each matter is handled in-house from the initial analysis through the administrative appeal hearing. If court action is required - whether at the trial or appellate level - (or even if the appeal hearing itself is contentious), our affiliation with a San Francisco firm of experienced tax lawyers with a history of successes in property tax litigation, enables us to efficiently manage the challenge to completion. C&C always evaluates each property tax assignment from both a technical and legal perspective; as a result, even if a challenge does not result in litigation, we are able to maximize the benefit of any applicable legal issues.

In order to effectively represent clients with multi-state holdings, we also have entered into teaming arrangements with two highly-respected nationwide property tax consulting firms, thus enabling C&C to secure the best results irrespective of a property's physical location.

Our "tax team" is comprised of two professionals with in-depth expertise including a former "Big 6" accounting firm partner-in-charge of Western Region State & Local Tax and co-Director of National Property Tax Consulting and a California Tax Attorney who is a partner in a law firm with a proven history of delivering results to owners and Lessees of commercial property, particularly in California.

Past experience with commercial property clients has shown that the typical scope of service will include one or more of the following assignments:

Filing annual appeals seeking reductions in valuation, i.e., "Prop. 8" appeals.
Negotiating, securing and challenging Supplemental Assessments resulting from the client's recent acquisition(s) or new construction.
Providing necessary information for the client's annual budget preparation.
Developing a databank of tax-sensitive information concerning all or certain of a client's properties.
Performing due diligence investigations with respect to recently-acquired (or to be acquired) properties.

Recent Clients

Equity Office (Cornerstone & Spieker merger)
Embarcadero Center - Boston Properties
American Industrial Properties REIT
The Irvine Company
Essex Property Trust
Federal Reserve Bank of San Francisco

Pricing

Pricing is dependent on the assignment type, duration and magnitude. Generally, our fees will be a combination of fixed fees, retainers and percentage-of-recovery.

	Office/R&D/Flex
	Industrial
	Retail
	Multi-Family
	Investment
	Client Solutions
	Commercial Real Estate Finance