Commercial Condo/Co-op Industrial
Field and Goldberg, LLC is a boutique real estate law firm practicing exclusively in the areas of real estate taxation, real estate transactions, and real estate litigation.

Real Estate Tax Assessments

Our firm zealously represents owners, tenants, receivers and property managers in seeking reductions in real estate tax assessments on all types of commercial, industrial and high profile residential properties. The objective of our real estate tax department is to maximize reductions, minimize taxes and obtain the greatest savings for our clients for the longest period of time. We believe that many of the substantial tax reductions that our firm has obtained for clients are due to our firm’s experience representing a significant number of clients for many years before the same agencies in all aspects of real estate, litigation and real estate tax and the ability to develop creative strategies arising from such work.

Field and Goldberg prides itself on the fact that, unlike many other firms that handle real estate tax work, we have attorneys rather than paralegals who play the major role in analysis in the tax assessment and appeal process.


Real Estate Tax Consulting

Professionals at Field and Goldberg are routinely engaged to provide tax estimates for purchasers and sellers of various types of real estate. Field and Goldberg’s attorneys typically counsel purchasers on the impact their acquisition price and post acquisition activity will have on future year’s real estate taxes. Specifically, Field and Goldberg routinely develops financial models based upon client’s income and expense projections as well as the recent purchase price to determine comprehensive real estate tax projections. Further, Field and Goldberg provides guidance based upon our past experience with similar types of properties located near the subject property. Once our analysis is complete, Field and Goldberg will then help the client structure the transaction to enhance the chances that real estate taxes will be at an optimal level. In many jurisdictions, Field and Goldberg assists clients with their allocation of real property versus personal property and with the allocation of business value or good will for real estate tax purposes.

Field and Goldberg is often retained to help determine and structure real estate tax proration provisions for both purchasers and sellers. Field and Goldberg will analyze all aspects of the situation to provide the most appropriate proration for our clients. Specifically, we review the year of the assessment cycle so that clients will know if a property is due to be reassessed. We also review the impact a recent purchase price may have on the future tax situation and review past and future income and expense statements or projections as well as vacancy issues. Finally, we analyze the probability of a successful appeal being adjudicated based upon our significant experience.

Field and Goldberg typically advises clients on any real estate tax saving opportunities that may currently exist or could exist in the future. Our attorneys often advise clients of possible incentives that may apply for a particular property. For example, we may advise clients about the details of obtaining a reduced level of assessment due to landmark status, a substantial rehabilitation of a blighted property in a low income area, remediation of an environmentally contaminated property or converting an abandoned property to productive use. Regardless of the issue, Field and Goldberg’s attorneys have significant experience dealing with the various incentives that are available to property owners and will help owners determine whether an incentive is both feasible and financially sound.

Field and Goldberg’s attorneys are aware of the issues confronting property owners and always provide practical solutions to minimize taxes for the longest period of time possible.


Timing of Appeals

Real estate taxes are a constant concern of any property owner or lessee. From the commencement of an acquisition of a parcel of property to its final disposition, real estate taxes must be actively managed so as to minimize tax liabilities.

All too often, this task is reserved for special occasions, such as a township or county wide reassessment. These occasions, although important, represent only a portion of the tax savings that can be achieved through a more proactive approach to real estate tax. At Field and Goldberg we put our experience to work to seek out every opportunity to reduce your property taxes throughout the life cycle of your property. Beginning with pre-acquisition planning, we continuously monitor the tax status of your property and take all necessary actions to obtain the maximum tax reductions available. Field and Goldberg constantly reviews each property file to determine if there has been any change to the property or the area of the property to justify a reduction or further reduction to the real estate tax assessment. As a result, we have achieved great success in non-reassessment years.

Field and Goldberg will typically help clients with issues such as allocation of personal property, goodwill and intangible property versus real property, and with tax proration provisions in purchase and sale agreements to insure that our clients are aware of future tax implications of their purchases and have the opportunity to negotiate the best possible tax treatment at closing.


Actions

Field and Goldberg typically carefully analyzes historical assessment data to assess trends in a property’s fair market value for assessment purposes. We then investigate current assessment data and current comparable property’s data to determine whether a property is currently over assessed. We routinely obtain preliminary opinions of value from appraisers of a property’s market value and run an extensive financial analysis of current income and expense information. Field and Goldberg carefully reviews the client’s income and expense statements to look for opportunities to extract business value or intangible value from a property’s financial statements for real estate tax purposes. Field and Goldberg provides a comprehensive review of past assessments and Assessor’s records as well as all current records to insure accurate and fair assessments long into the future.

Field and Goldberg typically provides the following services:

  • Analyze data pertinent to the property to determine its fair market value.
  • Investigate and analyze real estate tax assessments and the bases upon which the assessments have been arrived.
  • File complaints, briefs and arguments, and supporting documentation with the Assessor, and the Board of Review, if necessary.
  • Closely monitor the assessment process during administrative proceedings and request a re-review if dissatisfied with conclusions reached by the Assessor or Board of Review.
  • If, after exhausting administrative remedies, the assessment results are unsatisfactory, file a complaint, brief and supporting documentation with the appropriate appeal board or file and litigate a valuation objection suit in circuit court.
  • Obtain at the client’s expense, but subject to its prior approval, appraisals or other expert opinions, as needed, in support of our real estate tax reduction efforts.
  • Review the actual tax bills for accuracy as to, among other things, assessed valuation and tax rate.
  • Provide annual estimates of taxes for budgetary and marketing purposes and update those estimates if assessments change materially.
  • Advise our clients on a general basis regarding the impact of proposed actions on real estate taxes.


Administrative Hearings, Appellate Boards/Circuit Court

Often times, Field and Goldberg will be involved in oral hearings or phone hearings with Assessor or Board of Review personnel. Field and Goldberg has established a highly credible relationship with assessing authorities and tax appeal boards, thus providing our firm with unparalleled access to assessment officials. If Field and Goldberg is unsatisfied with the relief obtained at the Assessor or Board of Review, we will file complaints with further appellate boards or circuit court taking into consideration the possibility of interveners (third parties objecting to our current assessment and likely advocating an increase in assessment) and the degree of burden of proof. Thus, Field and Goldberg routinely balances these concerns to determine what venue of appeal is best for each client’s situation. Field and Goldberg attorneys are experienced in trial work and have a reputation of being unafraid to try cases and as a result receive excellent settlement offers.


Results

Field and Goldberg has saved its clients literally tens of millions of dollars in tax savings. Field and Goldberg has continually demonstrated success where others have failed. We believe that our creativity and persistence make us uniquely situated to achieve outstanding results despite difficult circumstances. At Field and Goldberg, only excellence is acceptable. We look forward to demonstrating our superior skills and tenacity on your behalf.

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