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1 - Find out why the tax jump occured from $100 to $500. To me it seems suspicous (sic?) that the property manager (PM) got it wrong and you know the City most likely only issued one increase.

I'm told that the property was re-assessed, and the tax amount skyrocketed. They did send us a copy of the 2002 tax statement from the county, but I don't know what the exact tax amount was last year.
I think the miscalculation was more incompetence than conspiracy--


OK, folks, here's the scoop.

Having spoken with the County Treasurer's office, and the head of property management, it seems that beaurocrats are a couple of years behind in assessing property value. The building we are renting was completed only 2 years ago (12/00 or so). So the NNN rates we were quoted at the time we signed the lease were based on the tax rate for vacant land.

It took the county a year or two to even figure out that there was a building with rental suites on this site. The resulting 1000% rate increase was made known to the property owner no later than March of 2002, but in the process of the property being sold, and due to the inability of management's accountants to use a calculator, it didn't dawn on the management until last week that they owed more money.

So due to the government and the property management being incompetent, us tenants are being stuck with the entire increase with two months to go in the calendar year.

I managed to get the head of management to let me know what the monthly increase will be for 2003 once things settle down and we spread the bill out over the entire year: about $1.06 per square foot per year, or roughly $100 a month for me.

I intend to scream and yell about the giant end-of-year bill, and get that spread out over time rather than having to cough it up at once.

I put hours of thought and research into the geographic location of this business, and rate of growth of the business has surpassed all expectations, but the hassles of a new suite have been horrendous.


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