Hotel Property Tax Appeal
In today’s hyper-competitive hospitality market, hotel owners need to look for every opportunity to save on expenses while maintaining their five-star service. Skoloff & Wolfe specializes in data-driven property tax appeal representation and analysis for hotels and large commercial property owners nationwide.
Understanding the Intricacies of Hotel Valuation
When it comes to calculating property taxes on hotels, few taxing jurisdictions fairly distinguish the taxable value of the real estate from FF&E and good will. Consequently, hotels can be paying significantly more in property taxes than what is fair.
Skoloff & Wolfe are property tax appeals experts with a long track record of helping hoteliers, and other organizations and institutions reduce their property tax liabilities, save money, and increase the value of their holdings. We understand how income models work for hotels and we bring data-driven analysis to help municipalities understand the differences between hotel valuations versus other commercial buildings and properties.
Increasing Hotel Value Through Analysis
At Skoloff & Wolfe, we increase the value of our hotel clients’ real estate holdings. Whether through property tax appeals and abatements, or by conducting pre-acquisition or pre-construction analysis, we understand the hotel business on a granular level. Our clients rely on S&W for exceptional result-oriented representation on their most important assets.
Billions of Dollars in Assessment Reductions and Transactions
Skoloﬀ & Wolfe has a proven record of results. In recent years we have obtained billions of dollars in assessment reductions for our clients and property owners in multiple industries, including these in the hospitality space:
- Reduced hotel assessment from $421 million to $259 million for Orlando/Disney resort
- Reduced hotel assessment from $189 million to $131 million for California hotel
- Reduced hotel assessment $82 million to $70 million for New York City hotel
- Performed property tax analysis and due diligence for $300 million hotel portfolio in national transaction
All assessments rounded to nearest million
Skoloff & Wolfe clients include hotel operators, developers, management companies, financial institutions, REITs, universities, private equity firms, and other large commercial property owners nationwide.
Contact the Hotel Property Tax Attorneys at Skoloff & Wolfe
Skoloff & Wolfe will review your hotel property tax assessment free of charge, contact us to schedule your consultation.