Tax Appeal Support
Tax Appeal Support
Acting as an independent third-party valuation expert, BBG appraisers can assist property owners considering ad valorem tax appeals of their commercial real estate.
We are not paid on contingencies and our opinions are designed to provide accurate and impartial valuation opinions.
Our scope of work consists of four phases:
First Phase – We provide a bracketing of values based on market data. We perform a mass appraisal technique in which we identify large quantities of comparable sales that may be applicable to the subject. We then identify which comparables are most applicable to an individual property and inherently identify a range of likely values for that individual property.
We do not form individual property value opinions. This is intended to compare the existing assessment to the likely range of value generated by the market, allowing a property owner to determine which assets are worth appealing.
Second Phase – We prepare restricted appraisal reports for individual properties for the owner’s use. As directed by the client, we prepare restricted use appraisal reports for individual properties within the portfolio. These are USPAP compliant appraisals with a complete work file and research. Inspections are often completed during this phase.
Third Phase – We prepare tax tribunal appraisal reports, based on the Phase II value opinions. As directed by the client, we write tax tribunal ready narrative reports based on the phase II restricted reports. These reports would be filed with the state tax tribunal to be used in the appeal.
Fourth Phase – We testify at the Tax Tribunal.
In the event that appeals are not settled, we appear as expert witnesses at the state tax tribunal.
Eric P. Haims, MAI, AI-GRS
Managing Director and Litigation Support Services Leader
Eric P. Haims is a Managing Director at BBG, Inc. in the NYC office. With 30 years of commercial real estate appraisal and consulting experience, he has appraised thousands of commercial properties located in the Metropolitan New York area and across the country. Eric’s primary market area is the five boroughs of New York City and Eric’s secondary market area is the surrounding Counties of Westchester, Putnam, Dutchess, Nassau, Suffolk, as well as Southern Connecticut/Fairfield County and Northern New Jersey/Bergen, Morris, Essex and Hudson Counties. Eric’s concentration is on Valuation, Litigation and Support Services, Expert Witness Testimony, Arbitrations, Appraisal Review, Discounted Cash Flow Analysis, Estate Tax and Planning, Gift Tax, Matrimonial, Tax Appeal, Consulting, Land Valuation and the Valuation of TDRs.
Eric also specializes in the appraisal of commercial properties for both litigation and condemnation purposes pursuant to eminent domain, including assisting in the preparation of expert witness testimony for both direct and cross examination and the writing of rebuttal reports. Eric has appeared as an expert witness on real estate valuation in Federal Tax Court, the Surrogates Court of Kings County, United States Bankruptcy Court-Southern District of New York, New York State Supreme Courts in Manhattan, White Plains, Jamaica, Queens and Syracuse, New York and Supreme Court of New Jersey, Hudson County.
