Overview

Mayer Brown has a strong, experienced and diverse team of professionals who focus on property tax management and reduction work. Property taxes are often the largest recurring expense associated with owning and leasing property.

Particularly during economic downturns and periods of financial stress, assessment officials often feel pressure to push property valuations and, therefore, property tax liabilities, to the highest possible levels. Increased costs due to high property tax burdens put property owners, tenants and managers at a competitive disadvantage. Organizations with property interests should employ comprehensive and robust property tax management and reduction strategies to ensure property tax burdens are kept at fair and reasonable levels.

Experience

Mayer Brown has extensive experience in the following areas:

Property Tax Management

  • Represented large, multistate telecommunications network; devised innovative personal property tax depreciation argument; negotiated with local and state assessment and taxing officials; filed assessment challenge in court and negotiated a tax refund of just under $37 million.
  • Represented major oil refinery in Indiana Tax Court and secured property tax refund of more than $18 million.
  • Represented major waste disposal company in property tax case of first impression tried in circuit court and twice appealed to the Illinois Appellate Court and to the Illinois Supreme Court; victory resulted in tax savings of more than $16 million.

Transfer Tax Management

  • Represent a large, New York Stock Exchange—listed Real Estate Investment Trust—in connection with the transfer tax, recordation tax, mortgage tax implications and potential tax liabilities presented by a $7.9 billion merger of two entities. The real estate assets are located in 41 different states and hundreds of counties and municipalities.
  • Secured a transfer tax refund in excess of $5.5 million for a large, publicly traded, satellite communication and entertainment company based in Washington DC in representation of client before taxing officials to contest levied tax liability.
  • Represent a large, New York Stock Exchange—listed Real Estate Investment Trust—in connection with the transfer tax, recordation tax, mortgage tax implications and potential tax liabilities presented by a $3.2 billion merger of two entities. The real estate assets are located in numerous states, counties and municipalities.

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