Home: Authors: Patrick Oconnor

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Location: United States of America
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Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.

The first step to annually appealing your property taxes is to send a written notice to the appraisal review board (ARB) for the county in which your home is located. Even if you have not received a notice of assessed value from the appraisal district, file a notice of appeal by May 31st.
Alternative Minimum Tax consequences are not a result of cost segregation. Nor is cost segregation accelerated depreciation. Decisions regarding cost segregation and accelerated depreciation are independent by the four options as illustrated in the following matrix:
Many retail space leases provide the landlord the option of relocating the tenant at the landlord's expense. For example, consider a local retailer leasing 2000 square feet of retail space in a regional mall. The landlord is attempting to lease 10,000 square feet of space to a national retailer. However, to consummate the lease they need the 2000 square feet of space occupied by the smaller, local tenant.
Business purchase price allocation is necessary following the purchase or sale of a business. The purchaser needs to allocate the total purchase price to establish their books for the purpose of calculating amortization and depreciation.
Cost segregation is simply an accurate way to allocate the cost basis of real estate and establish a depreciation schedule. The real estate depreciation schedule is often established by allocating a portion of the cost basis to land and allocating the balance to a long term depreciation recovery period (27.5 or 39-yr straight-line depreciation).
Feasibility studies are a combination of a market study and financial analysis used to determine if it is financially feasible to develop a proposed property.
Many retail space leases provide the landlord the option of relocating the tenant at the landlord's expense. For example, consider a local retailer leasing 2000 square feet of retail space in a regional mall.
By understanding business tax deductions, business owners may enjoy personal benefits from business expenditures - a nice car to drive, a combination business trip/vacation, retirement savings plan - if they follow the myriad tax rules.
Property taxes are a substantial expense for Texas homeowners, averaging about $3,600 annually. To reduce this expense, property owners should annually review and consider appealing property taxes. While there is no guarantee that an appeal will be successful, a recent survey conducted by O'Connor & Associates indicates that 70% of property tax appeals are successful.
Although 75% of property tax appeals are successful and save homeowners an average of $450, only 7% of homeowners appeal annually. Research indicates five primary reasons homeowners do not appeal:
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