Car Wash - Fall 2016 - 44


IT TAKES HIGHLY
SPECIFIC KNOWLEDGE
OF JURISDICTION
REQUIREMENTS,
EXPERTISE IN
THE VALUATION
OF COMMERCIAL
PROPERTIES, AS
WELL AS TIME TO
RESEARCH, ASSESS
AND UNLOCK THE
MOST ADVANTAGEOUS
TAX-SAVINGS
OPPORTUNITIES.
there are many opportunities to significantly reduce your company's largest cost
of occupancy and its largest state and local
corporate tax obligation.
However, property taxes are complex
and vary from state-to-state. It takes
highly specific knowledge of jurisdiction
requirements, expertise in the valuation
of commercial properties, as well as time
to research, assess and unlock the most
advantageous tax-savings opportunities.
Most businesses do not have these internal
resources and should consider bringing in
outside expertise to evaluate property taxes.
If you know where to focus your efforts,
however, you could drastically reduce
your property taxes and your cost of occupancy. Explore the following actions you
should take and their potential impact on
your expenses.

1
2

ENCOURAGE CAPITAL EXPENDITURES

In business, you have to spend money to make money. That principle also
holds true with your cost of occupancy. Capital expenditures may cost your
car wash operation money up-front, but these expenses hold long-term value.
Consider the example of a car wash operating in outdated facilities with
obsolete equipment. If that company invests in a new facility, which comfortably accommodates its business and new technology to provide a better car
wash with less effort, they'll increase productivity and ultimately cash flow.

REVIEW YOUR
PROPERTY ASSESSMENTS

While you can't control the fact that
you have to pay property taxes, you
do have a right to appeal assessment
increases and potentially decrease the
amount you owe. Numerous properties
nationwide are over-assessed every year.
The best way to protect your company
against high property taxes is to regularly
review your property's assessed values.
Take time to re-evaluate the jurisdiction's assessments to determine if you've
been over-assessed. Appeal deadlines are
relatively short, ranging anywhere from
15 to 40 days from the date of the assessment, so take note of your jurisdiction's
deadline. You must still pay the property
tax in full by the due date, but with a
successful appeal you could be awarded
a drastic refund.

3

CONSIDER OUTSOURCING
YOUR TAX MANAGEMENT

According to a report published by IBM
and CFO Research, 44 percent of finance
executives state that effective management of corporate real estate assets is the
most important factor for reducing costs.
Effectively managing commercial property
taxes should be a high priority for any business. However, the property tax appeal and
management process is a complex one,
whether you're operating in one state or
many.
Jurisdictions have rigid regulations.
Deadlines are short. Preparing for an
appeal is time-consuming. Consider outsourcing your property tax management
needs to experts. It's often best to put the
burdensome task of commercial property tax
management in the hands of experienced
professionals who know how to handle it
strategically and conduct proper appeals.
Your cost of occupancy is not a fixed
expense. Too many business owners in the
car wash industry accept what they owe
in property taxes without taking strides to
appeal their assessments. By taking a more
strategic approach to your property taxes,
you could reap the benefit of significant
savings.
Anne Joyner Sheehan, CRE, MAI, is
the owner and CEO of Real Property Tax
Advisors, a national firm that assists businesses in managing the risk of their property
taxes for their real estate assets. Sheehan
has over three decades of experience in the
commercial real estate industry as a property
tax consultant, real estate appraiser, review
appraiser and commercial real estate broker.

44

C A1R W A S H M A G A Z I N E | W W W . C A R W A S H . O R G |
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Table of Contents for the Digital Edition of Car Wash - Fall 2016

Letter from the ICA
By the Numbers
Overheard Online
Shifting gears: Predictions in a growing industry
7 business trends to leverage in 2017
First ever full-service fueling
Coming clean on property taxes
3 global talentmanagement trends every manager should understand
The psychology behind purchasing
Are on-vehicle cameras a concern for car washes?
Working overtime
Randy Shick finds perfect fit in the car wash industry
Creating and cultivating loyalty
Inspiring people to shine
Women in Car Washing
Take a Tour
Wash Ideas
Focus on a Member
Blast from the Past
Download It!
Marketing Minute
Ask Champ
Top Tweets
Index of Advertisers
5 Things
Car Wash - Fall 2016 - bellyband1
Car Wash - Fall 2016 - bellyband2
Car Wash - Fall 2016 - cover1
Car Wash - Fall 2016 - cover2
Car Wash - Fall 2016 - 3
Car Wash - Fall 2016 - 4
Car Wash - Fall 2016 - 5
Car Wash - Fall 2016 - 6
Car Wash - Fall 2016 - 7
Car Wash - Fall 2016 - 8
Car Wash - Fall 2016 - 9
Car Wash - Fall 2016 - 10
Car Wash - Fall 2016 - Letter from the ICA
Car Wash - Fall 2016 - 12
Car Wash - Fall 2016 - 13
Car Wash - Fall 2016 - By the Numbers
Car Wash - Fall 2016 - 15
Car Wash - Fall 2016 - 16
Car Wash - Fall 2016 - Overheard Online
Car Wash - Fall 2016 - Shifting gears: Predictions in a growing industry
Car Wash - Fall 2016 - 19
Car Wash - Fall 2016 - 20
Car Wash - Fall 2016 - 21
Car Wash - Fall 2016 - 22
Car Wash - Fall 2016 - 23
Car Wash - Fall 2016 - 24
Car Wash - Fall 2016 - 25
Car Wash - Fall 2016 - 26
Car Wash - Fall 2016 - 27
Car Wash - Fall 2016 - 7 business trends to leverage in 2017
Car Wash - Fall 2016 - 29
Car Wash - Fall 2016 - 30
Car Wash - Fall 2016 - 31
Car Wash - Fall 2016 - 32
Car Wash - Fall 2016 - 33
Car Wash - Fall 2016 - 34
Car Wash - Fall 2016 - First ever full-service fueling
Car Wash - Fall 2016 - 36
Car Wash - Fall 2016 - 37
Car Wash - Fall 2016 - 38
Car Wash - Fall 2016 - 39
Car Wash - Fall 2016 - 40
Car Wash - Fall 2016 - 41
Car Wash - Fall 2016 - 42
Car Wash - Fall 2016 - Coming clean on property taxes
Car Wash - Fall 2016 - 44
Car Wash - Fall 2016 - 45
Car Wash - Fall 2016 - 3 global talentmanagement trends every manager should understand
Car Wash - Fall 2016 - 47
Car Wash - Fall 2016 - 48
Car Wash - Fall 2016 - 49
Car Wash - Fall 2016 - 50
Car Wash - Fall 2016 - 51
Car Wash - Fall 2016 - 52
Car Wash - Fall 2016 - 53
Car Wash - Fall 2016 - The psychology behind purchasing
Car Wash - Fall 2016 - 55
Car Wash - Fall 2016 - 56
Car Wash - Fall 2016 - 57
Car Wash - Fall 2016 - 58
Car Wash - Fall 2016 - 59
Car Wash - Fall 2016 - 60
Car Wash - Fall 2016 - 61
Car Wash - Fall 2016 - 62
Car Wash - Fall 2016 - Are on-vehicle cameras a concern for car washes?
Car Wash - Fall 2016 - 64
Car Wash - Fall 2016 - 65
Car Wash - Fall 2016 - Working overtime
Car Wash - Fall 2016 - 67
Car Wash - Fall 2016 - 68
Car Wash - Fall 2016 - 69
Car Wash - Fall 2016 - 70
Car Wash - Fall 2016 - 71
Car Wash - Fall 2016 - 72
Car Wash - Fall 2016 - Randy Shick finds perfect fit in the car wash industry
Car Wash - Fall 2016 - 74
Car Wash - Fall 2016 - 75
Car Wash - Fall 2016 - Creating and cultivating loyalty
Car Wash - Fall 2016 - 77
Car Wash - Fall 2016 - 78
Car Wash - Fall 2016 - 79
Car Wash - Fall 2016 - 80
Car Wash - Fall 2016 - 81
Car Wash - Fall 2016 - 82
Car Wash - Fall 2016 - Inspiring people to shine
Car Wash - Fall 2016 - 84
Car Wash - Fall 2016 - Women in Car Washing
Car Wash - Fall 2016 - Take a Tour
Car Wash - Fall 2016 - 87
Car Wash - Fall 2016 - 88
Car Wash - Fall 2016 - 89
Car Wash - Fall 2016 - Wash Ideas
Car Wash - Fall 2016 - Focus on a Member
Car Wash - Fall 2016 - Blast from the Past
Car Wash - Fall 2016 - 93
Car Wash - Fall 2016 - Download It!
Car Wash - Fall 2016 - Marketing Minute
Car Wash - Fall 2016 - 96
Car Wash - Fall 2016 - Ask Champ
Car Wash - Fall 2016 - Top Tweets
Car Wash - Fall 2016 - Index of Advertisers
Car Wash - Fall 2016 - 100
Car Wash - Fall 2016 - 101
Car Wash - Fall 2016 - 5 Things
Car Wash - Fall 2016 - cover3
Car Wash - Fall 2016 - cover4
Car Wash - Fall 2016 - outsert1
Car Wash - Fall 2016 - outsert2
Car Wash - Fall 2016 - outsert3
Car Wash - Fall 2016 - outsert4
Car Wash - Fall 2016 - outsert5
Car Wash - Fall 2016 - outsert6
Car Wash - Fall 2016 - outsert7
Car Wash - Fall 2016 - outsert8
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