Property Reassessment
Is the lease up on this apartment-based business?
Q: I run a mail order business out of my apartment. But my landlord is concerned that my business will cause his real estate taxes to change from residential to commercial, which are higher.
A: We've never seen a situation in which property was reclassified because of a home office. Julie Pfeiffer of the International Association of Assessing Officers says each state has its own code for property assessment, but in some states, municipal rulings differ from those of the state. She advises talking to your local assessor.
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