Depending on your goals, searching for commercial properties by tax information can be a quick and easy way to find exactly what you’re looking for.
This can look different from user to user, of course. Maybe you’re an investor that’s looking for lucrative new investment, but don’t want to spend an arm and a leg in property taxes.
Or, maybe you’re a tax consultant prospecting for viable new business leads in need of appeals.
Whatever your case may be, searching for properties based on tax history can be simple and strategic using Reonomy.
How to Search by Property Tax History with Reonomy
To begin any search on the Reonomy platform, you need to start by first finding the search bar. This is identified by the magnifying glass icon.
Here, you’ll find eight different filtered search tabs; click Tax to start a search using tax information.
How to search by YoY change in tax amount:
After you’ve found the main Tax tab, you’ll find two filter options. The first, “Most recent YoY change in tax amount”, is the option to choose if you want to search specifically for properties that have had increases or decreases in their property taxes over the past three years.
To do so, simply use the drop-down menus to adjust your change range accordingly. You can either choose “Any” or choose from the following options:
It’s important to also note that these filters can be used in tandem with any of the other filters on the outstanding tabs, like Location, Asset Class, and Ownership.
So, let’s say you’re a Philadelphia-based tax consultant who works in the multi-family space. In the city of Philadelphia, tax appeals must be filed by the first Monday of October preceding the tax year for which the revision is requested.
To get a leg-up on finding prospects, start looking for leads when the most recent year’s tax information becomes available, preferably ones who have seen a 10-20% increase in taxes over the past year.
To do so, you would select that exact 10-20% range using the drop-down menus under the “Most recent YoY change in tax” amount filter option.
Then, you would add in your other filters; type in “Philadelphia” under the Location tab, then select ”Multifamily” under Asset Type.
In doing so, the Reonomy map will automatically populate with matching results to explore so you can find owners who need to appeal much faster.
How to search by most recent tax amount:
Similarly, you can create a filtered search by current tax amount. To do so, find the second search filter in the Tax tab labeled “Most recent tax amount.”
Here, you can use the two drop-down menus to adjust the amount price range to your liking. Choose either “Any” or select from the following:
So, maybe you live in the Philadelphia area and are looking to invest in a duplex to secure an additional source of passive income. But, you don’t want to pay more than 6,000/year in property taxes.
Using the same location and asset class filters above, in addition to the “Most recent tax amount” filter, you can serve up the options that match your criteria exactly. Simply enter $1000-$6000 in the corresponding drop-down menus and hit Apply. Then, the map will immediately populate with matching results for you to explore.
With Reonomy’s tax time series, creating a filtered search using tax information only requires a few clicks.
To learn more about our Tax Time Series, read our full product spotlight here.