Multifamily Property Tax Appeal Calculator

Successful property tax appeals can drop assessment 5–25% with strong comp evidence.

Current assessed value

Target assessed value

Mill rate %

Consultant % of savings

Consultant minimum

Years of benefit

Net savings (period)

$172,883

Annual gross savings

$64,750

Consultant fee

$21,368

How the math works

Annual savings = (current − target) × mill rate. Consultant = max(min, year-1 savings × pct).

($22M − $18.5M) × 1.85% = $64,750/yr × 3 = $194,250 gross − $21,368 consultant = $172,882 net.

How to Use

Enter current assessed value.
Enter target assessed value.
Enter mill rate.
Enter consultant fee % of savings.
Enter consultant minimum fee.
Enter appeal duration years.
Read net savings.

Frequently Asked Questions

Why appeal?

Mass appraisal often inaccurate at property level. Multifamily commonly over-assessed: 10-25% high in many markets. Sales comparable approach + income approach (rent + cap rate) often shows lower fair value. Filing window: typically 30-90 days after assessment notice. Skipping = paying inflated tax for next 1-3 years until next assessment. Annual appeal in some states.

Process?

Stage 1: informal review with assessor (free, 30-60 day window). Stage 2: formal hearing before board of equalization or tax board (filing fee $25-500). Stage 3: state appeals board or court (legal counsel $5-25k). 60-80% of properly-supported appeals win some reduction. Typical timeline: 6-18 months. Reduction averages: 5-15% of assessment when successful.

Consultant fees?

Property tax consultant: 25-50% of first-year savings, contingent. Typical: 33% of savings. Some have minimum fee ($1-10k). National firms: Marvin F. Poer, Ryan, Altus, RSM. Boutique local firms: similar contingent model. Annual retainer model less common (used for very large portfolios). DIY appeal possible but requires comp + income data + presentation skill.

Multi-year impact?

Reassessment cycles vary: TX annual, FL annual, CA Prop 13 limits to 2%/yr until sale, IL triennial, NY annual. One successful appeal compounds over reassessment cycle. 15% reduction on $20M assessment = $3M lower base × 1% mill = $30k/yr. Over 3-5 year cycle: $90-150k cumulative savings net of consultant. ROI: 200-500% on consultant fee typical.