Most real estate teams are working with dozens of local consultants to help manage property tax processes. In this guide, our property tax management experts share their advice for working with third-party consultants and advisors.
Real estate teams are typically working with external consultants to help them carry out the property tax management function. What's more, consultants aren't typically managing the entire property tax lifecycle. Instead, they're typically working with real estate teams specifically to manage assessments and appeals. As much as this can help contain costs, it can also introduce complexity.
But property tax is much broader and more complex than property tax assessments and appeals. Tax payments, forecasts, budgets, accruals, and fees also need to be managed in order to contain costs and optimize resources.
Overseeing who has access to what data, ensuring appropriate permissions, and ensuring you own the data when consulting engagements wrap up are important considerations.
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