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Industrial Property

industrial property taxes

Industrial property is used for industrial purposes.  It sounds simple, but it comes in all shapes and sizes and covers a huge range of business types. Industrial property is a broad category encompassing many different types of buildings, each with different characteristics designed to support different business operations.

Are You Paying Industrial Property Taxes For Your Buildings?

These include warehouse/distribution buildings, manufacturing buildings, data-hosting centers, R&D buildings, and showroom structures. Manufacturing facilities are designed to house specialized equipment used to produce goods or materials. In addition to providing three-phase high capacity, electric power, these industrial properties may include heavy ductwork, pressurized air or water lines, buss ducts, high capacity ventilation and exhaust systems, floor drains, storage tanks and cranes.  Leased industrial properties tend to have longer lease terms than the average. However, industrial properties are much more vulnerable to market conditions than residential property, so the risk of vacancy is higher.

Regardless of the buildings use, industrial property taxes need to be reviewed and appealed with expertise to maximize the tax reductions.