Coakley Realty Has Best Year Ever in Tax Appeals
Coakley Realty Reports Upcoming Property Tax Reassessments in the State of Maryland in January, 2016 Affecting One-Third of Owners, State-Wide
One of the area’s foremost real estate firms has its best year ever in the tax appeals arena in 2015, successfully reducing over $40 million in tax assessments
ROCKVILLE, MD — December 29, 2015 – Rory S. Coakley Realty, Inc. (Coakley Realty), a premier full service residential and commercial real estate company in the Washington, D.C. metropolitan area since 1989, addresses the announcement of reassessments affecting one-third of property owners throughout Maryland in January 2016. 2015 marked Coakley Realty’s best year in the tax appeal space to-date, generating more than $40 million in collective assessment reductions for its clients.
The latest reassessment notices are set to reach affected owners by the end of December 2015. From there, property owners are given approximately 45 days to file an appeal in-person, by mail or phone. This coming reassessment period will lead to significant activity, filings, and meetings all across the state of Maryland, with the end result being a potential, and likely, change in property tax rates and values going forward next year. In Potomac, for example, some property assessments recently increased by as much as 40%.
Over the past several years, Coakley Realty has continued to deepen its expertise in the tax appeal area to deliver added value to its existing service offerings largely as a result of the lengthy, time-consuming, and convoluted system around the appeals process. The common occurrence of errors in assessments themselves, as a result of understaffing in some local tax offices, necessitates the company’s role as an on-the-ground expert and advocate for its clients in order to ensure assessments are accurate and taxes charged are correct.
Coakley Realty has continued to derive tremendous value by processing hundreds of millions of dollars’ worth of tax appeals for various property types, including single family homes, hotels, automotive dealerships, and self-storage facilities. Leveraging its seasoned local real estate knowledge, dedicated team of experts, resources for residential and commercial properties and data through its network of brokers, appraisers, and property managers, Coakley Realty is able to effectively process tax appeals, and succeed.
“When our clients receive their real estate tax assessment notice in the mail, we want them to know they don’t have to do it alone, and that our partnership with them extends to be their advocate in what can be a very stressful process. We know the system and what it takes to appeal and win, often saving them thousands of dollars,” said Rory S. Coakley, President of Coakley Realty.
About Coakley Realty
Founded in 1989, Coakley Realty is a premier full service residential and commercial real estate company in the Washington, D.C. metropolitan area specializing in residential and commercial real estate sales and leasing, property management, tax appeals, appraisals and litigation support. Coakley Realty’s staff of experienced and knowledgeable real estate consultants offers home buyers, home sellers, and business owners the best in real estate services and higher levels of expertise in analysis and negotiating skills.
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