Office Space Overland Park KS

Figuring out the correct value of an office space in Overland Park KS can be a tricky business, especially when you factor in property taxes.  One way to investigate the correct value of a piece of commercial real estate is to find out what nearby properties are valued.  It can also be helpful to have a little background information on factors that determine property taxes:

  1. Market Value.  Market value is officially considered the price a buyer would pay for a certain property.  It is important to not confuse the dollar amount your company is paying for property tax, because oftentimes businesses are assessed at a lower dollar value for the purpose of property taxes.
  2. Property Improvements.  Contrary to the belief of many small business owners, building improvements actually will not raise the property tax rate for several years.  So spending money on improvements now could actually improve the value of your real estate soon.
  3. Historical Value.  Whether or not a property is considered “of historical significance” could be either a good or a bad thing for your taxes depending on the local government.  Some governments tax businesses more if they are in a historical area, while others actually assess lower taxes.

If you want to get a better read on whether the price of an Overland Park office space for lease is fair and accurate, doing a little background research into factors like these might be useful.

Want to learn more about Overland Park office space for rent?  Give us a call at 913-685-4100 and feel free to ask us any questions you have about Southcreek properties!

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