FAQs
Does Kubert Appraisal Group assist with commercial property assessment appeals?
Yes. We provide professional support for commercial property owners and their representatives in the tax appeal process. More details can be found in the Commercial Property Appraisal Services section of our Resources tab.
Can Kubert Appraisal Group help homeowners with residential property tax assessments?
Kubert Appraisal Group focuses primarily on commercial real estate appraisals. For residential property owners, we recommend contacting a qualified residential appraiser for assistance with property tax assessments. Helpful information about the valuation process can also be found on the Lancaster County Assessor’s website and the Nebraska Equalization & Review Commission website.
If tenants stop paying rent, does the value of my real estate drop?
If a tenant vacates a commercial property, does the value of the property change?
The short answer is that real estate market values do not typically react immediately to changes in the short-term income steam. So no, the value does not decrease yet. The long answer is that prolonged vacancy results in reduced income to a property and the
reduced income will begin to erode the value of an income-producing property. If a vacant property can be leased to a new tenant within a reasonable amount of time, the vacancy may be considered part of the normal business cycle for a property. If a vacant unit remains vacant for an extended amount of time, the reduced occupancy not only reduces the income to the property, but the owner may be required to pay additional expenses normally paid by the tenant of an occupied unit. Both the potential reduced income and increased expenses to a property owner reduce the net income to the property owner. The change in annual income to a property may indicate additional analysis is appropriate to determine the effect on the market value of a property.