Over time property tends to increase or decrease in value based on factors such as maintenance, additions, upgrades, and the market climate. Obsolescence occurs when the value of a property goes down due to these or other factors. Property owners can take advantage of obsolescence to lower their taxes and realize some savings. Here are some insights on the types of obsolescence that you should look out for in your commercial property and the ways you can leverage them to generate tax savings.
20 December 2016