Taxonics: Changing the Face of Commercial Real Estate Tax Consulting
Empowerment: it’s our purpose.
Having spent two decades providing property tax consulting services, I have watched other industries evolve through technology, but not ours. Commercial real estate owners have suffered as a result. Property tax as a service is stuck in a rut and companies in our industry seem satisfied with that complacency. But at Cavalry, we’re not.
In fact, we know there’s a better way. One that’s better for commercial real estate owners and tax consultants alike. When you consider the fact that real estate taxes are THE most significant real estate operating expense, it makes perfect sense to offer an option to put the power to control, manage, and reduce that tax burden in the hands of the people who pay them.
That’s why we created Taxonics.
When fully operational, Taxonics will be Cavalry Real Estate Advisors’ home-grown, self-service, property tax platform. Taxonics marries mountains of quality commercial real estate data with powerful analytics and applications. It’s a technology solution to help owners, operators, and investors in the commercial real estate industry navigate jurisdictional nuances, review assessments, identify tax savings opportunities, file appeals, and project real estate taxes on new deals.
HOWEVER, this isn’t a wholesale replacement of personal consulting, and Cavalry and our skilled professionals aren’t going anywhere! There will always be a need for professional property tax advisors in the market. Just as CPAs co-exist with the likes of TurboTax, there is a space and place for both, because real estate portfolios and profiles aren’t homogeneous.
Some portfolios are larger and have more complex property tax issues than others. For those owners, there will always be a need for right brain ingenuity and intuition, which is a purely human characteristic, and something a computer can never replicate. But for those real estate owners and operators whose business models are better suited for a self-directed software, we give you Taxonics.
Those of us who have worked on the institutional side of real estate often forget that nearly 80% of all commercial properties are owned or operated not by the large corporate players we read about in our local business journal, but by small and medium investment firms, families, and individuals. For those users, or single purpose entities that want a more cost effective and self-directed option when managing their own property tax burdens, Taxonics will be that solution.
As we continue to build out the full Taxonics product roadmap, phase one delivers the platform powering our own team’s capabilities for the clients we serve. We’re focused on data, analytics, and insights, using powerful algorithms to identify hidden tax savings to support successful tax appeals and mining mountains of information to deliver more accurate real estate tax forecasting. After adequate testing and further front-end development, our second phase will operationalize those capabilities as client-facing applications.
It all adds up to a platform that truly empowers people, providing a one-stop-property-tax-shop for jurisdictional information, pertinent data, and tax savings. We already deliver the industry’s best property tax consulting services, and we’ll continue to do so. Our expanded mission envisions a 21st-century option that will democratize access to industry expertise in a convenient, cost-effective technology solution: Taxonics.BACK TO ARTICLES