Patrick C. OConnor has been president of OConnor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.
Area(s) of Interest and Expertise • Finance• Real Estate
Experience
Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction. Oconnor & Associates from Houston, TX, Texas US leading provider of cost segregation to reduce federal income taxes. Cost segregation can reduce federal income taxes for owners of commercial real estate by calculating real estate depreciation. Oconnor & Associates from Houston, TX, Texas US leading provider of cost segregation to reduce federal income taxes. Cost segregation can reduce federal income taxes for owners of commercial real estate by calculating real estate depreciation. www.poconnor.com www.oconnordata.com www.oconnorcomps.com
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Comparable sales are the key ingredients in performing the sales comparison analysis. The sales comparison analysis is one of three primary approaches to valuing real estate. The two other primary approaches are the income approach and cost approach. The sales comparison approach is often co
The location of vendors and various third parties can be important in selecting the location of office space. Companies which have a strategic alliance with vendors or routinely access parts from vendors must consider the location of their vendors when selecting a
Tax reduction is just one of the benefits of cost segregation. Many real estate owners and tax preparers believe cost segregation simply defers payment of taxes. While they recognize it effectively generates an interest-free loan from the government, they do not understand it also provi
Leasing office space is time-consuming, complex and can divert attention from the primary functions of the business. Steps in the process of leasing office space include selecting a tenant rep broker, location, researching options, selecting the best options, negotiating
Although 75% of property tax appeals are successful and save homeowners an average of $450, only 7% of homeowners appeal annually. Research indicates five primary reasons homeowners do not appeal:
The process seems overwhelming and they do not know how to appeal.
They do not th
The income approach is often given primary emphasis when appraising a commercial real estate used to generate income. Estimates of value via the income approach are highly sensitive to changes in revenue, expense and capitalization rates.
Business valuations are performed using methodology similar to the process for real estate appraisals. However in business valuation, the data sources are different. Further, there are nuances in the form of analysis.
Reasons for business valuation engagements include the following:
Sam sold 2 commercial properties in June 2008 and was discussing tax planning with his CPA and cost segregation provider. The sales price for the properties was $5.2 million and $3.3 million. Sam had owned both properties for about 8 years. The cost segregation specialist estimated Sam could save mo
Tenants are generally provided time to prepare the office space for occupancy prior to the date when they must begin paying rent. However, in hot markets and for some very desirable properties or spaces, landlords will be able to require that
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