The staff at Assessment Appeal Advisors takes pride on assisting all of our clients in order to meet their intended goal. Every single appeal that we underwrite is unique and requires a different set of techniques in order to be able to maximize the overall potential reduction. With our experience, we can turn negative situations into property tax savings. Below are some of our more recent notable appeal success stories.
Assessor Enrolled - $26,573,109
Reduced to - $17,165,849
Savings - $9,407,260 / 35%
This new hotel was built with over 170 suites and recently finalized its redevelopment. The county assessed the new improvements of the hotel at nearly double the original construction cost. We were successful in reducing the base assessed value by a total of 35%.
Assessor Enrolled - $6,228,293
Reduced to - $3,850,000
Savings - $2,378,293 / 38%
Purchased at the peak of the market, the assessed value of this commercial property dropped when the market crashed. We were successful in reducing the assessed value by 38% on the annual decline in value, with similar reduction rates for subsequent tax years.
Assessor Enrolled - $14,071,794
Reduced to - $11,300,000
Savings - $2,771,794 / 20%
Due to the other comparable industrial properties being sold within the area for notably less, we were able to construct a case that led to savings. We were able to reduce the annual assessed value by 20% and similar reduction rates for subsequent tax years.
Assessor Enrolled - $4,580,440
Reduced to - $3,500,000
Savings - $1,080,440 / 24%
With several issues occurring in the market at the time this property was purchased, we were able to create these issues into advantages. The results were a 24% refund of property taxes paid for the applied tax year, as well similar results for subsequent tax years.
Assessor Enrolled - $18,982,568
Reduced to - $15,784,500
Savings - $3,198,068 / 17%
This newly constructed West LA multi-family was completed in the middle of 2017. Upon completion, the Assessor's office over-assessed the actual construction cost of the entire development. We were successful in permanently reducing the assessed value by 17% per year.
Assessor Enrolled - $5,525,000
Reduced to - $4,439,000
Savings - $1,086,000 / 20%
An investors worst nightmare. Six months after purchasing the strip retail center, most of the tenants moved out, resulting in a substantial loss of income. Our firm was able to turn this loss of income into savings on his property tax bill, resulting in property tax refunds.
Assessor Enrolled - $1,915,000
Reduced to - $400,000
Savings - $3,198,068 / 79%
The owner of this property wanted to transfer their former property tax installments towards their new primary residence. The county over-assessed the new acquired property, which exceeded the total limit for Prop 60 eligibility transfers. Our firm was successful in reducing the assessed value, which enabled the Prop 60 transfer to be reverted, resulting in the owner continuing to pay their original property taxes.
Assessor Enrolled - $1,511,306
Reduced to - $165,000
Savings - $1,346,306 / 89%
Vacant land, whether recently purchased during the peak of the market, is appraised on the highest and best use. With no improvements or entitlements being made, we are able to reduce the assessed value as low as possible. We were successful in reducing the assessed value of this parcel by a total of 89%.
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