The Challenge
The reason that the client’s prior appeal firm felt no reduction was warranted was due to this particular property was achieving 80% occupancy and above-market “average daily room rates”.
Solution
PROTAX LLC was able to achieve a reduction, which was granted on the basis that the “excess above market income” that was being generated by this hotel was due to the “goodwill” of the business enterprise operations under this national franchise name brand hotel.
Client benefit
Reduced assessment and a $10,000 refund to our client.
Resolution
PROTAX LLC achieved a one million dollar taxable value reduction.