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Market research determining estimated value and potential savings.
Detailed analysis prepared and submitted to county assessor. Negotiated a substantial reduction via stipulation.
Reduced Assessment, Refund to Taxpayer
Client assessment temporarily reduced and future assessments monitored, reviewed, and re-evaluated annually to ensure assessment is fairly assessed.
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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”.
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.
Reduced assessment and a $10,000 refund to our client.
PROTAX LLC achieved a one million dollar taxable value reduction.
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Unfortunately, this created a legal re-assessable event that allowed the county to re-assess the taxable value of the entire property. The final effect was that, just 3 years after the original purchase of the land, the assessor seized the opportunity to increase the value of the property by nearly $10,000,000, creating an additional $100,000 tax burden. This all took place by the actual opening of the hotel. Though property values did “increase during this 3-year period” between the purchase of land prior to the finished construction, the re-assessment increase in value far exceeded the actual increases during the same period.
PROTAX LLC examined the assessor’s value. What this revealed was that the assessor added the actual costs to the assessed value, but they increased the value of the land by $10,000,000. However, approximately 70% of this land is utilized as “vineyard”, for the purpose of the Mediterranean ambiance, but it was treated by the assessor as hotel land. By providing the assessor separate actual lower value estimates for the vineyard, as well as showing that the actual income did not support the overall re-assessment, we were able to achieve a reduction.
Reduced assessment and a $40,000 refund to our client.
PROTAX LLC achieved a four million dollar taxable value reduction.
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Market research determining estimated value and potential savings.
Detailed analysis prepared and submitted to county assessor. Negotiated a substantial reduction via stipulation.
Reduced Assessment, Refund to Taxpayer
Client assessment temporarily reduced and future assessments monitored, reviewed, and re-evaluated annually to ensure assessment is fairly assessed.
by
Market research determining estimated value and potential savings.
Detailed analysis prepared and submitted to county assessor. Negotiated a substantial reduction via stipulation.
Reduced Assessment, Refund to Taxpayer
Client assessment temporarily reduced and future assessments monitored, reviewed, and re-evaluated annually to ensure assessment is fairly assessed.
by
Market research determining estimated value and potential savings.
Detailed analysis prepared and presented to the Assessment Appeals Board. Professional representation, cross and closing statements compounded with extensive market evaluation and rebuttal of the assessor’s valuation.
Reduced Assessment as a result of Board decision.
Client assessment temporarily reduced and future assessments monitored, reviewed, and re-evaluated annually to ensure assessment is fairly assessed.
by
Market research determining estimated value and potential savings.
Detailed analysis prepared and presented to the Assessment Appeals Board. Professional representation, cross and closing statements compounded with extensive market evaluation and rebuttal of the assessor’s valuation.
Reduced Assessment as a result of Board decision.
Client assessment temporarily reduced and future assessments monitored, reviewed, and re-evaluated annually to ensure assessment is fairly assessed.
