$11.6 MILLION-DOLLAR REDUCTION FOR NORTH HOLLYWOOD APARTMENT

The Problem

Our client had just completed the construction of a new apartment complex in North Hollywood, which was assessed at a staggering $62.9 Million. The Assessor's office had made several assumptions that we believed were not reflective of the property's true value.

Our Solution

At Paramount, we are committed to ensuring a fair assessment for our clients. We decided to value the improvements based on an income approach using a land extraction method. By presenting superior market comparables and more accurate data than the Assessor's office, we were able to build a strong case for a substantial reduction in the assessed value of the property.

The Results

After presenting our high-quality information, the Board agreed with Paramount's valuation. The assessed value was reduced to $51 Million, resulting in an $11.6 Million tax reduction for our client. This reduction will remain for the duration of their property ownership.

Why Choose PPTA

• Staffed by CPAs, certified appraisers, and former county assessors
• Professional hearing representation at every stage of the appeal
• 45,000+ appeals filed
• 85% success rate
• No upfront cost
• $100M+ in refunds secured for clients
• 24% average assessment reduction
• $50B+ in assessed value under management
• Fee structure based on a percentage of the tax savings or refund you receive
• Experience across all commercial and multifamily property types
• Clients range from private investors to institutional owners, including Fairfield, Sunroad Enterprises, Brookfield, Mill Creek Residential, and Jade Enterprises
• Services provided across California, Colorado, Texas, Nevada, Arizona, and Washington