Customer Success Story
OVER $42,000 SAVED ANNUALLY FOR THESE INHERITED APARTMENT OWNERS
See how Paramount Property Tax Appeal helped clients save $42,000 per year on inherited apartments.
Industry
Real Estate
Problem
Tax liability and increased taxes
Results
Obtained a savings of $42,000 per year
The Problem
Often when a property is inherited, the transfer can create a re-assessable event. Typically, this causes the inherited property to be re-valued at present-day market prices, which can cause a serious spike in property taxes. Our clients inherited 39 apartment buildings throughout Los Angeles and San Diego County. The Assessor re-assessed the properties at present-day prices and completely overlooked the actual financials and earnings of the apartment buildings.
Our Solution
Our team gathered all the financial information that the Assessor overlooked, and conducted our own thorough valuation of the properties before submitting to the county assessors. In turn, we were able to realize that the assessed price should be much lower than the Assessor recently suggested.
The Results
Once we presented our valuation, the Assessor agreed to lower the value on 34 of the apartment buildings, saving our clients over $42,000 in property taxes per year.
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