Customer Success Story
TAXPAYER RECEIVES LIFE-LONG SAVINGS OF $4,204 PER YEAR
See how Paramount Property Tax Appeal helped a Newport Beach taxpayer receive $4,204 in savings annually.
Industry
Real Estate
Problem
Tax liability and increased taxes
Results
Obtained a life-long savings of $4,204 per year
The Problem
Our client purchased a home in Newport Beach for $2.2 million. However, due to the fact that it was a short sale, the Assessor incorrectly enrolled a much higher value, at 2.6 million for the property. We initially contacted the Assessor and submitted a bank appraisal, bringing the error to their attention, however the Assessor’s Office disregarded our appraisal.
Our Solution
As the Assessor’s Office was unresponsive, we presented our case to the Assessment Appeals Board. Using mapping software of the area which highlighted variant property prices based on ocean and non-ocean views, we were able to provide a thorough analysis that the original purchase price of 2.2 million was the correct value.
The Results
The Board resoundingly agreed with our assessment and lowered the supplement and base year value of the home. In turn, the taxpayer received life-long savings in $4,202 per year.
Why Choose PPTA
- Staffed by CPAs, certified appraisers and former county assessors
- Professional hearing representation
- 100+ years of combined experience
- No upfront cost
- More than half a billion dollars in client reductions
- Performance-based fee structure
- 10,000+ successful tax reduction cases
- Competency with all property types
- Clients range from investors to Fortune 500 companies
- Services provided for all 50 states