Paramount reduces the assessed value on a new Apartment building under the Cost of Construction!

The Problem

A newly constructed Apartment Complex in North Hollywood was assessed for an improved value of 17.9 Million.

Our Solution

Through extensive study of Client and Assessor documents, our valuation team found numerous errors. The County Assessor failed to account for the numerous low income units at the property, listed an incorrect date for the Certificate Of Occupancy, and an incorrect market CAP rate. Mistakes like these are made all the time, and clients often times do not have the resources to check the Assessor's work. That is why Paramount is here to help.

The Results

Following the presentation of evidence, the Board concurred with the Paramount valuation, and our client was awarded with a reduced valuation of $9.3 Million - a 48% reduction - which was also lower than the Cost of Construction for our Client.

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