See how Paramount Property Tax Appeal helped a North Hollywood Apartment owner save $100,000.
See how Paramount Property Tax Appeal helped a North Hollywood Apartment owner save $100,000.
A newly constructed Apartment Complex in North Hollywood was assessed for an improved value of 17.9 Million.
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.
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.