Customer Success Story
Land Parcel in San Jose saves $130,000 before construction has even started!
See how Paramount Property Tax Appeal helped a San Jose Land owner save $130,000.
Industry
Vacant Land
Problem
Land Allocation
Results
A $130,000 reduction in taxes
The Problem
Our Client purchased a land site from a redevelopment agency for $4 Million and was assessed at about $15.1 Million for the parcel. The assessed land value was alarmingly high, so the Client ran it by the Paramount team for a market analysis.
Our Solution
Following our market analysis, we found the Assessor's valuation to be ludicrous. We immediately filed an appeal for the land value to be adjusted to the purchase price. It is not typical to find such a large discrepancy in land value, but sometimes an Assessor will wildly over-inflate values.
The Results
After the case was presented, Wes Nichols pointed out that the Assessor did not meet the burden of proof in their findings for land valuation, and the board agreed. Immediately, the Board granted the entirety of the reduction. The assessed land value was reduced by $11.1 Million. This successful appeal saved our Client about $130,000.
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