See how Paramount Property Tax Appeal helped a San Diego gas station save $7,000 a year, forever.
See how Paramount Property Tax Appeal helped a San Diego gas station save $7,000 a year, forever.
BP West Coast Products (Arco) informed this owner-operator that he had 30 days to purchase this property at a “take it or leave it” price of $1,762,000 in December 2011. The San Diego County Assessor’s Office enrolled the full purchase price, and knowing it was too high, that’s when the client contacted our office.
Gas stations have three components of value; land and improvements, which is real property, business personal property which is taxed separate for pumps and tanks, and the going concern value of the business, which by law is not taxed.
Based on this information, we worked with the County to lower the property value, however they would only recommend a reduction to $1.3 million. Knowing that we had a strong case to go lower, we escalated our case to the County Board of Appeals.
By complex analysis and by gathering compelling data, we were able to secure a reduced value to $1,100,000 million for our client, resulting in a base year life-long savings of $7,000 for our client.