See how Paramount Property Tax Appeal helped clients save $42,000 per year on inherited apartments.
See how Paramount Property Tax Appeal helped clients save $42,000 per year on inherited apartments.
Often when a property is inherited, the transfer can create a re-assessable event. Typically, this causes the inherited property to be re-valued at present-day market prices, which can cause a serious spike in property taxes. Our clients inherited 39 apartment buildings throughout Los Angeles and San Diego County. The Assessor re-assessed the properties at present-day prices and completely overlooked the actual financials and earnings of the apartment buildings.
Our team gathered all the financial information that the Assessor overlooked, and conducted our own thorough valuation of the properties before submitting to the county assessors. In turn, we were able to realize that the assessed price should be much lower than the Assessor recently suggested.
Once we presented our valuation, the Assessor agreed to lower the value on 34 of the apartment buildings, saving our clients over $42,000 in property taxes per year.