See how Paramount Property Tax Appeal helped a San Jose Land owner save $130,000.
See how Paramount Property Tax Appeal helped a San Jose Land owner save $130,000.
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.
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.
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.