Commercial properties are what we do best. We’ve been doing it far longer than most of our competitors.
Here are some 2017 examples:
- In Dallas an out of state owner purchased a Walgreen store for $2,600,000. At the ARB we reduced its taxable value the following year to $1,600,000. We then reduced it further to $900,000 through Binding Arbitration.
- In North Dallas an office building was sold for $3,500,000 and leased back at a rental which supported the sale price. In the year following the sale/leaseback we reduced its taxable value to $2,400,000 at the ARB and further to $1,800,000 through Binding Arbitration.
- In Garland a Hong Kong based investor owned a shopping center valued by the appraisal district at $4,800,000. Its income supported the value but using comparable property sales nearby we reduced it to $4,300,000 at the ARB.
- Since 2001 we have represented one foreign based owner on twenty-nine retail and industrial properties with an aggregate value exceeding $40,000,000. Over the years we have reduced the assessed value of the properties by a combined total greater than their current assessed values.
In each case our contingent fee was 1% of the value reduction. Since tax rates are typically above 2.5% for each property, our fee was less than 40% of the owners’ first year savings.
Our background and experience in commercial real estate development have been significant factors in our clients’ success in controlling their property taxes each year. We can do the same for you starting this year!