Significant Tax Reduction for a New Luxury Hotel in Southern California

Results

Overview

In 2013, a developer of luxury hotels constructed a stunning new property in Southern California. Confident in their understanding of the market value, they initially appealed the assessment independently. However, the Orange County Assessment AppealsAppeal Here is the definition of appeal Board upheld the taxable value at over $41 million, resulting in an unexpected and significant long-term financial liability.

Challenge

The denial of the developer’s initial appealAppeal Here is the definition of appeal led to an over-assessment, imposing a considerable financial burden on the property.

Solution

The following year, Protax LLC was brought in to manage the appeal. Protax implemented a comprehensive strategy that included an informal review request with the assessor and a formal appeal with the Assessment Appeals Board. Leveraging a thorough financial appraisal and market analysis, Protax presented compelling evidence to accurately reflect the property’s true value.

Results

The successful appeal resulted in the taxable value being reduced from $41.44 million to $22.97 million, generating an immediate refund of approximately $208,000 for the client. Over the next five tax years, similar reductions and refunds were secured, saving the client over $1 million.

Conclusion

This case underscores the critical importance of engaging a professional property tax consultant. Protax LLC’s expertise and strategic approach significantly reduced the client’s tax liability, providing substantial financial relief and highlighting the value of specialized knowledge in property tax appeals.