Condo Owner Maximizes Their Property Tax Savings
Total client tax savings
$1000
Total assessment reductions
$1000
Overview
In 2018, a homeowner in Santa Monica partnered with Protax LLC to reduce the property taxes on their condominium. The goal was to minimize the property tax burden and achieve substantial long-term savings.
Challenge
The partnership began slowly, with minimal tax savings over the initial two-year contract period in 2019 and 2020. Despite these initial results, the homeowner remained committed to the relationship, hoping for greater long-term benefits.
Solution
Protax LLC implemented its standard and strategic two pronged approach submitting “informal requests for review” directly with the assessor’s office followed by filing “formal appeal applications” with the assessment appeals board. Protax LLC successfully delivered reasonable tax savings for 4 of its first 6 years while under contract. In 2024, the homeowner’s decision to discontinue the agreement led to the reversal of the temporary reductions which had been granted in previous tax years.
Results
- 2019: 4% reduction (formal appeal granted)
- 2020: no tax savings – formal appeal denied
- 2021: 13% reduction (formal appeal granted)
- 2022: 12% reduction (late correction to the assessment roll by assessor)
- 2023: 13% reduction (informal request granted by assessor)
- 2024: No reduction in property assessment
- In 2024, the homeowner chose NOT to renew its contract with Protax LLC and no informal request or formal appeal was ever made to the county.
Conclusion
The assessor restored the fully factored base year value with the posting of the 2024 assessment roll and NO tax savings were ever realized. This highlights the critical value of sustained engagement in property tax optimization to maximize and retain financial benefits.
