Archives: Case Studies
-
Slow Start Becomes a Tax Savings Bonanza!
—
by
All that you need to know:
Results Overview In 2015, a condominium owner on Spear Street in San Francisco enlisted Protax LLC to reduce their property taxes. The property had been purchased in 2009 for $2.8 million, and its assessed value had been steadily increasing in accordance with Proposition 13. Challenge Initially, the partnership progressed slowly, with no tax savings realized…
-
Garden Apartment Developer Saves Half a Million Dollars
—
by
All that you need to know:
Results Overview A developer owning four luxury garden-style apartment complexes in San Diego County, each comprising approximately 400 units, sought to significantly reduce their property tax expenses. To achieve this, the developer engaged Protax LLC, a firm known for its expertise in navigating complex tax regulations. Over a nine-year period, Protax LLC’s strategic approach led…
-
World-Class Spa Lands Major Relief
—
by
All that you need to know:
Results Overview Protax LLC successfully represented a prestigious spa and resort located in San Diego County. The initial engagement with this client began in 2002 and lasted through 2004. A second engagement commenced in 2019 and continued through 2022, following a substantial increase in the property’s assessment after significant investments were made to elevate the…
-
Eminent Domain Impacts Supermarket
—
by
All that you need to know:
Results Overview A Food4Less supermarket in Corona faced a significant decline in business due to the city’s exercise of eminent domain. The city’s plan to elevate the property’s street frontage reduced both its access and visibility along the busiest commercial corridor in the area, adversely impacting the property’s market value even before the new improvements…
-
Significant Tax Savings for a Premier Office Building in the Inland Empire
—
by
All that you need to know:
Results Overview Protax LLC successfully appealed the assessment of one of the most prestigious office buildings ever constructed in the Inland Empire. Initially assessed at over $43 million, the property struggled in a challenging rental market, remaining largely unoccupied for several years as the owner held out for top-tier rents. Challenge Excessive vacancies from 2013…
-
Significant Tax Reduction for a New Luxury Hotel in Southern California
—
by
All that you need to know:
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 Appeals Board upheld the taxable value at over $41 million, resulting in an unexpected and significant long-term financial liability.…
-
Tax Reduction: Section 515 Low-Income Housing Project
—
by
All that you need to know:
Results Overview Since 1995, Protax LLC, a leading property tax consulting firm, has been a dedicated advocate for Section 515 low-income apartment complexes across California. By the year 2000, Protax LLC had secured its position as the primary representative for the majority of these properties, managing over 330 complexes statewide. Through its advocacy efforts, Protax…
-
Successful Base Year Appeal for Vacated Special Needs School
—
by
All that you need to know:
Results Overview A client of Protax LLC purchased an industrial building on Venice Blvd that had been vacated by a special needs private school for $4,526,000. However, the county assessed the property at $10,375,000—an over-assessment of $5,849,000, or more than double the purchase price. Challenge Protax LLC faced the challenge of pursuing a base year…
-
Protax Secures Relief for Bay Area Office Property
—
by
All that you need to know:
Results Overview Protax LLC successfully represented a Bay Area client by achieving a substantial reduction in property assessment for their office building. This case demonstrates Protax’s expertise in responding proactively to shifting market conditions and navigating complex real estate valuation challenges. Challenge Despite maintaining near-stabilized occupancy, the office property was adversely affected by several unfavorable…
-
Base Year Reversal Leads to Massive Homeowner Refund
—
by
All that you need to know:
Results Overview Since 2011, Protax LLC has been assisting a client with securing temporary Proposition 8 reductions across five properties. Recently, the client faced a significant challenge when one of these properties was incorrectly reassessed, leading to a substantial increase in tax liability. The client sought a permanent reversal of this erroneous assessment. Challenge Following…
-
Main Street Condo Enjoys Double Dip Tax Savings!
—
by
All that you need to know:
Results Overview In 2016, an immigrant purchased their dream home—a luxurious $2.6 million condo in downtown San Francisco. However, the local real estate market took a sharp downturn due to the pandemic, leaving the property over-assessed and the owner burdened with inflated property taxes. In 2021, Protax LLC was engaged to provide essential property tax…
-
Condo Owner Maximizes Their Property Tax Savings
—
by
All that you need to know:
Results 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 no tax savings in the first year and only a modest 5% reduction in…
-
Condo Owner on Fremont Street Realizes Ever-Increasing Tax Savings!
—
by
All that you need to know:
Results Overview Protax LLC successfully managed the property tax appeals for a high-value condominium on Fremont Street in San Francisco. Over several years, a combination of informal requests and formal appeals led to progressively larger reductions in the property’s assessed value, resulting in substantial and increasing tax savings for the owner. Challenge The initial property…
-
Condo Tax Savings Doubles in Year Two Triples in Year Three
—
by
All that you need to know:
Results Overview In 2021, Protax LLC was hired to appeal the assessed value of a luxury condominium in downtown San Francisco. Over the course of three years, from 2021 to 2024, Protax LLC pursued a series of formal appeals and informal requests on behalf of its client as the largest real estate decline in San…