Author Archives: c06577603

Is your residential or commercial property overassessed?

With the California real estate market on the upswing, what kinds of properties are over assessed by County Assessors?  One huge area is new construction.

Commercial Property Tax Appeal - new construction

Commercial Property Tax Appeal – new construction

Generally, County Assessors are very aggressive in valuing new construction, whether residential or commercial, so these reassessments should be reviewed and likely appealed. There is no downside in filing an appeal because if you can’t get a reduction you can simply withdraw the appeal.

New construction in California creates a new “base year” value for the improvements. The land is protected from increase by proposition 13, but the new improvements represent property that must be reappraised. And the new assessed value is permanent, so reductions will benefit owners (or tenants that pay property taxes) for as long as the property is owned.

In California, base year appeals must be filed within 60 days of the Notification of Supplemental Assessment in order to get the reduction effective as of the date construction is completed. You can also file an appeal during the regular filing period for three years after the Assessor changes the roll value. If effective, these reductions are prospective, but still permanent, so well worth reviewing.

The regular filing period in California begins July 2 every year and ends either September 15 or November 30, depending on the county.

If you own commercial property in California, call us or click here for a free commercial property assessment. 

Massive property tax reduction in Alameda County.

551 Brown Rd   Google Maps1

Our client engaged Shannon & Snyder to reduce the assessed value of their 87,000 square foot light manufacturing building in Fremont.

With a 2012 assessed value of $13,100,000, the assessor put on a case to the Appeals Board at $9,500,000. 

Shannon & Snyder put on its case for an assessed value of $5,100,000 (roughly a $4 million reduction over the assessor’s valuation) – and we crushed it.

The board agreed to reduce the value to $5,500,000, a 58% decrease.

We also put on our case for 2013 and the board liked it so much that they set the value at $5,600,000.

These two reductions will result in property tax refunds of over $175,000.

$28,451.93 reasons we made this client smile!

Shannon and Snyder CPAs helped this Santa Clara property owner appeal their commercial property tax.

Sycamore Property Tax Refundnc

The assessed value was reduced from $3,346,397 to $1,000,000 resulting in the tax refund above.

Warning! The tax appeal filing season for many California counties ends SEPTEMBER 15th. The other counties are November 30th.

Is it your turn to save thousands in tax! Contact us right away for a free property analysis and you may be celebrating soon too! Our services are on a contingent basis – NO savings = NO fee.

Get your free property analysis started here.