Client Case Studies

RPC Property Tax Advisors has completed over a thousand property value assessment reduction cases representing billions of dollars in assessed values and tens of millions in property tax savings.

Following are just a few examples of RPC’s results:

Multi Family/Apartment Properties

Riverside County

588 UNIT MULTI-FAMILY PROJECT

Property owner had filed a property tax assessment appeal.
After more than a year, the owner was not receiving any tax relief from the County Assessor.
RPC was asked to handle the tax assessment appeal.

San Diego County

212 UNIT APARTMENT PURCHASED FOR CONDO CONVERSION

Developer paid a premium; commenced conversion, evicted tenants and made physical improvements.
Conversion was not completed due to deteriorating market and lack of sales; began re-rental program.
The property assessed value reflected the premium purchase price plus value of “condo” improvements.
As a rental, due to the significantly higher vacancy and re-occupancy expenses, RPC was able to demonstrate to the assessor’s office that their calculation of Net Operating Income was significantly overstated and a reduction in the assessed value was granted.

San Diego County

124 UNIT “FRACTURED CONDO”

Property Value Assessment for entire project reflected sales of first units in project which stalled due to market.
Project reverted to multi-family rental.
RPC achieved reduction in assessed value due to corrected valuation as rental property

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RPC’s 30 years of working with the various county assessors’ offices and establishing solid working relationships enables RPC to provide exactly what’s needed to reduce tax assessments in the fastest manner possible. Nobody can get it done better.

Retail Properties

Los Angeles County

11,000 SF Freestanding Retail

Surrounding retail strip centers sold around the area were coming in lower than subject’s price per square foot
Subject’s actual rent reflected a lower income value

Santa Clara County

120,000 SF SHOPPING CENTER

Due to downturn in consumer spending, tenants closed businesses and remaining tenants were under pressure.
Increased vacancy and reduced rents directly affected operating income and market value.
RPC performed site and market analytics, and negotiated significant property assessed value reduction.

Los Angeles County

9,900 SF Retail Neighborhood Center

Based on RPC’s detailed workup of market value and income approach, the board of Los Angeles was able to find a lower value for this retail center

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RPC’s 30 years of expertise in this space has led to the development of the best models for income analysis that complies with the SBOE assessment standards. The assessors’ appraisers appreciate RPC’s methods and detailed analyses which allows them to stipulate to the lowest assessed values possible. Nobody can get it done better.

Office Properties

San Diego County

646,000 SF OFFICE CAMPUS ON 37 ACRES

This property displayed increased office vacancy and downward pressure on rents, with.
Above average operating expenses.
RPC achieved a significant reduction in the property assessed valuation using market-derived capitalization rates combined with actual expenses and RPC’s proprietary software to develop the case arguments for re-assessment.

San Bernardino County

45,895 SF OFFICE BUILDING

Property was performing poorly.
Higher vacancy, lower rents, B location, high cap rate comps.
RPC achieved a 23 % reduction in the property assessed value and commensurate tax savings

Kern County

83,000 SF SELF STORAGE FACILITY

Significant assessment reduction due to the recession for this Bakersfield property.
Higher capitalization rate due to evictions, move outs, repairs and move-in incentives.

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RPC’s extensive understanding of the individual assessors’ offices procedures enables the assessor to reach a decision more quickly and efficiently, resulting in large assessment reductions.

INDUSTRIAL PROPERTIES (R&D, MANUFACTURING, WAREHOUSE, FLEX)

Los Angeles County

390,169 SF WAREHOUSE, TORRANCE

Reduced occupancy, lower rental and rent pressure from Tenants.
Reduced NNN reimbursements.
RPC negotiated a 20% reduction in this property’s assessed valuation.

Santa Clara County

74,200 SF WAREHOUSE

Property experienced reductions in income, property values and occpancies.
Reduced NNN reimbursements.
RPC achieved a 24% reduction in property assessed value and property taxes saved.

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RPC was able to prevail on its argument for a lower market value due to RPC’s high quality of comparable data and analytics supporting a sub-market downturn, higher capitalization rates as well as the specific problems with this property.

Hospitality Properties

Riverside County

153 ROOM PALM DESERT HOTEL RESORT

Property was experiencing significantly lower ADR’s.
Lower occupancy.
No commensurate reduction in operating expense.
RPC appealed to the county and successfully obtained a significant reduction in the assessed value.

San Diego County

125 ROOM MOTEL

Property experienced higher vacancy, lower ADR’s, higher CAP rates.
RPC successfully appealed the assessment and obtained over $2 million in reduction to the assessed value.

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RPC was brought on board after the owner had missed the appeal deadline for the prior year. Savings of roughly twice that amount could have been realized. Timely filings are critical to assuring you are paying the fair amount, and RPC’s staff and regular adherence to timelines could have saved this taxpayer significantly more. Nobody can get it done better.

Business Tangible Property (FF&E)

San Francisco County

HELLER EHRMAN LAW FIRM

One of the largest law firm bankruptcies to occur in the US.
County submitted bill in excess of $275,000 to the trustee for business property taxes due to prior year’s records.
Specific records were missing or not available.
RPC filed a business/personal property tax appeal.
RPC researched the bankruptcy and discovered relevant records to enable an 82.5% reduction in the tax.

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RPC Property Tax Advisors achieved the significant reduction as a direct result of errant prior-years’ Form 571 filings and numerous listings of non-existent FF&E. The investigation provided by RPC’s Business Tangible Property experts resulted in a very quick (approximately 30 days) correction in the tax rolls and the resultant reduction in liability to the estate. Let RPC handle your business personal property filings, audits and appeals.

Client Testimonials

"We appreciate your professional property tax consulting services to date and would recommend your Company’s services to other property investors and managers."

Rutherford Investments

"As important as the positive monetary impact is to our bottom line, the personal and professional service response to our needs by your staff is greatly appreciated."

Sequoia Equities

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