OFFICE/SHOWROOM N. STEMMONS/VALWOOD INDUSTRIAL DALLAS SUBMARKET
An Office/Showroom property owner was identified by our system as someone who was likely over assessed by a significant degree. We contacted the property owner before the 2012 deadline to file a protest expired. After seeing our analysis they agreed to let us a file a protest to dispute the value. The result was a $486,640 reduction in 2012 and an additional $360,970 reduction in 2013 for a total reduction of $847,610, which translates to over $24,000 in actual tax savings.
DISTRIBUTION WAREHOUSE N. TRINITY INDUSTRIAL DALLAS SUBMARKET
The property had been protested from 2009-2011 by two different consultants. The best either consultant could produce was a $30,000 reduction in 2010. Our system picked up on this property in 2012. The property owner authorized us to file a protest on the value in 2012, resulting in an over $1,300,000 reduction in value or about $27,000 in actual tax savings.
UNDEVELOPED LAND GRAPEVINE/COLLEYVILLE RETAIL DALLAS SUBMARKET
Our client financed a portion of land for a master development that, due to the economic downturn, never came to fruition. They foreclosed on the land and did not contest the property taxes for years. In 2012, the owner decided to protest the value, but due to a demanding schedule, decided last minute to hire our firm to handle the protest. We were notified on a Friday with the hearing the following Tuesday, leaving little time to prepare. The result was a $1,742,400 reduction in value. This case was successful due to the consultants extensive knowledge of site analysis. Several issues were highlighted in an informal meeting with the district appraiser in a well organized presentation that covered the following topics:
- TxDot eminent domain along the main highway, causing access issues to the property.
- The entire property was on a 16 degree slope, causing buildable site and dirt removal issues.
- A portion of the land fell in the 100 yr. flood plain.
- The entire site was deed restricted to Asian themed architecture.
All of these issues were discussed in great detail to decrease the value of land from $3.00/sqft to $1.00/sqft.