All Entries in the "Tax Experts" Category
Urgent Message-California Property Tax Relief
Tax Help
May, 2010. The market appears to be bottoming out. At least, so say the gurus. But don’t you bank on it. CAPTA believes we are currently in the eye of the storm, with the 2nd half approaching rapidly. It is precisely at this time you need a professional tax reduction company to guide you through the coming, actually the continuing commercial real estate recession.
California is in a real estate crisis and indeed, an economic crisis the likes of which have never been seen in history. Major California commercial property tenants such as Mervyns, Hollywood Video, Levitz, Sharper Image, Performance Team Freight, Linens n Things and Circuit City have recently filed for Bankruptcy. It was only a few short months ago that one of the safest bets in Real Property Investment was a NNN tenant such as Circuit City. Today, owners of such leases are scrambling to sell their vacant big box space to nonexistent buyers. So goes conventional wisdom.
You are at this site because you realize that now more than ever before, commercial property owners and managers must streamline their expenses and prepare for a commercial property value decline that is just now becoming evident. Read the paragraph below from “CoStar Group, #1 Commercial Real Estate Information Company” written in May of 2009:
Retail Space Availability Reaches All-Time High
The nation’s retail market posted negative quarterly net absorption for the first time, along with the highest vacancy and availability rates, since CoStar Group began tracking retail trends in 2000, according to the Bethesda, MD-based company’s first-quarter 2009 retail review and forecast.
CoStar’s research shows that the average days a retail space is listed on the market as “available for lease” has continued to rise — from 174 days in first-quarter 2006 to 370 days in first-quarter 2009…Unfortunately, CoStar is forecasting that the retail vacancy rate will continue to climb…Spivey showed that the average sale price per square foot has dropped from $235 to $125 since the recession started, while the average time a property spends on the market has increased from about 255 to 334 days.
CoStar forecasts that sometime in the next two to three years, the average retail cap rate could hit a level that is 400 basis points higher than where it was at the start of the recession. If that happens, the average cap rate would be around 11% (a high not seen since 1994), which would create better margins for buyers and should fuel transaction activity. Additionally, CoStar forecasts that the average sale price per square foot could go as low as 70% off pre-recession pricing and sales volume could end up as much as 90% off pre-recession activity, sometime in the next two to three years.
Okay, things are bad nationally but what about California? Here it is:
Spivey identified Los Angeles and Atlanta as having more excess retail inventory than any other markets…The markets with the largest first quarter increase in the average retail vacancy rate: Las Vegas (+154bps), South Bay / San Jose (+113bps), Baltimore (112bps), Inland Empire CA (+111bps), Southwest FL (+98bps), Phoenix (+94bps), Atlanta (+94bps), Sacramento (+89bps), Oklahoma City (+82bps), and Orange County CA (+82bps)…During first quarter, the markets that saw the largest net amount of retail space become vacant, as a percentage of total retail rentable building area (RBA), in order, were: South Bay / San Jose, Las Vegas, Inland Empire CA, Sacramento, Pittsburgh, Baltimore, San Diego, Phoenix, Oklahoma City, and Nashville.
That is the nature of the future of retail. But maybe you own apartments or industrial or office buildings. Then you know that as goes residential so goes retail so goes the rest of the commercial market. It’s one big game of follow the leader. While there has been relatively good news in the commercial sector until last year, the tide is currently changing.
Make no mistake; there is a problem, a big problem in the commercial real estate market similar to what just happened and is currently happening in the SFR market. Obviously you understand the need to be proactive in the face of this problem. The question we need to answer for you is why use California Property Tax Associates to assist you with this problem. What sets us apart from our competitors?
We Are Property Owners and Developers
At California Property Tax Associates we understand the problems of commercial property owners, managers and developers because our partners are commercial property owners, managers and developers. In addition to starting to work in the area of property tax appeals and reassessments in 1989, our associates have various past and current experience building residential development and commercial properties, as well as leasing experience as landlord and manager in the California property market. You will not be turning your property tax issues over to ‘form filers’ as many companies are, but to a group of people led by commercial property owners and managers experienced in owning and managing commercial properties. We understand this business from the inside.
And one more very important thing. Again to quote Andrew Florance, President and CEO of CoStar Group, “When the market is moving this rapidly you have to switch gears and look at it from a different angle.” He was talking about the fact that the Office Vacancy rate is not showing the real situation in the Office space sector. But his statement is much more far reaching.
Think Outside The Box
We hate to use this worn out expression but it is exactly what is called for in our current California Property Tax Assessment / Reassessment situation. The tried and true, follow the book procedures of the past need to be reinvented with each case. Can you get a loan like you could 2 years ago? Can you count on real estate appreciation like you could 3 years ago? Can you count on Chevrolet, Chrysler or Ford like you could a few months ago? The answer is a resounding NO! Neither can you approach a Property Tax Assessment Appeal case like you would have just a few years ago.
In the last year there have been many changes in the Assessment Appeals arena. Appraisal methods used for the past 14 years are being replaced with ’shoot from the hip’ thinking. To prepare for an Assessment Appeal in California Counties is in many ways like an unscripted debate, where common sense and proving ones case in real life are becoming more important than following ‘the rules’. That’s what Mr. Florance is saying above: “When the market is moving this rapidly you have to switch gears and look at it from a different angle.” And that’s what we do at California Property Tax Associates.
Experience, Knowledge and Common Sense
Our experience started in the last serious downturn in the market back in the early 1990’s. We worked within our knowledge of the Revenue and Taxation Code, the Assessor’s Handbooks and California Assessment Appeal procedures, and, based upon our extensive experience representing thousands of Clients and working Statewide, we developed strategies to maximize our Clients Property Tax Savings, Credits and Refunds.
The result? California Property Tax Associates is on the cutting edge ready to put our experience buying, building and managing real estate to work for you. We will represent you to reduce your property tax liability by using our experience and knowledge of the Property Tax Assessment Appeals system in California. And the best part to you? If you do not receive a property tax savings, credit or refund, you owe us nothing. No Savings; No Fee!
Contact us at (909) 867-5000 immediately with any questions or go to our Frequently Asked Questions page. Or if you’d rather, just click here to CONTACT US by email and we will call you. But don’t put this decision off; deadlines are rapidly approaching.
California Property Tax Associates (CAPTA)
“THIS ASSESSMENT REDUCTION FILING SERVICE IS NOT ASSOCIATED WITH ANY
GOVERNMENT AGENCY. IF YOU DISAGREE WITH THE ASSESSED VALUE OF YOUR
PROPERTY, YOU HAVE THE RIGHT TO AN INFORMAL ASSESSMENT REVIEW, AT NO
COST, BY CONTACTING THE ASSESSOR’S OFFICE DIRECTLY. IF YOU AND THE
ASSESSOR CANNOT AGREE TO THE VALUE OF THE PROPERTY OR IF YOU DO NOT
WISH TO CONTACT THE ASSESSOR YOU CAN OBTAIN AND FILE AN APPLICATION
FOR CHANGED ASSESSMENT WITH THE COUNTY BOARD OF EQUALIZATION OR
ASSESSMENT APPEALS BOARD ON YOUR OWN BEHALF. AN APPEALS BOARD HAS THE
AUTHORITY TO RAISE PROPERTY VALUES (BUT IN NO CASE HIGHER THAN THE
PROPOSITION 13 PROTECTED VALUE) AS WELL AS TO LOWER PROPERTY VALUES.”
The above disclaimer is required by AB 992. CAPTA is pleased to include it in our website as a remedy to the growing number of fraudulent companies seeking to take advantage of the continuing problems associated with falling real property values.
While CAPTA agrees with the above premise that the Assessor should reduce a property’s value if it is over-assessed, the magnitude of the work required to accomplish this task is not possible. As the need increases, the budget and staffing at the Assessors Office decreases. They simply cannot do more work with less people. That’s where CAPTA comes in.
California Property Tax Associates (CAPTA) is an expert in the field of Property Tax reduction relief . For many years we have saved thousands of Clients millions of dollars in counties throughout the State of California by representation before the Assessment Appeals Boards in the assessment reduction process. Our Associates who will actively work on our Clients portfolios include attorneys, licensed and certified appraisers, and past and present County Assessment Appeals Board Members.
California Property Tax Assessment Appeal Experience and Services
- 20 Years Experience Reducing Assessments County by County
- A History of Success Across Property Types (see rotating chart on right for recent reductions)
- Contingency Based Fee; No Savings, No Fee!
- CAPTA Does All The Work
- All Appraisal Work Required
- Informal Assessment Review Filing
- Negotiation With Assessors Office
- Formal Appeal Filing- If Your Appeal Is Already Filed By You Or Another Agent- We Can Still Represent You
- Negotiation With Assessors Office Prior to Assessment Apeals Hearing
- Full Representation at the County Assessment Appeals Board Hearing
- Future Year Assessment Appeal Filing Where Warranted
- Annual Property Tax Assessment Review to Ensure Lowest Possible Value
CAPTA is dedicated to educating property owners about their rights under the California Revenue and Taxation Code. Some of our associates have worked to provide assessment relief and reduce property taxes since 1989.
Our mission is simple:
- Enforce our Clients Rights under Proposition 13 and ensure they never pay more property tax than what they are required to pay after applying every conceivable reduction strategy allowed by law.
In most cases our fee agreement is simple as well: You, the property owner receive property tax savings, credits, or refunds–otherwise you don’t pay. There are never any up front costs and fees are only due once you have received official notification of your savings. NO SAVINGS-NO FEE!
Over the years our associates have handled cases for a variety of clients and interests which include restaurants such as Del Taco, Sizzler, Honey Baked Hams and Burger King, vacant commercial and residential land projects, shopping centers and retail properties such as Chino Town Center and Blue Jay Village Corp., hundreds of industrial buildings such as the GFS Airport Center located at the Los Angeles International Airport, hundreds of office and apartment buildings, and countless single-family residences Statewide.
CAPTA Can Help
Our team of agents and consultants have helped property owners get through tough times like these back in the 1990’s with property tax savings and even refunds. The California Property Tax Appeal system is difficult but fair overall, but accurate taxation is the responsibility of the property owner who has the greatest interest in establishing a fair market value.
CAPTA can give you Property Tax Reduction help and assistance. Now more than ever you need to protect your assets by making wise decisions in a depreciating market. CAPTA has the Agents, Consultants and systems in place and the experience you need to maximize your property tax savings and refunds. Regardless of whether you own residential property, apartments, retail, commercial, industrial or even vacant land, all real estate is subject to valuation for taxation by the County Assessors Office and should be reviewed for a reduction in value whenever possible.
CAPTA has provided answers to most of your questions throughout the pages of this site. Please feel free to browse our frequently asked questions (FAQ) section for additional information.
Ready to Get Started? There is no charge to begin and no fee is due until a reduction, refund, or savings is granted! If you would like to start the process and let CAPTA begin their investigation to determine the feasibility of receiving a reduction in your assessed value please call us immediately at 888-678-9TAX . But time is critical; deadlines vary by County.
Why California Property Tax Associates?
Welcome to the California Property Tax Associates commercial properties website. We dominate Commercial property tax reduction in this State with a long history of success! Click this link if you are seeking information concerning residential real property assessments.
We are the property tax experts in the State of California. We are not accountants or attorneys but many of our clients are, and yet choose California property tax Associates for good reason: we are one of the most successful companies working to reduce property tax assessments in California. Unlike our competitors, we think outside the box!
Why is it necessary to retain a leading edge company with forward thinking, a company that dominates in it’s field? Read the excerpt from an article written by attorney Eric Miethke about the property tax appeals process entitled “Why Taxpayers Hate the Property Tax System”:
“Most practitioners and property tax managers share a common bond: they feel that rather than being a system of adjudicating legitimate disputes, the property tax appeals process has become a system of rubber-stamping assessor values, even when those values are arbitrarily determined.
How could practitioners and property tax managers come to this conclusion? Simply stated, because it is the correct one. The property tax appeals system is inherently unfair, and is designed to provide maximum revenue collection and de minimus due process for taxpayers.”
So you see the need for a company with our kind of experience and thinking. Beginning 20 years ago our principals began working to reduce California property taxes in the form of assessment reduction and appeal throughout the state of California. In county after county, from apartments to commercial shopping centers, vacant land to industrial parks, we have been extraordinarily successful in reducing California Property Taxes for our Clients for only one reason: we think outside the box.
In the State of California property tax is determined under the provisions of Proposition 13 as delineated in the California Property Taxes Law Guide. Each county then has the responsibility to comply with these laws and are subject to audit to ensure compliance. But each county has its own interpretation of these property tax laws and does not need to follow the States guidelines completely. Therefore it becomes very important that county property tax reduction agents and consultants understand the possibilities in each given case.
California Property Tax Associates has vast experience throughout the different Counties in the State of California with a history of success. We use every conceivable strategy to secure the greatest possible reduction in assessed value for each of our clients. And, our experience is not limited to representing commercial property owners because we are real property owners and managers.
Our principals own and manage California real property as well as an international residential development project. We are landlords in our properties with tenants like 7-Eleven, Alberto’s Mexican Food, Dominos Pizza and ColdStone Creamery. We understand commercial property like no other property tax consultant or agent can.
Please go on the the next page for more California Property Tax Information or, to speak with one of our Consultants you may call (909) 867-5000 or (888) 678-9TAX. If you prefer, simply fill out the form below and we will contact you at your convenience. Deadlines vary by county, but for most counties it is November 30. Our costs and fee structure is simple: No Savings, No fee! But act now; once deadlines pass you have lost your right to appeal. Do not allow this opportunity to pass without beginning the process. Please call or write today. Don’t pay more California Property Taxes than you have to.
Comments or questions are welcome.
California Property Tax Assessment Reduction Specialists
California Property Tax law including the assessment of real property is different than every other state in the United States of America. This is a fact.
California Property Tax Associates-CAPTA, is different than every other property tax company in California. This is also a fact. What makes us different?
Outside the Box
At California Property Tax Associates-CAPTA, we have learned to think outside the box. Our business began in 1989, in the earliest stages of the last real estate market correction. At that time almost no one was in the business of property tax reduction, representing clients before the Assessor and ultimately, the Assessment Appeals Board. Property taxes were a necessary part of doing business and when the tax assessment bill came in, it was paid as an expense. Nothing more, nothing less.
Around the same time in 1990 property values leveled off and began to decrease. Property Taxes on the other hand continued to increase. We became very successful in reducing our clients values year after year. And in 1996, when the market was turning around we were again successful maintaining our clients values below the assessor’s opinion through the end of the decade. In fact, we were still in the business winning cases for our clients as evidenced by our 2001 assessment appeal case, when others had already left. We were there at the beginning, we were there in the hey day and we are here now. That’s experience!
If you own apartments GO TO OUR COMMERCIAL PROPERTY APARTMENTS PAGE.
If you own vacant land, commercial or residental GO TO OUR VACANT LAND PAGE.
Not Like Them
Them
Thinking outside the box means not accepting the status quo. Our business has changed dramatically over the years. The rules of yesterday are outdated. The county Assessor’s office personnel are overwhelmed with the workload. Many times they refuse to listen to reasonable arguments concerning the outdated methods they use for County property tax assessments. That requires the property tax company to give up and withdraw the appeal or fight for what is right before the assessment appeals board. Our clients will tell you that we are easy to get along with yet aggressive when it comes to the County assessments of their properties. Many of them are lawyers and accountants who have chosen to allow CAPTA to handle their portfolios. Why would a lawyer, accountant or doctor hire us to do the property tax reduction work?
Experience
At CAPTA our principals are business owners, developers and managers, having built commercial projects from the ground up as well as purchased existing projects. One of our principals has developed a luxury gated residential development in Central America. We are also landlords. Being a business owner, a property owner, a landlord and a developer, in addition to having a great deal of experience in this business gives us an edge over every competitor. And we put that to work for you.
Here are a few of the results we have obtained in the recent past:
|
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| Original | Reduced | Difference | Tax Savings | |
| Prop #1 | $37,696,450 | $28,714,000 | $8,982,450 | $93,795 |
| Prop #2 | $36,440,661 | $15,217,478 | $21,223,183 | $226,451 |
| Prop #3 |
$12,523,800 | $8,039,000 | $4,484,800 | $47,167 |
| Prop #4 |
$13,843,766 | $9,593,991 | $4,249,775 | $44,695 |
| $100,504,677 | $61,564,469 | $38,940,208 | $412,108 |
If you are looking for an aggressive California property tax assessment reduction company to handle real property, from your house to your complete portfolio, you owe it to yourself to contact the best. That is CAPTA-California Property Tax Associates.
Please take a moment and fill out the simple form below. If you have additional questions you may call us at (888) 678-9TAX or go to our Frequently Asked Questions (FAQs) page.
Comments or questions are welcome.
2009-2010 State of the California Real Estate Market
Map of California Counties
Updated November 2009 -The commercial real estate market indicators continue to slide as the market itself is held hostage to the ‘crisis management’ of the U.S. Government. Though we have seen recent encouraging improvement in the financial markets the future remains uncertain as financial gurus inside and outside the government continue to make decisions in an uncertain time with unknown consequences. Never has it been more important for you to protect the bottom line than it is today. As stated by Andrew Florance, President and CEO of CoStar Group, “When the market is moving this rapidly you have to switch gears and look at it from a different angle.” California Property Tax Associates is that angle.
California Commercial Property Tax System
California is the only state in America that, under Proposition 13 limits the fair market value the Assessor may place on the Assessment Roll each year. There are strict rules which must be followed to ascertain the Assessed Value initially and then likewise for adjustment each year. When commercial properties appreciate that is less of a problem for the property owner, but when commercial property values decline, reassessment is necessary. However, the Assessor is under no requirement to reduce values. Additionally there is widespread disagreement over what methods to use for commercial reassessment and revaluation. Lastly, the very office responsible to cut the property assessments is working under fear that lost revenues for the government (tax savings to you) results in job losses and budget cuts for them.
You need someone who can take the time to sort through the issues. Someone who has the experience and contacts necessary to get the job done, achieving maximum results. You need an expert.
Why California Property Tax Associates?
Simply stated, we are the experts in this business. For commercial property, whether apartments or office buildings, shopping centers or industrial, warehouse or distribution center, gas station or retail center, or even vacant residential development property we are the solution.
- California Commercial Property Experts
- Experience back to 1989
- Contingency based; No savings, No fee
- Assessment / Reassessment / Appeals
- Full service representation – just give us your parcel numbers
- We file all required forms
- We communicate directly with Assessors Office
- We analyze and prepare valuation of the property
- We negotiate settlement
- We attend appeal hearings if necessary to secure reassessment
- We follow the process to secure you a property tax savings, credit or refund
YOU DON’T PAY ANYTHING UNTIL YOU RECEIVE A PROPERTY TAX SAVINGS, CREDIT OR REFUND!
What kind of results can you expect from us? That depends on a number of factors. But we have secured reductions for our Clients, large and small in the past several months such as a 500+ unit Apartment Complex in Central California, assessed at $37.7 million and reduced to $28.7 million. A $9 million reduction. And a $93,000 increase in bottom line profits! Another Client with a property he didn’t think had an opportunity. We took it nonetheless and secured a reduction to $15.2 million–from an original assessed value of over $36 million–for an annual savings of $226,000.
Please call us immediately to begin the process at (909) 867-5000. Time is critical as once deadlines pass all opportunity is lost until the following year. If more convenient for you, please leave your contact information and we will be happy to call you.
Comments or questions are welcome.
