Big Tax Savings on Hotels in Sacramento

Posted on Apr 29, 2011 in County, Follow Our Work, Hotel, Sacramento County Property Taxes

Big Tax Savings on Hotels in Sacramento

Our Cloverdale office has been working on two hotel properties in the Sacramento area and has achieved some substantial tax savings for our clients. The first property is a 40 room hotel which was being assessed at about $2,500,000 for each of the 2009, 2010 and 2011 tax years. We were able to get a reduction for each year to $2,000,000 for 2009, $1,700,000 for 2010 and $1,600,000 for 2011. These reductions total about $2,200,000 in assessments resulting in savings and refunds to our client of about $24,000!

The second property is a 145 room hotel which was experiencing problems caused by some outdated rooms, the inability to utilize their restaurant facility and problems in the local market. This property was being assessed based on a market value of about $8,000,000 for each of the 2009 through 2011 tax years. Our agent provided data and analysis supporting a much lower value for all three years. The County Assessor agreed to correct the enrolled values for all three years.
For 2009 we agreed to a reduction from $8,015,000 to $5,570,000 resulting in a refund to our client of over $27,000.
For 2010 we agreed to a reduction from $7,990,000 to $3,900,000 resulting in a refund to our client of over $45,800.
For 2011 (yes, the fiscal year we haven’t even started yet) we agreed to a reduction from $7,990,000 to $3,700,000 resulting in property tax savings for our client of over $51,400.
That’s a combined savings of over $124,000!!! If you’re not yet a client of CAPTA’s – what are you waiting for????


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