One more great success in Sacramento County. This is another apartment complex, this time just over 140 units. The complex has a great location, and itself is in very good shape with larger units and great amenities. We had secured a great reduction in 2008 that unfortunately the County did not carry forward to 2009. In 2009 the complex was assessed at over $25,000,000 or $173,000/unit.
Today we were able to work our reductions on 2009 AND 2010, which is very helpful to our client as he will see refunds for both years sooner than has been the process on other properties. For 2009, the value we were able to achieve through our filed application for changed assessment was $19,500,000 or $133,000/unit. This single year reduction will result in a refund to our client of over $65,000! For 2010, the value was reduced further to $17,200,000 or $117,000/unit, resulting in a single year savings of over $91,000.
In three years, this client has saved over $200,000 as a result of CAPTA’s work!!!