San Diego Shopping Center Reduction

Posted on Apr 29, 2011 in County, Follow Our Work, Retail, San Diego County Property Taxes, Shopping Center

San Diego Shopping Center Reduction

This is a good property tax reduction story. The subject property is a 33,000+ square foot shopping center in La Mesa (San Diego County). The owner came on board with CAPTA back in 2008 and had an assessment of just under $8,900,000. Unfortunately, given the restraints of thousands of appeals filed in the County, San Diego was not ready to discuss this property until early 2010. At that time, given the case we set forth to the County we were able to work out a reduction for the 2008 and 2009 years to $7,300,000. This resulted in refunds to our client of over $36,000!
Thinking that we had done all we could do, our client cancelled our services for the upcoming years. This is unfortunate because it can easily delay the already lengthy process. However, after seeing that the 2010 year was set at the trended base year value of now over $9,000,000 they realized it was a safer, smarter move to have representation from CAPTA. We filed the 2010 application for changed assessment with the County last year, and now, were able to work out some far greater reductions!
For the 2010 year, we were able to prove the assessment was too high by $3,580,000 (a 40% reduction)! This will result in a refund to our client of over $42,000.
Wait – there’s more!
For the 2011 year (yes, the year we haven’t even hit yet), we were able to prove a further reduction to $5,000,000! And, we still have the right to appeal that value and try to reduce it further. In 2011 alone, our client will save well over $46,500!
So for four years, our client will have saved over $124,000! Why is this a great story? First off, it goes to show that if you don’t have CAPTA behind you, you won’t get near the result (if any!). And of course, its great that this client will have improved his cash flow by over $30,000/yr.


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