Sacramento County Property Tax Reduction
We were appealing the assessed value of a 2.3 acre commercial site with an older, 3 tenant retail building that fronts the main street and a older single family residence behind it in Sacramento County. The back of the lot, which is unimproved, is considered excess land. The first year’s enrolled value was $1,795,000 and the next year’s enrolled value was higher at $1,808,000. It looks like this value would have carried forward to the next tax year if we had not successfully appealed. After comparing sales and income approaches as well as discussing the various methods of estimating the separate value of the excess land our agent and the assessor agreed that a more reasonable value for the first year was $1,055,000. We also agreed that this value could be applied to the subsequent tax year. The assessor agreed to carry this value for the upcoming tax year as well. The combined market value reductions calculate to about $2,245,932 which will save our client almost $25,000 in property taxes over three years.