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Project Description: Property Tax Appeal for 34,000 sq. ft. Mixed-Use Commercial Property

Service Provided: Valuation Services, Expert Testimony at State Tax Court

Client Since: 2016

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The Client

Private Real Estate Investor

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The Challenge

To determine whether the property tax burden on the property over a 5-year period was excessive and warranted a reduction.

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The Solution

Otteau Group prepared an appraisal valuation of the property for 5 separate years indicating the municipal tax assessments to be excessive and warranting a reduction in property taxes. This case then proceeded to trial in State Tax Court at which our appraiser provided testimony as an expert witness.

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The Result

The court ruled in favor of the client’s tax appeal and reduced the tax assessments and property taxes for all 5 years under appeal, and then froze that assessment for an additional 2-years. After the case was concluded, the municipality contacted Otteau Group and asked if we would work for the City in the future on tax appeal matters. They remain a client of ours today.