Sure, we've done good work for our clients—many, like Toyota, have been with us for over 20 years and counting. The following is a list of clients and their written testimonials, or as we like to call them: "Attaboy"letters. Click any of the clients below to read their rave reviews of our services.
Commercial Property Being Redeveloped Tax Savings Over $400,000
An under-utilized shopping center was being redeveloped. During the redevelopment period several existing uses were discontinued, buildings were demolished, and new building were constructed. Over a three-year period we were able to obtain changes in valuation and classification which resulted in tax savings of more than $400,000.
Cost Model Not Appropriate
Tax Savings - $75,000/year
The assessor, using a computerized cost model, valued a large commercial development. The model did not accurately reflect the obsolescence and depreciation of the property. Valuation figures were adjusted to reflect the "real world", not the computer model, resulting in $75,000 annual savings.
Residence Valuation Reduced
to Less than Purchase Price
Tax Savings - $1,625
A wealthy client purchased a newly constructed luxury home for $5,432,988. The Assessor valued the property, for tax purposes, at $2,958,900. We were able to successfully reduce the valuation to $2,465,500, saving $1,625 in annual taxes.
Improper Classifications Corrected
Tax Savings and Refunds
of up to $240,000
Arizona has a complex classification system. There are numerous ways in which subtle, and sometimes almost undetectable, errors can creep in to the valuation of individual properties. Over the years Egroeg's wizardry (and his crystal ball) have uncovered numerous errors of many different types, saving current and future taxes, and in many cases obtaining substantial refunds - in one instance in excess of $240,000.
"External Obsolescence" Applied to New & Complex Industrial Facility
Tax Savings - $157,000
A newly constructed, special use, facility, designed and built to support an owner-specific manufacturing process, was acknowledged to have a "market value" less than replacement cost, resulting in a valuation reduction which saved $157,000/year in taxes.
Physical Improvements
Listed More than Once
Tax Savings - $808,000
A large, complex, industrial facility was being expanded. The assessor erred in "double counting" some of the improvements. A line-by-line review of the Assessor's detailed cost analysis of this 1,300,000 square foot property resulted in cost model adjustments reducing the annual tax by $808,000.
Loan Documentation Support
Future estimated property taxes are an essential element in securing commercial loans, and the tax amount affects the loan amount, and funds impounded by the lender. Because Arizona's valuations can be changed each year by the assessor, and since there are complicated issues surrounding parcel splits and re-valuations based on new construction and tax parcel splits, the estimation and documentation of future taxes is complicated.
We have supported many owners and developers in their documentation and explanation needs for lenders / underwriters, as well as for internal budgeting purposes by providing clear, succinct, supportable analyses of future tax obligations. A recent example assisted in the closing of a $35,000,000 loan, for approximately $3,000,000 more than initial underwriting would allow.
Agricultural Classification
Tax Savings up to 95%
Arizona's Statutes provide for obtaining and maintaining agricultural exemptions, even for property that is "pre-development", as long as a complex process of documentation and bona-fide active agricultural use is followed. The tax benefits can be up to 95% savings over non-agricultural classification of the same property. Since 1987 we have created and maintained agricultural and grazing exemptions for numerous clients, saving them millions of dollars in property taxes.
Non-Profit Exemption Status Secured
Tax Savings In Excess
of $3,000,000/ Year
The Arizona Constitution and Statutes provide for tax reduction and/or complete exemption of non-profit organizations which qualify under a series of narrow and very specific criteria. We have obtained many tax reductions and complete exemptions for numerous clients, including one landmark situation where the savings exceed $3,000,000 per year, on an on-going basis.
Time Share Resort Reclassification
and Valuation Changes
Tax Savings - More than $300,000
A multi-year program of classification and valuation adjustments resulted in current year savings and refunds exceeding $300,000.
Personal Property Audit Contested
Savings of Taxes, Penalties
and Interest - $151,675
The assessor audited the personal property in a major industrial installation, claimed incomplete reporting and assessed taxes, penalties and interest for four years. Our review of the audit, and contesting the proposed changes, including elimination of some items and re-classification of others, resulted in a substantial, on-going reduction of the alleged deficiency.
Golf Course Personal Property Adjusted, with Total Tax Savings & Refunds for 3 Years - $35,000
A golf course had been "self reporting" their personal property (as required by law). They did not take advantage of a number of obscure provisions in the law, and ended up substantially over-reporting and improperly classifying many assets. We audited the prior returns and submitted revised applications (for the current year and three prior years) resulting in a refund in excess of $35,000, and annual reductions going forward of over $7,000 per year.
