The Process Works: 27% Increase Reduced to 6%, Then Less Than 1%
The Bottom Line
Why choose a turn-key, comprehensive approach like Pinnacle, built on the ability to exhaust every avenue for relief? Because a strategy that requires midstream cost/benefit decisions and multiple rounds of capital investment can undermine decision-making and warp an owner’s perspective of what constitutes a good deal.
Prior Year Value:
$46,250,000
Initial Value:
$58,507,396
ARB Value:
$49,134,000
Final Value:
$46,700,000
“Pinnacle consistently provides tax savings that would have never been recovered using a more traditional approach.”
“Pinnacle consistently provides tax savings that would have never been recovered using a more traditional approach.”
NOI is at its highest when property taxes are at their lowest – period. By eliminating midstream cost/benefit decisions, Pinnacle consistently provides tax savings that would have never been recovered using a more traditional approach.
— Jonathan Gilstrap, Pinnacle Property Group
The Client
Cortland Partners is a multifamily acquisitions, renovation and development company with properties in 10 states. Cortland’s collective experience stretches beyond 85,000 living spaces and $8 billion in real estate activity.
The Results
The reduction obtained at ARB was the result of a Market Value analysis based on market rent, occupancy, and cap rate review, coupled with an Equal & Uniform analysis based on the tax assessment of comparable properties.
On appeal in district court, the evidence did not magically improve; instead, this further reduction was the direct result of the process Pinnacle applies across its portfolio.