Aggressive, end-to-end strategy translates to $29M reduction for AMLI.
The Bottom Line
Exhaustive protest and appeal expertise is crucial to any serious property tax management strategy.
“…this is fantastic news!”
“…this is fantastic news!”
…this is fantastic news! Thank you for your efforts thus far. Definitely meeting our expectations! Look forward to seeing how you can do on [our other properties].
— Senior Vice President of Asset Management, AMLI Residential
The Values
AMLI Design District
| 2016 Value: | $82,400,000 | |||
| 2017 Value: | $97,000,000 | 17.7% | ||
| 2017 ARB: | $90,000,000 | 9.2% | ||
| 2017 Settlement: | $80,000,000 | (2.9%) | ||
AMLI Quadrangle
| 2016 Value: | $42,500,000 | |||
| 2017 Value: | $55,000,000 | 29.4% | ||
| 2017 ARB: | $49,500,000 | 7.0% | ||
| 2017 Settlement: | $43,000,000 | 1.2% | ||
The Client
AMLI Residential is a multifamily development, acquisitions and management company with properties in nine of the largest U.S. markets. Their portfolio comprises over 20,000 apartment homes, many among the most recognizable in the country.
The Results
At ARB, AMLI’s Design District property saw an 8.5% reduction and their Quadrangle property saw a 22.4% reduction. While these results are great by most standards, our evidence suggested there was more to be had. Because the cost of appeal is included in our contingent fee, there was no additional risk involved to appeal the ARB’s decision, resulting in a significantly better outcome for AMLI.