Is the FL property appraiser taxing your apartment complex like the queen's country palace? Your office building like the London tower? COMMERCIAL PROPERTIES ARE OUR FOCUS!
Owners of commercial property and land have a high stake in assuring they are not overtaxed, after all, a $1M assessment equates to +/- $16,000 (based on average, non-city millage rates) in annual taxes! Because many of the property appraiser's commercial assessments are based, by necessity, on incomplete data and minimal analysis time, you owe it to yourself to get a property tax checkup from TaxCuts1. We can review your assessment via all 3 approaches to value: the income approach, the sales comparison approach and the cost approach.
Although TaxCuts1 focus has traditionally been on commercial property appeals, upscale residential properties have been the source of an increasing number of recent appeals. Contact us for more details on cutting commercial property and land property taxes.
2018-19 Noteworthy Highlights:
1) Lee County retail center: $2.5M value cut; 2) Barrier island gulf-front home: reduced $9.1M to $8M; 3) Fort Myers direct access home: value adjustment of $1M; 4) South county restaurant: decreased $800,000; 5) Olde Fort Myers riverfront: lowered $1.1M; 6) Auto dealership: $600,000 value savings; 7) Waterfront acreage: $550,000 cut.
TaxCuts1 scored 11 significant reductions in 2017: including 2 $1M+ Cuts. For the first time in 14 years a majority of our appeals were residential. Among our most prominent property tax appeal accomplishments in 2017 were a special purpose recreational facility that was cut by $1M+ and an older apartment complex in South Fort Myers which was reduced by $1.2M. Thanks also to our upscale residential property owners, many of which were waterfront, including a $900,000 riverfront home reduction.
TaxCuts1 Is Often Asked About Our "Batting Average." It Is High Because We Choose Our Battles. 2016 Was A 1st For Us, However, 100% Tax Cuts Obtained. Fewer Cases, Better Results. Hmmm, May Have To Try That Again Next Year! One case stood out for us in 2016, another Gulf-front hotel, hotels being perhaps our favorite commercial property strata to work on. This one was reduced from $16.8M to $13.7M. Another loyal, repeat client whom we are most appreciative of.
2015 Was a Remarkable Property Tax Season With 4 $1M+ Reductions Obtained and Our Largest Ever Reduction: a $16.7M Cut. 1. Senior Living Record Reduction: this south Lee County senior living facility benefited from a valuation reduction from $87.7M to $71M, based largely upon recalculation of an appropriate cost approach analysis of building value.
TaxCuts1 is pleased to announce notable tax year 2014 property tax REDUCTIONS, including: 2014 was a quieter than normal property tax season as to the volume of appeals. Victories were notched across several counties for a variety of commercial properties, including: 1. $1M+ office complex: 27% reduction; 2. $1M+ vacant land: 18% tax cut; 3. Hendry County self-storage facilties: 24% and 22% drops; 4. Glades County commercial land: $456,000 and $335,000 assesssment cuts.
TaxCuts1 Obtained Large 2013 Property Tax Reductions For Numerous Commercial and Upscale Residential Properties As Well.
2012 Notable Property Tax Results By TaxCuts1: TaxCuts1 is pleased to announce notable tax year 2012 property tax victories, including: 1. Gulf-front Timeshare: reduced from $7.5M to $4.8M; 2. Gulf-front Hotel: $1.9M valuation reduction; 3. Fort Myers warehouse: cut from $1.3M to $700k; 4. Sanibel home: $300k reduction. Thank to our valued clients fot the opportunity to CUT YOUR TAXES!
2011 SW FL Petition Results TaxCuts1: TaxCuts1 spotlights its top 2011 property tax cases, as follows: 1. North Fort Myers riverfront hotel reduced from $3M to $1.8M: a 40% reduction! 2. Fort Myers office warehouse: $661,000 in value removed from tax roll; 3. Riverfront home Fort Myers: $754,000 of value removed; 4. Captiva Condo: $680,000 reduction; 5. Naples office/retail: $573,000 in valuation savings. We thank our valued clients for the opportunity to CUT THEIR TAXES!
The Fort Myers-based property tax consulting and appeals brokerage firm with its Lee County Value Adjustment Board petitions results for assessment reduction or percentage of taxes cut, include: • Bonita Beach Waterfront lots: $4,000,000 to $1,300,000 (67.5% reduction). These five contiguous bayside lots were assessed and met the definition of an arm’s length transaction and was the best indicator of value; • Fort Myers downtown office building: $1,739,760 to $1,157,000 (33.5% cut). TaxCuts1 demonstrated that income applied by the LCPA in assessing this building exceeded rents; Bonita Springs non-anchored retail: $1,648,833 to $1,070,444 (35% decrease). Property was wrongly classified by the LCPA as ”anchored” • Fort Myers warehouse: $1,338.647 to $1,087,630; • Fort Myers offices: 34% reduction.
2009: Big Tax $ Savings Achieved On Wide Ranging Commercial Parcels: Gulf-front hotel (above) was one of TaxCuts1's numerous 2009 tax reductions. TaxCuts1 was gratified to achieve another solid docket of property tax reductions for its valued clients during the hard-fought 2009 tax year. Cases and tax cuts of distinction included: *Fort Myers Beach gulf-front hotel-substantial tax savings obtained; *100 residential condo units with average drop of $20,000/unit; *Flex warehouses (Metro-area): major reductions; *Fort Myers Beach strip center tax cuts (in conjunction with Neal Scott, MAI); *Bonita Beach 5 bayfront parcels-large savings achieved; *Cape Coral Bank/offices assessment reduced; *Numerous acreage parcels reduced.
2008: Profitable Results For TaxCuts1's Clients. Marinas are a TaxCuts1 focus: Taxcuts1 posted favorable results on 2008 assessment appeals. SW FL assessment reductions were obtained on a wide range of commercial strata, including restaurants, boat slips, car washes, apartments, shopping centers, condos, industrial flex space and vacant land.
TaxCuts1's Hard Fought 2007 Petition Results: Property tax dissatisfaction in 2007: the numbers of petitions filed doubled in Lee and Collier counties as taxpayers sought relief from the crushing property tax burdens by 2007 assessments based largely upon sales occurring at the peak of the market. TaxCuts1 obtained favorable tax year 2007 assessment reductions on a variety of property types, including marinas, apartment complexes, offices, land, single family homes, and mobile home parks. Professional assistance has become almost mandatory for successful appeals as the % of successful appeals has become alarmingly low for the typical appellant.
TaxCuts1's Successful 2006 Petition Results: *Fort Myers Low Income Tax Credit, Apartment Complex: demonstrated that the Property Appraiser was obligated to apply the actual income and expenses in its assessment, thereby reducing the value from $8,642,880 to $5,085,003. *Hotel-Sanibel Gulf-front : assessment reduced from $15,919,730 to $12,028,390, based upon application of the income approach to value; *I-75/Corkscrew Road Interchange Area Owner-Occupied Building: cut the assessment of this cost-approach assessed building from $1,755,380 to $1,265,330;
TaxCuts1 Announces Notable 2005 Commercial Property Tax Reduction Results TaxCuts1, Inc., was pleased to announce its' tax year 2005 property tax petition results. These commercial property tax assessments through informal discussions with the Property Appraiser, as well as through the Value Adjustment Board hearings. Notable tax reductions achieved include: *Fort Myers Beach Marina: obtained a total assessment reduction from $13,216,970 to $7,544,450, based upon land value analysis.
2004 TaxCuts1 Results Unprecedented! TaxCuts1 was thrilled with its 2004 property tax appeal record of 13 wins, 2 losses, a "batting average" of .866!! These 13 properties included 2 riverfront homes, 2 Boca Grande residences, 5 Fort Myers Beach gulf-front or water-front parcels, an Estero golf course mansion, a gulf-front hotel and two apartment complexes.
TaxCuts1 2003 Results: SUITE TALK MAGAZINE July/August 2004 edition TaxCuts1 Reports Final 2003 Property Tax Reduction Results TaxCuts1, Inc., a Fort Myers-based property tax consulting & appeals firm, recently reported its' results for tax year 2003 in Lee County, finalized on 3/16/2004. TaxCuts1 focuses on cutting commercial property tax assessments through informal discussions with the Property Appraiser, as well as through the Value Adjustment Board petitioning process (which commences again beginning July 1, 2004). Tax reduction highlights include: * Hotel-Sanibel Gulf-front : assessment reduced from $10,889,620 to $9,204,970., based upon income valuation approach; *RV Park In Fort Myers Beach Area: assessment value reduced from $4,638,660 to $3,710,920, based upon income approach; *National Builder-Owned Estero Subdivision Lots-: 111 subdivision lots assessments were cut by +/- $2.1 million, based upon the sales comparison approach (in conjunction with Steve Hartsell, Esq.); *College Parkway Fort Myers Class "A" Office Building: taxable value reduced from $4,958,060 to $4,617,500 via income valuation; * Hotel On The Caloosahatchee River: assessed value was cut from $3,050,180 to $2,768,600 based upon income and secondary valuation; *I-75 Interchange Area Commercial Lots: cut assessments values of lots located just behind the front outparcels. Reductions were based upon sales comparison study indicating that such secondary parcels sell for only 50% of the sales price/sf of the frontage parcels (in conjunction with Leo Salvatori, Esq.). *South Lee County Publicly-Traded Builder/Developer's Vacant Lots : 26 assessments were cut by an avg. of $11,000. per lot (in conjunction with Steve Hartsell, Esq.); * Upscale single family homes on Sanibel, Captiva, Boca Grande & Riverfront: assessments reduced by varying amounts; *North Fort Myers Signature Development: total pre-construction taxable values were cut from $6.8M to $5.48M (in conjunction with Steve Hartsell, Esq.); Mike Hagen, owner of TaxCuts1, Inc., is a real estate broker & attorney and is available for consultation concerning any SW FL property tax assessment. For more information, please call him at 239-275-0808, or email.
TaxCuts1, Inc., Cutting YOUR Florida Property Taxe
5290 Summerlin Commons Way, Ste. 1003, Fort Myers, Florida 33907
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