Mandatory audit. By law, the top 75% owners of business personal property in each county in California are audited every four years. This is a great opportunity to correct any over assessment. The data request from the assessing agencies is typically quite extensive. It is imperative that the data to be submitted is prescreened to ensure relevance to the assessor’s discharge of official duties. If a deficiency is found in a particular year, a personal property appeal can extend to the value of real property, if personal property is assessed together with real property on the secured tax roll.
Location Advantage. Experienced property owners know the secret of hiring a local consultant: we produce better results. Local agents know the assessor's staff, we know the market, and we know members of the Assessment Appeals Board. Appraisal is an opinion of value, and such an opinion of value is more credible if it comes from a reputable, well-known local firm.
Experience Advantage. ITR prides itself as being a firm with extensive experience in complex appraisals such as:
- Valuation of intangible properties
- Shopping centers
- Hotel and golf courses
- Mixed used properties
- Properties in temporary, transitional use
- Unique high-end commercial and residential properties
How do you know you hired the best consultant? The best consultants produce the best results. Owners are typically satisfied if a consultant produces a refund. Nevertheless, they do not know if it was the largest refund possible. During the last economic down cycle, many properties were appealed on the same lien date, providing the opportunity to compare results of Proposition 8 (temporary decline in value appeals) in San Francisco. Our study indicates that on average, local consultants produced values that were lower than consultants from out of town by a significant margin.
Trusted advisors. Almost 100% of our new business comes from referrals from clients and other real estate and legal professionals. When a client or other professional firm refers their clients to ITR, they are putting their own reputation on the line. We are very proud of the trust and confidence we have built with our colleagues and peers in the industry, and we are committed to honoring that confidence. We pledge to provide high quality services and strong results so our clients are satisfied and our work reflects positively on the companies and professionals who refer us.