The Appraisal Review board ruled in thetaxpayer’s favor and reduced the market value from $123M to $108M without litigation, saving the taxpayer $380,000in taxes.
Acute Care Hospital Saves $380,000 in Taxes
Executive Summary
Property Valuation Services represented an over-built acute care hospital before the County Appraisal Review Board, earning a favorable ruling for the taxpayer without litigation.
Challenges
Nearly four floors of extra shell space had been constructed on the top of this hospital by the previous owner for anticipated future use, which increased the property’s tax valuation and tax burden.
How PVS Helped
Representing the subsequent owner of the hospital, PVS argued that this shell space was not
needed for the size and demand of the current market, and that it would not add value to the
hospital if sold.
Results
The Appraisal Review board ruled in the taxpayer’s favor and reduced the market value from $123M to $108M without litigation, saving the taxpayer $380,000 in taxes.
