PVS reduced the assessment by $25M, from $86.4M down to $60.4M, resulting in $204,918 in tax savings for our client.
Corporate Office Campus Saves $204,000
Executive Summary
In their property tax appeal, PVS represented an expansive corporate office campus in Fulton County, GA. The campus contained a gym, restaurants, wellness center and parking garage, valued at over $86M.
Challenges
The property was developed for over $100M in 2017. The county backed into the development costs using an erroneous income approach model without accounting for multiple floors of shell space.
How PVS Helped
Representing the owner in their appeal, PVS presented evidence of low income and high occupancy and proved that the property was overbuilt, containing multiple floors of unfinished
shell space not accounted for in the county’s analysis.
Results
Through evidence exchange and negotiations with the county, PVS reduced the assessment by $25M, from $86.4M down to $60.4M, resulting in $204,918 in tax savings for our client.
