“PVS reduced the assessment of an 83,000-square-foot distribution warehouse by $3.6 million, securing $89K in property tax savings through proactive collaboration and expert valuation methods.”
Saving $89K for a Distribution Warehouse in Wisconsin
Executive Summary
In 2023, PVS successfully reduced the assessment of a large distribution warehouse in Kenosha County, Wisconsin, after a dramatic and unfounded increase during a standard revaluation.
Challenges
The 83,000-square-foot warehouse experienced a 74% increase in value during Kenosha County’s annual revaluation, jumping from $6.6 million to $11.5 million. PVS faced the challenge of addressing this sharp increase in a market with limited comparable properties due to the warehouse’s unique size, location and use.
How PVS Helped
PVS initiated an appeal and proactively collaborated with assessment staff ahead of the formal hearing. By presenting a comprehensive income and cost approach, backed by actual lease and property data, PVS successfully demonstrated the inflated valuation.
Results
PVS reduced the property’s assessment by $3.6 million, securing $89,520 in property tax savings for the client.
