Success Stories

Henry Ford said, “You can’t build a reputation on what you’re going to do.” Anyone can make promises. But often, it’s past performance that offers the best indicator of future success. We have chosen a variety of client successes that we would like to share with you:

Office

• 330,000 S/F Corporate Campus located in Boulder County. We were able to demonstrate the owner had very high capital expenditures to off-set extreme vacancy and that the Assessor rents were too high.
  • $13,200,000 reduction in value for two years of 2017 and 2018 with an additional $6,000,000 reduction for 2015 and 2016. Our efforts for the client resulted in a total tax savings of $1,100,000.

• 60,000 S/F Medical Office located in Boulder County.
  • $3,900,000 reduction in value for 2017 and 2018.
  •  Our efforts for the client resulted in a total tax savings of $330,000.

Industrial

• 1,000,000 S/F Warehouse/Distribution center in Denver owned by a national grocer. Through the market approach and income approach we demonstrated a lower value.
  • $3,300,000 reduction in value each year for three years. Our efforts for the client resulted in a total tax savings of $550,000.

• 176,000 S/F Flex-Warehouse, Inverness, Douglas County. We were able to demonstrate the owner had very high capital expenditures to off-set extreme vacancy and that the Assessor rents were too high.
  • $3,974,000 reduction in value for two years. Our efforts for the client resulted in a total tax savings of $245,600.

Retail

• 215,000 S/F Shopping Center in Fort Collins.  We were able to demonstrate that the Assessor used rental rates that were not supported by the market.
  • $13,300,000 reduction in value for 2017 and 2018.
  • Our efforts for the client resulted in a total tax savings of $710,000.

• 160,000 SF Shopping Center in Broomfield. We were able to demonstrate that the Assessor used rental rates that were not supported by the market.
  • $1,600,000 reduction in value over two years and an additional $1,500,000 reduction in value for the prior two years. Our efforts for the client resulted in a total tax savings of $140,000.

Apartments

• 436 unit Apartment Building in Thornton: Presented more similar sales demonstrating a lower price per unit.
  • $17,600,000 reduction in value for each of two years. Our efforts for the client resulted in a total tax savings of $392,000.

• 384 unit Apartment Building in Denver. The Assessor.s property Quality Grade was highly inaccurate. We presented the property’s actual condition accompanied by sales of similar properties to demonstrate a significantly lower value.
  • $7,000,000 reduction in value and an additional $4,000,000 reduction in value for the prior two years. Our efforts for the client resulted in a total tax savings of $160,000.

Land

• 35 parcel Residential Subdivision, Jefferson County. The Assessor had used high price sales comparables that were not similar in location, size and amenities to the subject.
  • $2,860,000 reduction in value for one year. Result for the client: Our efforts for the client resulted in a tax refund of $95,000.

• 250 parcel Residential Subdivision in the Rocky Mountain foot hills, Douglas County: We demonstrated that the comparable sales were too high and that the Assessor’s Present Worth sell-off period was unrealistically too fast.
  • $23,000,000 reduction in value for two years. Our efforts for the client resulted in a total tax savings of more than $1,775,000.