Success Stories
Case Studies/Industries
We have a long history of customer success stories successfully filing tax grievances on behalf of our customers in NY and achieving huge reductions and property tax refunds. We represent large companies such as Newsday/ Times Mirror, Pepsi, Hilton Hotels, Ford Motor; CVS, Goodyear Tire, IHOP, as well as large real estate owners including First Allied REIT and Wharton Properties.
Below are some examples of our successes, and client testimonials.
Big-box retailer
Our client was a big box retail chain based in the Northeast United States. Realty Tax Challenge contested the value of their +/-145,000 sq. ft Long Island retail building that sold for a premium, more than twice the assessed value placed on the property by its County, due to the purchaser being the tenant. RTC’s involvement resulted in the County’s reassessment of the property to not only overlook the inflated purchase price but also reduce the current assessment by 25% generating a high six-figure tax benefit.
Self-Storage Facility
On behalf of a national self-storage brand in Westchester County, Realty Tax Challenge helped convince the city to disregard development costs and discount the actual reported income to deduct non-realty components, resulting in 30% assessment reduction.
Nursing Home
Realty Tax Challenge successfully represented a large nursing home operator, and helped convince a Westchester County municipality to disregard the $25 million purchase price which included the operations of the facility. This resulted in a 50% reduction in the property assessment and a tax refund of over $1 million.
Large Retail Center
RTC represented a national real estate firm that purchased a shopping center as part of a mall portfolio. We provided evidence that the property was over-assessed for many years. The high purchase price was due to the portfolio sale and was indicative of the value of the specific building. This secured a tax refund of over $9 million.
Realty Tax Challenge has successfully reduced the property taxes for properties in a wide range of industries, including:
Golf Courses
Hotels
Warehouses
Car Dealerships
Multi-family Residences/ Apartment Buildings
Assisted Living Facilities/ Nursing Homes
Self-Storage
Facilities
Other Managed
Properties
Client Testimonials
We have a long history of customer success stories successfully filing tax grievances in NY and achieving huge reductions and property tax refunds. Here are a few testimonials and examples of our successes.
Ready to Get Started?
Speak With a Real Estate Tax assessment consultant Today.
Call us at 914-348-9473 or fill out the contact form to begin the process.
We can answer any questions you have, and get you started on the assessment process to obtain you the maximum tax incentive or relief available to you!
Realty Tax Challenge represented a large hotel. The tax assessor used a valuation model that did not identify nor quantify depreciation and obsolescence. RTC detailed the fee simple value based on all physical, functional and economic obsolescence. The assessor accepted the analysis and SUBSTANTIALLY reduced the valuation.