Thanks to Share Gilbert & TICOR Title

Prime Property Tax Negotiation sends a sincere “Thank you!” to Share Gilbert and TICOR Title.  Share invited Prime PTN’s Scott Phinney to be a Guest Speaker for TICOR’s Continuing Education Series for Commercial Brokers.  (Share’s a bit of a business Talent Scout:  She also plays a key role in arranging speakers for the local CCIM Chapter as well.)

TICOR is noted for doing a great job with bringing in good speakers…the session was heavily attended and close to standing room only.

Scott’s presentation was focused on how by assisting clients with their property tax appeals agents deliver real value and create loyalty. One of the examples Scott used was how a struggling multifamily property was losing a small amount of money each month.  (NOI was a little less than debt service.)  By challenging the taxes and prevailing, the taxes were reduced $130,000 year.  That was enough to put the project in the black and cash flow $9,000 a month.  The question that needs to be asked:  “What kind of loyalty could you earn if you ended their losses and traded that for making $9,000/month?

TICOR offers more than great Continuing Education Classes…they have the full spectrum of residential, commercial, land development and builder services.  From dirt to doorknobs…think TICOR.  Contact them at http://www.ticorpdx.com or (503) 242-1210

If you’re an agent that wants to learn how to help your clients, or a property owner that would like more information…please contact us at 503.577.1034 or info@primeptn.com.

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Property tax reduction victory in Oregon

We have a very happy motel client…he’s getting a Property Tax refund back from an Oregon county…for $25,000. The hospitality industry has taken a real beating the last 4 years.  Business and pleasure travel has dropped precipitously, while expense growth has continued unabated.  The greater problem is that investors have been asking for a premium to invest in motels.  This takes the form of rising cap rates.  The net effect is hospitality investors had smaller Net Operating Incomes…and the value of asset per dollar of NOI dropped too.  Prime PTN actually lowered the assessed value of the subject asset by $1,695,000…and the savings will continue for years.

I should  point out that to get our client this refund we used our in house knowledge of property values…an expensive third party appraisal was not required.   (In some cases an appraisal makes sense…we always consult with our client before ordering them, however.)

How much money can we save you?  Well nothing is guaranteed…but contact us at info@primeptn.com for more information. Or you can call 503.577.1034.

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