TaxCuts1 Announces Notable 2005 Commercial Property Tax Reduction Results
TaxCuts1, Inc., was pleased to announce its' tax year 2005 property tax petition results. These commercial property tax assessments through informal discussions with the Property Appraiser, as well as through the Value Adjustment Board hearings. Notable tax reductions achieved include:
*Fort Myers Beach Marina: obtained a total assessment reduction from $13,216,970 to $7,544,450, based upon land value analysis;
*Fort Myers Low Income Tax Credit, Apartment Complex: demonstrated that the Property Appraiser was obligated to apply the actual income and expenses in its assessment, thereby reducing the value from $8,642,880 to $5,085,003
*Hotel-Sanibel Gulf-front : assessment reduced from $15,919,730 to $12,028,390, based upon application of the income approach to value;
*I-75/Corkscrew Road Interchange Area Owner-Occupied Building: cut the assessment of this cost-approach assessed building from $1,755,380 to $1,265,330;
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