Coakley Realty Tax Appeals Difference
Coakley Realty, Inc. Announces the Successful Results of Major Real Estate Tax Appeals
One of the area’s leading real estate firms shares three recent local tax appeal case studies including a self-storage facility, hotel and car dealership
ROCKVILLE, MD — July 14, 2015 – Rory S. Coakley Realty, Inc. (Coakley Realty), a premier full service residential and commercial real estate company in the Washington D.C. metropolitan area serving Maryland, Virginia and Washington D.C., announces today the difference in utilizing highly experienced real estate professionals with tax appeal success and experience. Coakley Realty is the go-to-resource for saving real estate tax dollars and assuring you are only paying your fair share. This local, boots-on-the-ground knowledge provides an advantage over national tax appeal companies and law firms. Local real estate brokerage, management, ownership and appraisal activities are the keys to the advantage of utilizing Coakley Realty.
Local tax assessment offices are often understaffed, which can cause miscalculations. They often struggle to handle the thousands of properties they are required to assess. This can mean bad news for you; whether it is due to the assessor being unaware of specific conditions affecting a property or human error. In addition, there are numerous factors that can affect market value in a very short period of time and assessments must be monitored by the appropriate professionals on an annual basis as market values can change quickly from year to year. When there are problems with your real estate tax assessments, its money out of your pocket.
For more than 25 years, the highly experienced real estate professionals on the Coakley Realty team have been reviewing real estate tax assessments and giving educated and knowledgeable recommendations based on each situation as to whether or not a real estate tax appeal would be the right choice. As local real estate brokers, owners, managers and appraisers, the Coakley Realty team is knowledgeable about the region because they work and live here in addition to having access to data that may not be accessible for national tax appeal companies or law firms..
The Coakley Realty team continues to process hundreds of millions of dollars’ worth of real estate tax appeals. Their success with real estate tax appeals is evident through the tremendous number of retained clients and the strong referral base built from satisfied customers. Three recent local examples of Coakley Realty’s success with tax appeals include the following:
- Self-Storage Facility: Coakley Realty appealed an escalated assessment of a 100,000 square foot self-storage facility in Prince George’s County, MD. After taking the appeal to the supervisor level and then to the Property Tax Assessment Appeals Board (PTAAB), Coakley Realty reduced the assessment by 26 percent from $ 19,588,100 to $ 14,762,300.
- Hotel: Coakley Realty appealed a $17,650,00 assessment which was of a 59.7 percent increase in value of a 206 room hotel in Prince George’s County. The appeal was taken to the supervisor level and then to the Property Tax Assessment Appeals Board, who reduced the assessment by 10%, in turn saving the Petitioner $70,000 in taxes over a three year period. The Petitioner attended a hearing at the Maryland Tax Court for negotiation which resulted in a final assessed value of $13,200,000. This resulted in an additional tax savings of $149,000 over a 3 year period.
- Car Dealership: Coakley Realty led an appeal for a car dealership assessed at $20,818,200 which represented a 36% increase over the prior assessment of $15,304,00. The case was taken to the Property Tax Assessment Appeals Board (PTAAB), and then on to the Maryland Tax Court where it earned a reversal of the assessed value, saving the dealership tax dollars on over $3 million in property value.
“At Coakley Realty, we fight for our clients until they receive the fair and affordable tax assessments they deserve,” Rory Coakley, President of Coakley Realty stated. “It’s our mission to ensure that our client only pay their fair share of real estate
As a part of their service, before filing any real estate tax appeals, Coakley Realty provides a complimentary consultation to accurately review the real estate tax assessment. To learn more about Coakley Realty’s real estate tax appeals, please visit: https://www.coakleyrealty.com/tax-services/appeals/
About Coakley Realty
Founded in 1989, Coakley Realty is a premier full service residential and commercial real estate company in the Washington D.C. metropolitan area specializing in residential and commercial real estate sales and leasing, property management, asset management, tax appeals, appraisals and litigation support. Coakley Realty’s staff of experienced and knowledgeable real estate consultants their clients the best in real estate services and higher levels of expertise in analysis and negotiating skills. For more information, please visit www.twitter.com/coakleyrealty and on Facebook at www.facebook.com/coakleyrealty.