Case Study

rpc financial

RPC Property Tax Advisors has completed over a thousand property value assessment reduction cases representing billions of dollars in assessed values and tens of millions in property tax savings.

Following are just a few examples of RPC’s results:

Multi Family / Apartment Properties

588 Unit Multi-family Project; Riverside County

  • Property owner had filed a property tax assessment appeal.
  • After more than a year, the owner was not getting any tax relief from the County Assessor.
  • RPC was asked to handle the tax assessment appeal.
  • After only six months, largely due to its extensive familiarity with county personnel and case processes, RPC Property Tax Advisors was able to negotiate a reduction for both 2008 and 2009.

RPC’s 21 years of working with the various county assessors’ offices and establishing solid working relationships enables RPC to provide exactly what’s needed to reduce tax assessments in the fastest manner possible. Nobody can get it done better.

Taxes Saved: $348,000

212 Unit Apartment Purchased for Condo Conversion; San Diego County

  • Developer paid a premium; commenced conversion, evicted tenants and made physical improvements.
  • Conversion was not completed due to deteriorating market and lack of sales; began re-rental program.
  • The property assessed value reflected the premium purchase price plus value of “condo” improvements.
  • As a rental, due to the significantly higher vacancy and re-occupancy expenses, RPC was able to demonstrate to the assessor’s office that their calculation of Net Operating Income was significantly overstated and a reduction in the assessed value was granted.

Taxes Saved: $220,000

124 Unit “Fractured Condo” San Diego County

  • Property Value Assessment for entire project reflected sales of first units in project which stalled due to market.
  • Project reverted to multi-family rental.
  • RPC achieved reduction in assessed value due to corrected valuation as rental property.

RPC’s 21 years of expertise in this space has led to the development of the best models for income analysis that complies with the SBOE assessment standards. The assessors’ appraisers appreciate RPC’s methods and detailed analyses which allows them to stipulate to the lowest assessed values possible. Nobody can get it done better.

Taxes Saved: $133,434

Business Personal Property & Fixtures (FF&E)

Heller Ehrman Law Firm; San Francisco County

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  • One of the largest law firm bankruptcies to occur in the US.
  • County submitted bill in excess of $275,000 to the trustee for business property taxes due to prior year’s records.
  • Specific records were missing or not available.
  • RPC filed a business/personal property tax appeal.
  • RPC researched the bankruptcy and discovered relevant records to enable an 82.5% reduction in the tax.

Taxes Saved: $227,000

RPC Property Tax Advisors achieved the significant reduction as a direct result of errant prior-years’ Form 571 filings and numerous listings of non-existent FF&E. The investigation provided by RPC’s Business Tangible Property experts resulted in a very quick (approximately 30 days) correction in the tax rolls and the resultant reduction in liability to the estate. Let RPC handle your business personal property filings, audits and appeals. Nobody does it better.

Click here for a no obligation review of your business personal property tax savings potential.

 

Business Personal Property & Fixtures (FF&E)

Rubio’s Restaurants; Orange County

Rubios-Mexican-Grill

The history of Rubio’s is a classic love story. Man meets fish taco. Man eats fish taco. Man falls in love with fish taco. Such was the case for Ralph Rubio, co-founder of Rubio’s. As a college student, Ralph made regular pilgrimages to Mexico’s best beaches to surf, sun and socialize. It was on one of these trips that Ralph sat down at a seaside taqueria and met his true love. He was hooked on the fish taco.

Several years later, with the help of his entire family, Ralph opened his first Rubio’s. A walk-up stand in Mission Bay, San Diego. It was at that walk up stand that America had their first taste of the fish taco. And so they were hooked.

As word of Ralph’s fish tacos spread, so did his business. One store quickly expanded to three, and before long, San Diego’s best-kept secret was out. Rubio’s started a fish taco phenomenon that spread coast to coast. The Original Fish Taco recipe became the basis for everything that Rubio’s stands for: memorable, seafood recipes that reflect our Mexican heritage and the Southern California coast.

Since that day back in 1983, Ralph, with the help of a lot of great people, has sold more than 170 million fish tacos and operates over 190 restaurants on the west coast.

Taxes Saved: $197,000

RPC was called in to represent the restaurant chain’s interests related to an audit by the Orange County Assessor’s office. RPC’s Business Property Tax experts discovered all of the company’s restaurants were assessed differently resulting in miss-classification, varied depreciation for similar equipment and differing values for like fixtures. RPC succeeded in achieving a fair and lower assessment consistent to each location.

Click here for a no obligation review of your business personal property tax savings potential.

 

Business Personal Property & Fixtures (FF&E)

Reel Picture Productions. LLC; San Diego County

Reel Picture

Reel Picture Productions, LLC is USA based company, headquartered in San Diego, California. Reel Picture is a privately owned corporation that was established in 1997.

Reel Picture supplies DVD replication, DVD packaging, CD replication, CD packaging, and OEM packaging to Fortune 500 software companies, Hollywood movie studios, video game companies, music companies, and businesses of all sorts.

For the “best” low price solutions, consistent high-quality optical-media disc replication, disc packaging and internet order fulfillment integration services contact Reel Picture.

Taxes Saved: Cancelled tax bill $30,000

Received tax refunds of $20,000

Total Savings $50,000

RPC achieved assessment reduction as a result of errant past years Form 571 filings and listings of non-existent FF&E.

Click here for a no obligation review of your business personal property tax savings potential.