Concerned they might be overpaying on their annual branch property taxes, MountainSeed was selected to provide commercial property tax appeal services for one of the top ten largest credit unions in the U.S.
MountainSeed was selected to provide commercial property tax appeal services for one of the top ten largest credit unions in the U.S. Concerned they might be overpaying on their annual branch property taxes, our client requested a thorough assessment in the hopes of realizing savings. The savings could then be used for strategic investments designed to enhance service delivery and their members experience in addition to lowering expenses.
The client’s in-house teams reviewed revaluations and submitted appeals with varied success. While occasionally their efforts resulted in savings, the client lacked a uniform appeals process which prevented them from reducing their operating costs in a methodical – and meaningful – way. Without sufficient commercial real estate appraisal expertise, timeframes for submitting an appeal, and connections with the Board of Tax Assessors, the client was likely leaving significant money on the table. Hiring MountainSeed on a contingency basis, ensured the consistent, strategic pursuit of operating cost reduction.
”"While other providers offer similar services, we were impressed with MoutainSeed’s depth of valuation and market knowledge and the strength of their relationships at the local county level."
”MountainSeed’s fee was contingent upon their ability to secure savings which engendered trust and ensured accountability. We felt supported and appreciated that we could leave the entire appeal process to them!
The MountainSeed team began by conducting due diligence, thoroughly reviewing fluctuations in year-to-year property values and examining exactly how the value of each property was determined. The team went through a granular level analysis on each building, determined the correct valuation methodology inclusive of future assumptions, and in some cases drafted a list of comparable properties to support their appeals. We then developed and assembled each formal appeal package for submission to the Board of Tax Assessors.
By outsourcing this process, the client was able to leverage MountainSeed’s branch valuation expertise and relationships with jurisdictions to achieve substantial savings while staying focused on what they do best – serving their members.