ANNUAL SAVINGS OF $60,000 FOLLOWING SUCCESSFUL TAX CONTESTATION
Notice of a property tax assessment was received at our offices for a client whom we represent nationally for all lease related expenses and payments. The notice was relating to a Distribution Center in Edmonton, Alberta and based on our strong understanding of local market conditions, the City’s proposed increase in the assessed value immediately set off alarms within our lease administration team.
Landmark engaged a local tax consultant to file an appeal against the assessed value. In collaboration with our local tax partner, we prepared and presented the necessary documentation to the City of Edmonton Review Board, lobbying to secure a reduction in the assessed value of the property.
As a result of Landmark’s strong position as an expert in the field of lease administration and lease audit, the Board agreed to reduce the assessment by $2,684,000, thereby reducing our client’s annual property tax expense by almost $60,000 in this single location.