Pivotal was able to help the owners of a Continuing Care Retirement Community (CCRC) located in Arizona. The property was a new construction project, and the county appraiser was valuing the property for more than what the market value of the property was. One reason for this was that the county Assessor was not very familiar with the workings of these types of properties, especially on the financing side. Pivotal being very familiar with this product type was able to come in and meet with the county appraisers and show them how CCRC should be valued. They also were also able to point out many aspects of the business operations that the county was not aware of such as the very high expense costs to running such a facility.
Pivotal was successful in being able to settle several years of tax disputes with the county for a large reduction of over $630,000 which really improved the client’s bottom line.
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