As costs rise and rental income remains largely stagnant, property taxes are one area where owners may be able to reduce expenses. Many Los Angeles-area apartment owners may be overpaying property taxes without realizing it, and Wes Nichols will provide a practical overview of the appeal process and how current market conditions can affect your assessment.

What You’ll Learn

• How a multifamily building is actually valued, including Proposition 8, the decline-in-value provision the county does not apply automatically.
• What evidence supports a reduction: current rent roll, trailing twelve-month operating statements, and income approach applied to rent-controlled assets.
• How the rising cap rates, increasing concessions, and stalled rent growth are creating strong property tax reduction arguments today.
• What the appeal process looks like from start to finish, including key deadlines.
• The process, the timeline, and the refund, from the November 30 filing through stipulation or hearing.
• Why Los Angeles multifamily is frequently over-assessed. Rent stabilization ordinances (RSO) under local RSO and state law, Assembly Bill 1482, rent caps hold rents down while assessed values continue to rise.
• How to determine whether your apartment property is eligible for a property tax appeal.

WES NICHOLS | Founder & Chief Executive Officer, Paramount Property Tax Appeal

Wes Nichols founded Paramount Property Tax Appeal in 2009 and serves as Founder and Chief Executive Officer. The firm represents commercial and multifamily property owners in assessment appeals across California, Colorado, Texas, Nevada, Arizona, and Washington, with CPAs, certified appraisers, and CRE veterans leading the practice. Paramount has filed 45,000+ appeals with an 85% success rate, a 24% average reduction in assessed value, and $100M+ in refunds secured. The firm works on contingency and is paid only when it secures a reduction.