Market Research

PAR will utilize market comparable sales for the correct valuation of your properties. Your reviews and appeals will be supported by every sales database available – Metroscan, CoStar, CompTrack, Comps Plus and Comps. Direct market research pays off with proven reductions for every type of property

Legal Knowledge

Knowing property tax law is imperative to proper taxation. We’ve encountered more than a few inexperienced assessors whose lack of knowledge of current laws and valuation methods often results in egregious over-taxation.

PAR keeps abreast of state laws and court decisions that effect property taxation. Furthermore, we have been actively involved in precedent setting cases that have been instrumental in saving taxpayers’ money.

500 North Broadway Building

This building contained a large amount of asbestos fire proofing. Although the presence was not an immediate health hazard, it reduced the rental rate, caused an above normal vacancy, increased operating costs and reduced the marketability of the property. With the testimony of an environmental engineer and an appraiser we were able to achieve a reduction from the State Tax Commission.

Missouri Pacific Building

This office building was leased by the Union Pacific Railroad at a below market rental rate. The lease had the potential to continue for 15 years. The assessor’s claimed the below-market lease created a leasehold interest in the property which was taxable. Providing expert testimony to the State Tax Commission, we were able to show the leasehold interest had no market value and therefore was not taxable.

Creve Coeur Pointe

Although the building was 100% occupied, the assessor’s approach to value did not account for the overall weakness in actual market sales of comparable buildings. Our valuation utilized specific market sales comparables to achieve a substantial reduction.

Crane National Vendors

Through the use of national sales we were able to demonstrate the inverse relationship between size and value per square foot for this large modern manufacturing plant. The demand for, and hence the value of, these larger industrial properties decreases as the size increases. This fundamental principle is not accounted for by the typical assessment approach to value.

Petrolite Corporation

Over the years the manufacturing part of this facility had been transferred to other locations. We were able to achieve a reduction based on the obsolescence present in both the manufacturing and research and development facilities. We achieved this after a national property tax firm had been reviewing, appealing and achieving minimal reductions in the property’s assessments for the past several years.

Sonoco Products

For the appeal of this manufacturing facility which was being used for warehousing only,, we were able to convince the assessor of significant amounts of functional obsolescence through the use of sales and rent comparables.

Belz Factory Outlet Mall

This outlet mall was located too close to a regional mall to allow for occupancy by the best outlet mall tenants. With the construction of a second outlet mall at a more suitable distance from the regional mall, occupancy and rental rate projections on the subject mall were declining. We were able to achieve a reduction based on the lower projections.

River Roads Mall

This appeal involved a closed regional shopping mall. The mall had been closed for several years. The property was vacant and had been repeatedly vandalized. The property had been purchased several years prior by a national retail developer for approximately $3 million. All efforts to redevelop the property had failed. By demonstrating the limited opportunity for redevelopment and the amount of environmental concerns that would have to be dealt with to raze the structure, we were able to reduce the assessor’s value to a small fraction of the land value.