Regional Mall

CALIFORNIA

Total Construction Costs $116,000,000
Final Enrolled Supplemental Value $52,000,000
Estimated Annual Savings $720,000

 

A 1.3-million-square-foot regional shopping mall in California underwent a significant expansion including a multistory parking structure. Under California Tax Code a supplemental assessment would be issued against the property. Through working proactively with the assessor’s office, we were able to support a fee simple income valuation of $52,000,000, saving the taxpayer approximately $720,000 annually.