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Case Study 1: Commercial Building & Vacant Land in Northeast Ohio

Facts: The client acquired a building and land in 2016 adjacent to a bar/restaurant it owned. After the sale, the School Board filed an increase complaint based on the recorded deed.

 

Issue: The client faced a 300% increase in real estate taxes on the purchased property.

 

Why Hire Steve Nowak Law, LLC: Our review and inspection confirmed that the client paid above-market prices to secure property to ensure the vitality of his ongoing business.

 

Result: We successfully persuaded the Lake County Board of Revision that the sale price was not the best evidence of value. Citing the revised standards of R.C. 5713.03, the Board of Revision agreed and retained the County’s value finding the sale price was not reflective of fair market value. Because of this result, the client avoided a huge tax increase. And the client was able to continue renovations of the building to add additional revenue streams and improve operational efficiency.

Case Study 2: Multifamily Property in Southwest Ohio

Facts: The out-of-state client acquired a large multi-family apartment complex in 2016. After the sale, the School Board filed an increase complaint based on the recorded deed.

 

Issue: The client faced a revised tax bill seeking an additional $500,000 in real estate taxes based on the “sale” price recorded with the county.  The apartment property would never have been able to operate under the tax bill that would have been sent if the School Board “won.”

 

Why Hire Steve Nowak Law, LLC: Our review found the client purchased significant non-real estate items in the total sale price. An unsigned and erroneous conveyance fee form was filed with the county.

 

Result: We successfully reached a settlement with the School Board after the Montgomery County Board of Revision hearing. The settlement allowed the client to plan for the next fiscal year and set at a reasonable valuation of its property.

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