Purchase price does not always equal market value

A property owner paid more than market value to buy a piece of real estate that had strategic value for them. CRE Tax Appeal researched this transaction and what properties similar to this one were selling for. We contacted the property owner to discuss the transaction; they admitted that they paid more than what they thought the property was worth. We explained how we could help reduce their assessed value to the market value; below the purchase price of the property. Once the appeal was scheduled, CRE Tax Appeal negotiated a 14% reduction of the assessed value.