TAX APPEAL

AGREEMENT

It is agreed that Christopher M. Bates, Inc. (“CMB”) will represent you (“Client”) in the administrative appeal of the 2012 property tax assessment(s) on the property(ies) identified below (collectively, the “Property(ies)”) under the following terms and conditions (the “Agreement”):

 

For each Property, Client agrees to pay CMB a performance fee equal to 30% (thirty percent) of the Tax Savings.  ”Tax Savings” is defined as the difference between the proposed assessment (as determined by the TRIM Notice or otherwise confirmed by the appraisal authority) and the final assessment for each Property (as determined either by the Value Adjustment Board (“VAB”) or a negotiated agreement with the local County Property Appraiser), multiplied by the final and adjusted tax rate for each year.

 

Tax Savings includes interest, reduction of penalties, partial or full exemption discovery or any “back-tax” or prior year appeal efforts, and may be based on the actual refund amount issued to Client, whichever is greater.

 

CMB will not charge Client for costs associated with photography, printing, telephone calls, local travel and regular mail.  Extraordinary costs shall be the responsibility of Client but will not be incurred without Client’s prior consent.  Such extraordinary costs include overnight mail, special photography, etc.  CMB does not anticipate any extraordinary expenditure.  In any event, Client agrees to pay in advance the filing fees ($15.00 for each folio number under current law, plus $10.00 for processing each petition, total base fee equals $25.00).

 

All contingency fees are due within thirty (30) days of proof of the reduction through a settlement letter or otherwise the results of the Special Magistrate’s Findings of Fact indicating that a reduction was “Granted”.  Interest at a rate of 1.0% per month (or the maximum allowed by law, whichever is less) shall accrue commencing thirty (30) days after billing.

 

CMB is not responsible for collecting, receiving or requesting the refund or corrected tax statement for client as such events are driven by appraisal and taxing authorities and generally conducted through automated systems.

 

In the event that any Property is sold or otherwise transferred prior to the conclusion of CMB’s engagement and the payment of all of CMB’s fees, Client shall continue to remain liable for the payment of CMB’s fees until Client’s transferee assumes in writing, Client’s obligations under this Agreement.

If either party initiates legal proceedings against the other relating to this Agreement, the prevailing party shall be entitled to recover from the losing party its reasonable attorney’s fees and costs including costs associated with pre-lawsuit collection efforts and the hiring of a collection agency.  Florida law shall apply to any disputes and jurisdiction shall be in Broward County, Florida.

CMB also reserves the right to file a “Lis Pendens” on the subject property(s) for client’s failure to pay fees generated by property tax appeal services in a timely and reasonable manner; or non-payment of fees, after receipt of tax savings benefits or otherwise an actual refund.

This Agreement may stay in effect for ad valorem tax years beyond 2012 upon either party sending written notice via email with delivery confirmation or certified mail, return receipt requested to the other party renewing this Agreement of the corresponding year.  If accepted, all terms and conditions will remain in effect except that the actual tax year shall be substituted for 2012 throughout this Agreement.

 

This Agreement constitutes the entire agreement between CMB and Client and supersedes all prior discussions, negotiations and agreements.  No amendment or alteration of this Agreement shall be valid or binding unless in writing, executed by both parties.

 

If you have any questions, please contact us.  Please list the Property (ies) and sign this letter below where indicated and return to me.

 

LIST OF PROPERTIES

 

(Attach additional pages as necessary)

AGREED TO THIS _______ DAY OF _______________________, 2012.
Sincerely,                                                           READ, AGREED TO AND ACCEPTED BY:

 

 

[YOUR LETTERHEAD]

[DATE]

CHRISTOPHER M. BATES, INC.

1341 S Ocean Drive

Fort Lauderdale, Florida 33316

 

“LETTER OF AUTHORIZATION”

 TO WHOM IT MAY CONCERN;

___________________________ hereby appoints and authorizes CHRISTOPHER M. BATES, INC. as agents to represent our property, being further described as _____________.

They have the right to file petitions, amend (Tangible Personal Property) returns, request tax refunds, examine any records and discuss or appeal any tax assessments to the appropriate government authority when, in their opinion, the assessment does not constitute fair market value.

By:                   ________________________________

Title:                ________________________________

Date:                ________________________________

 

State of                        }          The foregoing instrument was acknowledged before me this

County of                                }          _____ day of _____, 2012 by ___________, who is personally                                                       known to me.

 

(Notary Seal) __________________________________________________

Notary Public

Commission Expires: ________________________________

INFORMATION REQUEST FORM

 

Please provide the following list of items:   

1.      2011 Income and Expense Summary, as applicable.

2.      January 2012 Rent Roll.

3.      Copy of this year’s (TRIM) proposed property tax notice(s).

4.      Executed Letter of Authority and Agreement.

  The following items are needed, but not required:

 

1.      Building size (number of units or square feet).

2.      Closing statement or purchase agreement, terms and conditions of sale.

3.      Copy of typical lease, if applicable.

4.      Cost of tenant improvements during 2011, paid by landlord.

5.      Cost of 2011 Capital Improvements or Leasing Commissions

6.      Any appraisals of the subject property within last three years.

7.      Contact person at property (usually the Property Manager) in order to conduct a physical inspection of the subject(s).

Other relevant data that may affect the subject value or marketability:

 

   Physical Deterioration Economic Conditions
   Functional Design Problems Rent Concessions
   Hazardous Waste or Chemical        Pollutants Competition