Creta LLP
About
Creta LLP is your trusted partner for vertically integrated Real Estate Tax Appeals and Advisory services, exclusively focused on office properties. Leveraging advanced data analytics and expert insights, we craft effective and efficient appeal strategies that optimize value, especially in the post-COVID real estate landscape. Our team of specialists understands the unique challenges of office property ownership, ensuring that your tax obligations are minimized. With a commitment to excellence, we help you navigate this evolving market to maximize value and achieve sustainable results, based on best practices.
Our Approach
We specialize in tailored tax appeal solutions exclusively for office property owners by leveraging a vertically integrated approach that combines valuation advisory, tax expertise, and legal representation to maximize savings and reduce office property tax liabilities.
Our team of office property tax appeals analysts, valuation experts and attorneys work seamlessly from the initial consultation throughout the appeals process, ensuring every case is built on strong data-driven analysis, and strategic insights. With deep expertise in the evolving office market from a tax assessment perspective, we deliver innovative solutions that protect property value and drive profitability for our clients.
We believe that a property's fair market value and highest and best use should be the primary determinants of assessed value, ensuring fairness for all. This guiding principle shapes our approach to real property tax appeals and advisory services.
1600 K Street NW,
Washington, DC
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The subject property was an 80,892 s.f. office building in NW DC, with only lot 812 contested.
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Our approach and insight led to an adjusted rent downward, but upheld OTR’s cap rate and cost to cure approach leading to optimization, reducing the TY assessment from $27,520,320 to $23,601,826.
Gregory C. Syphax, MAI
Former Chairman of the Real Property Tax Appeals
Commission (RPTAC) for the District of Columbia - July 13, 2012 – July 18, 2020
“Commissioners who serve on the Real Property Tax Appeals Commission are required to have at least 5 years of real estate experience as a real estate appraiser, real estate broker, property manager, real estate attorney, real estate investor, or developer.
When Mr. Isaac was appointed to the Commission by the Mayor in 2012, he was the youngest and least experienced in property valuation. However, I recognized that he was also one of the brightest members. I worked with Mr. Isaac to bring him up to par on issues involving the various methods of property valuation such as Income Capitalization, Cost Analysis, Sales Comparison Analysis, and Equalization. As Panel Chairman, Commissioners also address issues involving of Property Classification and must learn the internal rules of the Commission’s assessment process.
Mr. Isaac had no problem understanding the methodologies and the tasks at hand."