Medical Office Campus Landlord
Our team focused on the medical buildings that were entitled to exemptions for the previous three years. In addition, we submit applications for the supporting buildings and parking facilities to receive exemptions as well.
One of the lesser known facts about the Washington State exemptions is that they apply to supporting buildings (administrative buildings, parking garages, etc.) as well as the main building structures. Like most companies, our client didn’t realize that the supporting buildings and parking areas were eligible to be tax exempt. This represented a huge opportunity for savings.
We were able to save our client over $300,000 on the parking garage for the prior 3 years alone and savings of 64% of their total annual bill going forward. The percentage is based on the total number of parking spaces utilized by the non-profit tenants that the parking garage supports