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Challenge

Whiffen Head hired Altus to review the Transshipment Facility’s municipal assessment of $100 million. The Whiffen Head transshipment facility began construction in 1996 and was completed in 1998. The facility includes a large acreage waterfront wharf, tanker docking, oil tanks, concrete marginal wharf for tug boats and emergency craft, and various dams and impervious lining, together with a pipeline system.

Results

Altus reviewed actual costing documentation and evaluated the project including land valuation, site improvements and applied appropriate depreciation schedules to short-lived items, based on industry expert testimony. The report was defended at the Assessment Review Commission, resulting in reduction of $20 million in the assessed value of the facility and further substantial tax savings. With our highly skilled and experienced personnel based in Canada, we are able to draw upon a diverse array of real estate experts to resolve the challenges that confront our clients. Our expertise includes real estate appraisal for all asset classes, financial analysis and modeling, urban land economics, costing specialists, project management, asset strategy, capital planning, market research, demographic analysis, land use planning, management consultation, property tax specialists and geomatics.

Services provided

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Last updated on July 29th, 2019 at 03:56 pm

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