EGL PROPERTY MANAGEMENT

Property Tax Adjustments

October 1, 2008

Dear Valued Client,

Under California state law as set forth in Proposition 8, you are entitled to a temporary reduction in property taxes when the value of your property falls below the assessed value.

Due to the current fluctuations in the real estate market the value of your property could unfortunately be lower than your current assessed value. However at EGL Properties, we see this as an opportunity for you to save money on property taxes.

EGL Properties is pleased to announce a new service, where we would interface with the County to reduce your property taxes. As part of this service, EGL would:

  • Complete an evaluation of your property’s assessed value recorded in the county tax rolls
  • Perform a market analysis of your property’s current value
  • Prepare the application for submission to the Assessor and the Assessment Appeals Board, as needed
  • Handle all communications with the board and the county appraisers
  • Represent you at the hearing before the Assessment Appeals Board, if necessary

Because this is a service only offered to clients, or referrals by clients, EGL does not ask for any money upfront. We simply would invoice you for 50% of any money you save.

FOR EXAMPLE:

Property purchased in 2005 $900,000 Property Taxes: $11,250
Current Value: $650,000  Potential Property Taxes: $ 8,125
  Possible Savings: $ 3,125
  - Fee to EGL: $ 1,562
  Total Net Savings $ 1,563

If you are interested in this service, please contact me at (310) 481-0922 x 223 or email me at taxadjustment@eglproperties.com and I would be happy to discuss further.

We look forward to your participation in this program.

Yours truly,

EGL PROPERTIES, INC.

Elie Litov
Chief Financial Officer