Success Stories

Ducati Milwaukee: Real Estate Assessment Review and Appeal

Real estate assessment review yields favorable appeal and annual tax savings.

Ducati Milwaukee
Joe Meinerz, General Manager
“We are pleased with the successful outcome of our tax engagement with Wipfli. We have highly recommended their services to others.”
 

Ducati Milwaukee Assessment Appeal

Located in Pewaukee, Ducati Milwaukee is a powersports dealer offering new and used Ducati vehicles, parts, and services. The company is Wisconsin’s only certified and factory-authorized Ducati dealer and service location. Ducati Milwaukee also provides exceptional service to a multitude of used Honda, Suzuki, Yamaha, and Harley Davidson models, all backed by a unique brand of outstanding personal service. With a reputation for honesty and integrity, the dealership attracts buyers from hundreds of miles away.

Situation

Like many dealerships and businesses, Ducati Milwaukee suspected its assessed property value was exceeding fair market value. The company sought a property tax reduction on its own, but without the time, resources, expertise, and appeal experience needed, the process was unsuccessful. Unlike many dealerships that believe there’s nothing more to be done, Ducati Milwaukee contacted Wipfli.

Strategy

With deep backgrounds in commercial real estate transactions, appraisals, and valuation analysis, Wipfli’s Real Estate Specialty Services team performed a real estate assessment review and pursued an appeal on behalf of the dealership. The team fully researched the property, gathered sufficient data, ensured the right timing, and leveraged windows of opportunity. During the engagement, Wipfli:

  • Conducted a review of the property and assessed its value. The fieldwork included broad due diligence covering on-site evaluation and consideration of neighboring comparable properties.
  • Performed a full analysis with the scrutiny similar to an appraisal. Property value numbers were honed and details were verified in order to stand up to the assessment challenge.
  • Prepared a strategy for presenting the evidence and argument. Determined the proper communication and interpersonal approach based on knowledge of each individual, the industry, and market experience.

Confident in its numbers, Wipfli’s team then used formidable negotiating skills to get the assessor to agree with its findings. In the process, Wipfli disputed inaccuracies by providing factual and current data that clarified previous misinterpretations.

Benefits

As a result of Wipfli’s analysis and the team’s ability to astutely support its conclusions at appeal, Ducati Milwaukee received a 25% reduction in its assessed market value, creating an annual 25% tax savings. The significant savings allows Ducati Milwaukee to now optimize its future business performance with money that’s no longer wastefully spent on taxes.  

Relationship Executive(s)

Steve Traudt, Real Estate Specialty Services Director