Assessment appeal of the land plot of Pozhtehnika JSC

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Assessment appeal of the land plot of Pozhtehnika JSC
14 December 2017

Valrus’ experts have completed the assessment appeal project for 4 land plots located in Torzhok area, Tver region owned by Pozhtehnika JSC.

Pozhtechnika JSC is one of the oldest Russian manufacturers of fire-fighting machinery and equipment. In 2005 it celebrated 70 years since the production of the first batch of equipment. The company produces cars for fire department and emergency rescue services, fire extinguishers, charging stations and special fire extinguishing systems, as well as construction bucket lifts and utility vehicles. 

The total area of the assessed land plots is almost 50 hectares. The largest land plot with an area of 37 hectares is under the main production area of the plant. The other sites are a foundry, a former military barracks and an open stadium. Only the land plot under the main area is used in the production activity, the remaining plots are not used and even partially abandoned. 

We performed market valuation of these land plots for the assessment appeal purpose. The total cadastral value of the land plots according to the state appraisal was 495 million rubles. According to Valrus’ experts, the market value of the same assets was 271 million rubles. The results of the valuation were successfully defended in the Assessment Appeal Commission at Tver regional department of Rosreestr. As a result, the cadastral value was decreased at 45%, which allows for client to receive an annual land tax savings of more than 3 million rubles.