JFK Investment Company LLC.pdf
Jfk Investment Company, LLC Petitioner Vs. City Of Novi Respondent · 26-002831-TT
Text extracted from the reviewed PDF, organized by page. OCR and reading order may contain errors; confirm details in the PDF below.
Page 1
RECEIVED PROOF OF SERVICE APR 1.5 2026 STATE OF MICHIGAN ~~) MICHIGAN x Tgp L COUNTY OF Oakland ) Fabiola Borowy being duly sworn, deposes and says that on the 9* day of April, 2026 served a true copy of Petition along with a copy of Proof of Service by placing a copy in an envelope correctly and plainly addressed to: 1. Michigan Tax Tribunal P. O. Box 30232 Lansing, MI 48909 Traninfo:4606 26111824-1 04/14/26 2. City of Novi Assessor ol sh 45175 W 10 Mile Rd : ENT COFANY LLC Novi, MI 48375 and depositing same in the United States Mail with postage thereon full prepaid. Fabiola Borowy Sworn to and subscribed before me on the 9t" day of April, 2026. uw
Page 2
STATE OF MICHIGAN GRETCHEN WHITMER DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS MARLON |. BROWN, DPA GOVERNOR LANSING DIRECTOR JFK Investment Company, L.L.C. , MICHIGAN TAX TRIBUNAL Petitioner(s) \ MTT Docket No. City of Novi 5 Respondent(s) ENTIRE TRIBUNAL PROPERTY TAX PETITION 1s Property Parcel No: 50-22-14-376-011 (If more than one parcel is at issue, attach a completed Multiple Parcel Petition Form addressing all other parcels at issue.) 2. The property identified above is X_ real ___personal. 3. If more than one parcel of real property is under appeal, are the properties contiguous? ___ Yes ___ No. (If no, separate Petitions are required for each non- contiguous parcel.) N/A 4. Are all of the parcels of personal property located on a parcel of real property under appeal? ___ Yes ___ No. (If no, separate Petitions are required for each parcel of personal property not located on a parcel of real property under appeal.) N/A 5. If parcels of personal property are under appeal, when were the personal property statements filed by parcel number (attach additional page if necessary): N/A 6. The property identified above is classified as commercial
Page 3
MTT Docket No. Page 2 of 4 If a protest was required and no protest was made, list the separate and specific facts upon which Petitioner relies to invoke the Tribunal's authority over the assessment or assessments at issue (attach additional page if necessary): N/A If the appeal was not submitted by the deadline for the filing of an appeal for the classification or classifications of the properties at issue (i.e., May 31 or July 31 of the tax year involved), list the separate and specific facts upon which Petitioner relies to invoke the Tribunal's authority over the assessment or assessments at issue (attach additional page if necessary): N/A 10. The property or properties at issue are located in Oakland County. Th property or properties’ address is: 26200 Town Center Dr 11: The assessment or assessments at issue were established by the (applicable local governmental unit): Board of Review 12. Petitioner's legal residence or principal office address is: 43252 Woodward Avenue Suite 210 Bloomfield Hills, MI 48302 13. This appeal involves issues relating to the (check all that are applicable): X the property or properties’ true cash and taxable values the property or properties’ taxable value only If the property or properties’ taxable value is at issue, is there a dispute as to the value of an addition or loss? __ Yes __No uniformity of the property or properties’ assessment
Page 4
MTT Docket No. Page 3 of 4 15. If more than the current tax year is being appealed, list the separate and specific facts upon which Petitioner relies to invoke the Tribunals authority over the prior tax vear or years (attach additional page if necessary): 16. The values for the property identified above as established by Respondent's Board of Review are: Tax Year True Cash Value Assessed Value Taxable Value 2026 $10,179,060 $5,089,530 $4,501,520 17. Petitioner contends that the values for the property identified above are: Tax Year True Cash Value State Equalized Value Taxable Value 2026 $7,900,000 $3,950,000 $3,950,000 18. The values in dispute for the property identified above are: Tax Year True Cash Value State Equalized Value Taxable Value 2026 $2,279,060 $1,139,530 $551,520 19. Petitioner requests the following relief (attach additional page if necessary): Adjust all values to petitioners
Page 5
MTT Docket No. Page 4 of 4 Signature of Petitione Agen 4 J if none, Petitioner: br / Printed Name of Petiti a — Representative or, if none, Petitioner: Joseph Kosik 7 Email Address: il comms Mailing Address: 43252 Woodward Avenue Suite 210 Bloomfield Hills, MI 48302 Telephone Number: 248-333-2373 ext. 102 Date: April 7, 2026
Page 6
Income Statement (Date Range) LLC Company InvestmentJFK Center - 26200 Town Center Drive Novi, MI 48375 Pointe Office LakeProperties: Date Range: 01/01/2025 to 12/31/2025 Accounting Basis: Cash Selected Period Include Zero Balance GL Accounts: No Account Name Operating Income & Expense 7,828.20 Income 14,453.40 Sales-Maintenance/Repair 3,101.16 Income-Buildout Reimbursement 20,202.62 Income-CAM Reimbursement 19,296.10 Income-Tax (Estimate) Reimbursement 166,438.54 Audi Income-Tenant Reimbursement 153291821 Income-Utility Reimbursement 4,725,646.03 Rental Income Total Operating Income 6,344.65 Expense 6,710.88 COS-Maintenance 26,322.48 Accounting Fee Expense 2,245.03 Expense Adminstration 5,984.64 Auto/Truck Expense 13.53 Commission Expense 15,784.00 Employee Relations Expense 361,312.10 Insurance Expense-General 73,660.32 Interest Expense 133.92 Fee Expense Management 220.00 Office Expense 233,664.58 Professional Fee Expense 5,408.88 Property Tax Expense-Real 51,331.83 R&M-Elevator 40,488.61 Maintenance R&M-General 49,856.21 R&M-Grounds/Lndscp/lrrigiPwrwash 96,545.46 R&M-HVAC Repair/Filter/Pwrwash 1,999.72 Service/Supply R&M-Janitorial 1,406.00 Lot R&M-Parking 1,542.04 R&M Pest Control 1,954.50 R&M-Plant Maintenance (Interior) 22,398.50 R&M-Security/Alarm 4,789.26
Page 7
Income Statement (Date Range) Selected Period Account Name 383,277.17 NOI - Net Operating Income 1,725,646.03 Total Income 1,342,368.86 Total Expense 383,217.47 Net Income
Page 8
As of: Units: Rent 280 270 265 260 250 220 200 195 185 180 170 165 160 150 145 135 110 100 M133 M001 Lake Unit Include |Created Properties: Rollon Pointe Tags Active Lake 12/31/2025 04/08/2026 Office Non-Revenue (End Pointe —/- rn wf fe 15 Sf fe —/= i. =f len = —f- afi BABD/ Center of - Units: Last Office Toll of Riken LLC Smith Sanyo Mutual Ansys, Dahring 26200 Tenant No of Synopsys Inc. Bros, Company Reliance America Staywell Company Insurance Corporation Year) Center Lincoln (Invoice Autodesk, Ameriprise Property, Real - U.S.A. Town - suite LLC Inc. Spine Inc. & Omaha Cusmano National Building Corporation 300) - Center 26200 Current Current Current Current Current Current Current Current Current Current Current Novi, Center Vacant-Rented Vacant-Rented Drive Status Town Vacant-Rented Vacant-Unrented Vacant-Unrented Ml Vacant-Unrented Vacant-Unrented Vacant-Unrented Vacant-Unrented Drive 48375 Novi, Ml 48375 Rent 1,626.83 1,837.50 6,416.44 7,362.92 7,076.42 3,489.38 8,311.63 12,970.08 0.00 3,936.00 12,063.33 Deposit 0.00 5,970.71 0.00 4,000.00 0.00 0.00 1,702.50 0.00 1,715.00 0.00 0.00 0.00 2,967.25 0.00 0.00 0.00 0.00 3576.12 0.00 11,036.67 08/01/ 2001 07/01/ 2010 04/01/ 2020 10/01/ 1998 07/01/ 2014 11/01/ 2017 11/01/ 2021 10/01/ 2015 09/01/ 2013 06/01/ 2011 03/01/ From Lease 07/31/ 2027 09/30/ 2029 05/31/ 2026 01/31/ 2027 12/31/ 2027 09/30/ 2031 11/30/ 2026 06/30/ 2026 07/31/ 2029 11/30/ Lease Move-in 05/01/ 1995 02/01/ 2010 04/16/ 2020 06/01/ 1998 07/01/ 2014 11/03/ 2017 11/01/ 2021 09/13/ 2015 09/01/ 2013 06/01/ 2019 02/01/ out Move
Page 9
22 22 350 300 Unit Rent Units Total UnitsCreated on Roll Tags 04/08/2026 == BA Altarum Autodesk, Company Life Tenant Inc. Insurance Institute 59.1% 59.1% Current Current Status Occupied Occupied 93,597 0.00 0.00 124,530.53 124,530.53 19,753.71 39,686.29 Rent 62,513.77 62,513.77 19,753.71 11,791.81 Deposit 2024 10/01/ 1995 02/01/ 2009 From Lease To 2030 04/30/ 2027 09/30/ 2026 Lease 2024 10/01/ 1995 02/01/ 2017 Move-in
Page 10
(CILY OF] 2026 BOARD OF REVIEW DECISION AD | ) \ FROM E'S City of Novi Assessing Dept. ' 7 1 03/19/2026 4 4 45175 Ten Mile Rd. Novi, MI 48375 ] | \ OV | NAME AND ADDRESS OF OWNER OR PERSON NAMED ON ASSESSMENT | PROPERTY IDENTIFICATION: (Parcel Code required. Property ROLL: address and legal description optional.): JFK INVESTMENT COMPANY 50-22-14-376-011 43252 WOODWARD AVE STE 210 26200 TOWN CENTER DR BLOOMFIELD HILLS MI 48302 TIN, R8E, SEC 14 PART OF SW 1/4 BEG AT PT DIST $ 87-28-51 W 1050.77 FT & N 02-40-33 W 543 FT FROM 51/4 COR, TH N 02-40-33 W 420 FT, TH N 87-19-27 £ 785 FT, TH $ 02-40-33 £ 420 FT, TH $ 87-19-27 W 785 FT TO BEG 7.57 A8/27/87 FR 005 THIS PROPERTY IS CLASSIFIED AS: 201 (COMMERCIAL-IMPROVED) PETITION NO.: 147 2026 ORIGINAL ASSESSED VALUE 5,089,530 2026 ORIGINAL TAXABLE VALUE 4,501,520 The Board of Review has reviewed your appeal and has made the following decision: 2026 POST BOARD OF REVIEW ASSESSED VALUE 5,089,530 2026 POST BOARD OF REVIEW TAXABLE VALUE ' 4,501,520 2026 % PRINCIPAL RESIDENCE EXEMPTION / QUALIFIED AG 0.0000 INSUF Reason: NO CHANGE - INSUFFICIENT EVIDENCE If you disagree with the Board of Review's decision regarding the.2026 tentative assessed or taxable values, you may appeal that decision by filing a petition with the Michigan Tax Tribunal at P.O. Box 30232, Lansing, MI 48909. A petition and more information may be obtained at https://www.michigan.gov/taxtrib. The filing deadline is July 31 for Residential Real Property. The filing deadline is May 31 for Commercial Real, Industrial Real, Developmental Real, Commercial Personal, Industrial Personal, and Utility Personal Property. Taxpayers who do not have access to the internet may call (248) 347-0485
Page 11
Suite43252 JFK 210 Bloomfield Investment Hills, Woodward MI Avenue 48302 Company, LLC ESRB P. NA O SNigiplillipefis BOX LANSING, MICHIGAN SS , bo MI 30232 TAX 48909 034B 04/09/2026 FP° Zan Z US TRIBUNAL $ 0081831707 ZIP Firsi-Ciass - 001.03 4830 POSTAGE