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Valuation AnalysesArkansas’ “Dark Store Theory” Test Cases for Walmart Stores Land in Circuit CourtWalmart and the assessing community in Arkansas prepare for the state’s first test cases of the “dark store theory” after the world's largest retailer appeals ten unfavorable decisions from a county judge in its home state.
Georgia Supreme Court Finds Section 42 Tax Credits Do Not Constitute “Actual Income” for Purposes of Valuing LIHTC PropertiesIn a major win for LIHTC owners, Georgia Supreme Court clarifies years of confusion and uncertainty in valuation of low income housing projects.
Kansas Board of Tax Appeals Cuts Tax Valuation of Casino Development by More Than $100 MillionThe Kansas Board of Tax Appeals sided with the owner of a recently constructed casino development finding that its ancillary improvements were a major detriment to the property’s income. The significant obsolescence attributable to the superadequacy warranted a $100 million assessment reduction.
Michigan Tax Tribunal Independently Determines Value of Large Automotive Industrial Property after Rejecting Competing AppraisalsThe Michigan Tax Tribunal performed its own independent valuation analysis and utilized only one sales comparable from the property owner’s appraisal to determine the assessment for a large automotive manufacturing facility. The Tribunal criticized both appraisers’ reports for their use of significantly smaller automotive manufacturing facilities and out of state facilities in their sales comparison approaches.
Ohio Board of Tax Appeals Further Confirms Method for Determining Value for Skilled Nursing FacilityThe Ohio Board of Tax Appeals ruled that the income approach used to value a skilled nursing home facility cannot utilize leases that reflect business value.
Washington State Board of Tax Appeals Upholds Assessor’s Valuation for Seattle Apartment ComplexWashington State BTA denies appeal filed by one of the nation’s largest apartment owners after relying on the County’s income approach value conclusion for a Seattle apartment complex.
Other Valuation Headlines From Across the Country (click here to read more) Indiana Tax Court Denies Motion to Dismiss Due Process and Equal Protection Clause Challenges Louisiana Orders Valuation of Riverboat Casino and Hotel Using Cost Approach Michigan Tax Tribunal Finds for Property Owner in Appeal Involving Walmart Ground Lease Minnesota Supreme Court Finds that the Minnesota Tax Court Partially Erred in Valuation of Mall Ohio Appeals Court Affirms BTA’s Increase in Value for a McDonald’s Restaurant Oregon Supreme Court Upholds Reduction for High Vacancy Shopping Center Tennessee State Board of Equalization Retains Local County Board’s Valuation for Retail Bank Branch Washington Board of Tax Appeals Upholds Assessor’s Valuation for Supermarket Washington Decision Reminds Owners that Sales Comparables must be Comparable Deadlines Looming in 6 States |
ContactsNicholas M.J. Ray  Karen H. Bauernschmidt Kenneth R. West David M. Aldous Lauren M. Johnson Andrew E. DeBord Lindsay Doss Spillman Hilary J. Houston Steven L. Smiseck Megan Savage Knox Anthony L. Ehler David A. Froling Scott J. Ziance Steven R. Rech |
This alert is for general information purposes and should not be regarded as legal advice. As always, please let us know if you want more information or have questions about how these developments apply to your situation. |