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Holland & Knight LLP

IRS Authority to Assess Certain Foreign Information Return Penalties Restored by D.C. Circuit

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The U.S. Court of Appeals for the District of Columbia Circuit (D.C. Circuit) on May 3, 2024, reversed the U.S. Tax Court (USTC) in Alon Farhy v. Commissioner, No. 23-1179 (D.C. Cir. May 3, 2024) by holding that...more

Venable LLP

Maryland Tax Updates - January 2024

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Tax Court Modifies Rushmore Method for Hotel Valuation. The Maryland Tax Court recently modified the traditional Rushmore income approach used to determine the fair market value (FMV) of the real estate component of a hotel....more

Cole Schotz

The Freeze Act Remains Alive and Well – Freezing in Place Tax Assessments For Two Future Years and Preventing Towns From...

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The Tax Court confirmed in a recently decided case, Levy v. City of Long Branch, decided May 5, 2023, that ”Freeze Act” protections afforded all judgments of the Tax Court and County Tax Boards apply unless appropriate proofs...more

Bilzin Sumberg

Playing Battleship with the IRS: Assessing the Damages

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In a prior post, I discussed the dangers of playing Battleship with the IRS. Recently, taxpayers made a move and scored a hit with the Tax Court’s  recently issued decision in Alon Farhy v. Commissioner, 160 T.C. No. 6 (April...more

Lewis Roca

2021 Arizona Tax Updates

Lewis Roca on

TRANSACTION PRIVILEGE TAX UPDATES LEGISLATION - Senate Bill 1110, Chapter 443. Tribal Exemptions. This bill codified the following exemptions applicable to Indian tribes and tribal members at A.R.S. § 42-5121 et seq.: (1)...more

McDermott Will & Emery

What are the Time Limits for Assessing Additional Federal Tax and Filing a Refund Claim?

The Internal Revenue Service (IRS) must follow the “statute of limitations” as stated in Internal Revenue Code (IRC) Section 6501 to “assess” additional federal tax. Likewise, taxpayers must seek a tax overpayment or refund...more

BakerHostetler

Who Says You Can't Get Into Federal Court? A Primer on the Tax Injunction Act

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Since 1937, the Tax Injunction Act (28 USC 1341) has significantly limited taxpayers' access to federal courts to hear state tax matters. In this week's episode, Matt Hunsaker provides an overview of the Act and avenues still...more

Faegre Drinker Biddle & Reath LLP

Hospitals, Hotels and Abatements — Indiana Tax Court tackles Property Tax Caps

In two recent opinions and one from last spring, the Indiana Tax Court considered whether property taxes for hospitals and hotels should be calculated using the 2% or 3% tax caps. In both opinions, the Court held that use of...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court affirms rejection of Tenant’s claims that Assessor improperly included value of land in taxable leasehold...

Name: Square 74 Associates LLC v. Marion County Assessor - Date Issued: December 3, 2019 - Property Type: 7-story 209,888 square foot public parking garage with 31,000 square feet of first floor retail consisting of...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court affirms Voluntary Dismissals of Property Tax Appeals, where Assessor had not incurrred a “Substantial Expense”

Assessor had spent little time with limited discovery prosecuting case - Name: Marion County Assessor v. Stutz Business Center, LLC - Date Issued: August 30, 2019 - Property Type: Vacant land - Assessment Years:...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court “cannot ignore the parties’ and the Indiana Board’s misapprehension of the law” – applies 1% tax cap to...

Name: Purdom v. Knox County Assessor, Knox County Property Tax Assessment Board of Appeals, and Indiana Board of Tax Review - Date Issued: Feb. 11, 2020 - Property Type: Single-family residence - Assessment Date:...more

Faegre Drinker Biddle & Reath LLP

Declining to reweigh the evidence, Indiana Tax Court affirms assessments of CVS store based on cost approach

Name: CVS Corporation v. Elkhart County Assessor Date Issued: December 9, 2019 - Property Type: Retail pharmacy - Assessment Years: 2012 – 2015...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court affirms assessment of vacant lot based on appraisal and testimony of the appraiser

Name: Sheerin v. LaPorte County Assessor - Date Issued: December 11, 2019 - Property Type: Vacant lot - Assessment Year: 2015...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court to Assessor: “Taxpayers deserve more than taxation by trickery”

On May 24, 2018, the Indiana Tax Court in Switzerland County Assessor v. Belterra Resort Indiana, LLC partially reversed the Indiana Board of Tax Review, ordering a further reduction to the values of its hotel, riverboat...more

Pullman & Comley, LLC

Property Tax and Valuation Topics - Spring 2019

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Tidbit on NNN lease property valuation - A sort of a humdrum ruling on the assessment appeal of a garden variety industrial building nevertheless offers a valuable insight as to proper use of the income valuation...more

Faegre Drinker Biddle & Reath LLP

Tax Court rejects Indiana Board’s “Throwing Darts” to Conclude to a Capitalization Rate That Neither Party’s Appraiser Offered...

Name: Madison County Assessor v. Sedd Realty Company - Date Issued: May 22, 2019 - Property Type: Shopping Center - Assessment Dates: 2009-2012...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court affirms removal of Obsolescence Adjustment to Residential Property, as Homeowners fail to show comparable...

Case Name: Marinov and Marinova v. Tippecanoe County Assessor - Date Issued: February 20, 2019 - Property Type: Single-family residence...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court denies petition to enjoin the collection of property tax, where Taxpayer failed to show former school building...

Name: Wigwam Holdings LLC v. Madison County Assessor - Date Issued: December 14, 2018 - Property Type: 220,000 SF building, including a natatorium, auditorium and 8,996 seat basketball facility...more

Burr & Forman

South Carolina Tax Litigation Update: First Quarter 2018

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There were several notable state tax opinions issued by the South Carolina Administrative Law Court, Court of Appeals, and Supreme Court in the 1st quarter of 2018. A number of tax cases are also pending before the Court of...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court Breathes New Life into Ministry’s Property Tax Exemption Appeal

The Indiana Tax Court in Lake County Trust Co., Trust No. 6 v. St. Joseph County Assessor on October 17th reversed the dismissal of an exemption appeal by a 501(c)(3) non-profit, Flowers for Heaven, Inc., operating a pro-life...more

Bowditch & Dewey

Current Issues for Higher Education Real Estate Lawyers

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Campus Real Estate, Property Management, Tax Credits The 15th Annual Higher Education Real Estate Lawyers conference was held in San Francisco, where attendees listened to and learned from both in-house and outside counsel at...more

Hogan Lovells

Failure to file an objection timeously

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Any taxpayer who is aggrieved by an assessment raised by South African Revenue Service (SARS) has a right to lodge an objection in terms of section 104(3) of the Tax Administration Act 28 of 2011 (the TAA) read with the Rules...more

Farrell Fritz, P.C.

Real Property Tax Alert - October 2016

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Nassau County Class 4 Commercial Property – Disputed Assessment Fund (“DAF”) Started with October 2016 School Bill - All Class 4 commercial properties have been impacted by the increase in the school tax rate...more

Pullman & Comley, LLC

Property Tax & Valuation Topics - Winter 2017

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On September 30, 2016, the Connecticut Supreme Court heard oral argument in Nutmeg Housing Development Corp. v. Colchester. On the face of it, the ad valorem valuation of a garden variety property in the suburbanizing Town...more

Faegre Drinker Biddle & Reath LLP

Indiana Tax Court Reverses Classification Of An Apartment Complex’s Common Area, Modifying Application Of The 2% V. 3% Tax Caps

The Tax Court in Hamilton Square Investment, LLC v Hamilton County Assessor (Oct. 5, 2016) explained, “Indiana’s property tax caps provide taxpayers with credits against their Indiana property tax liabilities” and the “amount...more

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