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Nevada's Renewable Energy Program Getting The Partial Abatements/Exemptions

Nevada enacted a Renewable Energy Tax Abatement program in 2009, which it operates under the Governor’s Office of Energy (“GOE”). For eligible renewable energy facilities, the program awards partial abatements for sales and...more

New Anti-Money Laundering Recommendations For British Columbia Casinos

On December 5, 2017, following an internal government review of the casino sector after allegations of transnational money laundering and illicit cash transactions in gaming facilities in the Lower Mainland, British Columbia...more

Recent Kentucky Cases Hold That Exempt Owner Does Not Mean Property Taxes Precluded, and Leased Real Property Value May Include...

Kentucky cases recently held that property is not exempt from taxation merely because the owner may be constitutionally exempt. Also, the valuation of leased property is rental income less expenses. However, if sales of...more

Gaming & Hospitality Legal News: Volume 10, Number 12

On December 5, 2017, following an internal government review of the casino sector after allegations of transnational money laundering and illicit cash transactions in gaming facilities in the Lower Mainland, British Columbia...more

Can Tenants Challenge Property Tax Assessments?

A recent New York case brought into question what had been accepted as a reality, can a tenant challenge the property tax assessment it must pay under the lease? As recognized by the Court, tenants are aggrieved persons under...more

Kentucky’s Limited Renewable Energy Incentives

In August 2007, Kentucky enacted the Incentives for Energy Independence Act (IEIA) program (KRS 154.27-010 through 154.27-090). As with any Kentucky administered tax incentive programs, the inducements under the IEIA are...more

What Happened to Functional Obsolescence in Assessment Valuations

If you own property that is assessed by the cost approach, you likely found out that the only obsolescence deducted was physical depreciation. Yet, it is fundamental that to reach market value by the cost approach, the...more

Valuing the Older Hospitality Facility Can Be Complicated

Hospitality facilities built in the 1980s or 1990s (or earlier) tend to have design and layout configurations that are out of touch with a franchisor’s present market requirements. This jeopardizes the continued franchise...more

Beware of the Overstated Service Life in the Cost Approach

The cost approach requires the identity and quantification of three types of obsolescence – physical, functional and economic. Assessors frequently account only for physical depreciation (although some assessors/appraisers...more

The Art of Replacement in the Cost Approach

We live in an economy where provision of products and services is ever changing, including the hard assets by which such products and services are provided. For complex industrial and manufacturing property that remain...more

Good Corporate Citizen or Simply Paying too Much Property Taxes

Notwithstanding that property taxes tend to be one of the more significant operating expenses for commercial property owners, applying the “good corporate citizen” rational, many fail to challenge their assessments. Does that...more

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