Private Equity VS Real Estate Transactions | Valuation Differences Between Practice & Real Estate
Assessments, Condos vs. Town Homes
On August 5, 2024, the Washington Court of Appeals, Division One, demonstrated the difficulty for property owners to challenge a local government’s decision to pass the cost of city improvements to them. In SHG Garage SPE et...more
The Massachusetts Appeals Court recently addressed diminution of property value as a basis for standing to file a zoning appeal. In Pobeda RT II, LLC v. Zoning Bd. of Appeals of Watertown, the court affirmed that individual...more
The Arizona Court of Appeals recently held that members of a homeowners’ association are not entitled to severance damages to their residential parcels when common areas are condemned....more
Most folks laboring in the property tax and valuation vineyards would not think that an easement attached to a parcel of real estate could create a separate tax liability for its owner. That presumption might be true in most...more
The Supreme Court of Rhode Island (“Appellate Court”) in a February 21st Opinion addressed a tax assessment issue involving a solar array. See Polseno Properties Management, LLC v. Keeble, 2023 WL 2125824. The question...more
The City of Philadelphia has extended the deadline for the filing of a first level review of real estate assessment appeals to October 14, 2022. As such, there may be some confusion about this recent extension. ...more
Property tax, or ad valorem tax, is a fact of life for people and businesses in Texas. As one of the few states in the United States without income tax, Texas counties rely on property tax as a source of revenue to pay for...more
On March 19, 2020, the New Jersey Supreme Court issued an order extending the filing deadline for local property tax appeals from the original April 1st deadline to at least May 1st, and possibly beyond. Per the order, the...more
In early February, the Third Circuit Court of Appeals rejected the “damaged goods” approach to valuing property crossed by a pipeline. In UGI Sunbury LLC v. A Permanent Easement For 1.7575 Acres et al., the appeals court...more
Under California law, receivers can be appointed for many purposes. Sometimes a “general equity” receiver is appointed to take control of a business entity and its assets where the decision-makers are deadlocked in...more
In Ohio, approximately two-thirds of school district revenue is generated from property taxes, so it is important for school administrators to understand the legal process that affects increases and decreases in property tax...more
In 2018, two members of a realty holding LLC sought judicial dissolution based on the death of one of the other members. The operating agreement defines a member’s death as an event of “Dissociation.”...more
The old saying goes “if you give them an inch, they’ll take a mile”, but the Court of Appeal has reaffirmed that an independent expert appointed by parties to make a binding determination in relation to their dispute is not...more
It is not uncommon for parties entering into an agreement to transfer an asset to seek the input of an independent, third-party appraiser. Plainly, the parties to any such transaction desire an appraiser who will be unbiased...more
Like the vast majority of general civil litigation, eminent domain matters usually settle before going to trial. The resolution is typically documented in either a stipulated judgment or a settlement agreement. ...more
If you own real estate or are contemplating a real estate purchase, give some thought to your property taxes. Specifically, give some thought to whether you might be able to reduce your property taxes. Every parcel of real...more
Resolving an issue not previously decided by Massachusetts appellate courts, the Massachusetts Appeals Court ruled that a landowner is not entitled to a jury trial on a regulatory taking claim....more
Cuyahoga County and 18 other Ohio counties recently completed the state-mandated six-year reappraisal of all real property in those counties. In Cuyahoga County, across all property types, values rose overall by an average of...more
A recent decision by the South Carolina Administrative Law Court (ALC) highlights many of the valuation issues that can arise when property is appraised by a county assessor. In Taylor v. Aiken County Assessor, S.C. Admin....more
In a recent unpublished Court of Appeal decision, Downs v. City of Redding (October 30, 2018), the Court took up two distinct issues: (a) whether a contractor’s use of property for construction staging constitutes a taking...more
In Real Estate Bd. of New York, Inc. v. City of New York, Petitioner-Plaintiff Real Estate Board of New York, Inc. (“REBNY”) commenced a hybrid article 78 proceeding and plenary action against the City of New York (“City”)...more
In Graff v. 2920 Park Grove Venture, Ltd., an executor was sued after selling estate real estate because the executor allegedly sold the property for less than fair market value. No. 05-16-01411-CV, 2018 Tex. App. LEXIS 4266...more
Recently, an Illinois Court of Appeals issued a decision mandating disclosure of assessment records from the Cook County Assessor’s Office to the Chicago Tribune under the Illinois Freedom of Information Act (“FOIA”)....more
Successful petitioners under CEQA who are motivated to file suit, in part, by their private financial interests are not necessarily ineligible for an award of attorneys’ fees under the public interest fee statute. Heron Bay...more