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Expert Qualified to Offer Unit Valuation of Telecom Property

In tax assessment case, court finds valuation expert qualified under Rule 702 despite lacking an appraiser’s license; court says rule specifically contemplates expert opinion on property valuation by nonappraisers if witness is qualified by “knowledge, skill, experience, training, or education.”

Level 3 Communications, LLC v. Dep’t of Revenue

In tax assessment case, court finds valuation expert qualified under Rule 702 despite lacking an appraiser’s license; court says rule specifically contemplates expert opinion on property valuation by nonappraisers if witness is qualified by “knowledge, skill, experience, training, or education.”

Nursing Home Valuation Must Separate Real Estate From Business Activity

In tax assessment dispute involving nursing home, high court says where facility performs business activity and real estate activity, tax appraisal must separate business value from real estate value; Board of Tax Appeals failed to ensure proper allocation of sales price among assets.

Arbors East RE, L.L.C. v. Franklin County Bd. of Revision

In tax assessment dispute involving nursing home, high court says where facility performs business activity and real estate activity, tax appraisal must separate business value from real estate value; Board of Tax Appeals failed to ensure proper allocation of sales price among assets.

Tax Court Valuation of Public Utility Gets Mixed Marks From State High Court

State Supreme Court says, in valuing public utility, Tax Court had discretion to adopt Commissioner expert’s position on company-specific risk premium and build-up method but failed to explain choice of specific beta factors; Supreme Court remands.

Tax Court Valuation of Public Utility Gets Mixed Marks From State High Court

State Supreme Court says, in valuing public utility, Tax Court had discretion to adopt Commissioner expert’s position on company-specific risk premium and build-up method but failed to explain choice of specific beta factors; Supreme Court remands.

Minn. Energy Res. Corp. v. Commissioner of Revenue

State Supreme Court says, in valuing public utility, Tax Court had discretion to adopt Commissioner expert’s position on company-specific risk premium and build-up method but failed to explain choice of specific beta factors; Supreme Court remands.

Key Tax Ruling From Ohio Supreme Court Concerning Pass-Through Entity

Ohio Supreme Court says tax provision imposing state income tax on capital gain realized by nonresident investor in pass-through entity violates taxpayer’s due process rights barring showing taxpayer’s activities are “unitary with” those of the business.

Highest Court Rebukes Trial Court Over Flat-Out Bar of DCF Approach

State high court says trial court’s categorical rejection of DCF method to value a special purpose plant for tax assessment purposes is improper where parties’ “experienced and knowledgeable” experts relied on it; court remands for new trial on valuation.

Key Tax Ruling From Ohio Supreme Court Concerning Pass-Through Entity

Ohio Supreme Court says tax provision imposing state income tax on capital gain realized by nonresident investor in pass-through entity violates taxpayer’s due process rights barring showing taxpayer’s activities are “unitary with” those of the business.

Corrigan v. Testa

Ohio Supreme Court says tax provision imposing state income tax on capital gain realized by nonresident investor in pass-through entity violates taxpayer’s due process rights barring showing taxpayer’s activities are “unitary with” those of the business.

Wheelabrator Bridgeport, L.P. v. City of Bridgeport

State high court says trial court’s categorical rejection of DCF method to value a special purpose plant for tax assessment purposes is improper where parties’ “experienced and knowledgeable” experts relied on it; court remands for new trial on valuation.

Shaky Industrial Plant Valuation Survives High Court Review

Tax court adopts taxpayer expert’s value of the loss determination underlying real market valuation of industrial plant; state’s high court affirms but notes unresolved contradiction in financial feasibility analysis underpinning expert’s final valuation.

Obsolescence Analysis Kills Tax Court’s Property Valuation

State high court rejects tax court’s external obsolescence calculation related to special purpose property valuation, finding it represents an insufficiently explained departure from the methods the parties’ experts used and lacks support in the record.

Guardian Energy, LLC v. County of Waseca

State high court rejects tax court’s external obsolescence calculation related to special purpose property valuation, finding it represents an insufficiently explained departure from the methods the parties’ experts used and lacks support in the record.

Hewlett-Packard Co. v. Benton Cnty. Assessor

Tax court adopts taxpayer expert’s value of the loss determination underlying real market valuation of industrial plant; state’s high court affirms but notes unresolved contradiction in financial feasibility analysis underpinning expert’s final valuation.

Taxpayer Scores Partial Success in Cal. Hotel Property Tax Suit

Appeals court says assessor’s version of income approach to determine hotel property taxes violates law because it does not identify, value, and exclude certain intangible assets; but management fee deduction largely captures hotel’s goodwill.

SHC Half Moon Bay, LLC v. County of San Mateo

Appeals court says assessor’s version of income approach to determine hotel property taxes violates law because it does not identify, value, and exclude certain intangible assets; but management fee deduction largely captures hotel’s goodwill.

‘Faulty Absolutes’ and Flawed Jury Findings Undermine FF&E Valuation

Arbitrary jury findings—unsupported by the evidence—undermines FF&E valuation in this ad valorem taxation case.

Harris County Appraisal District v. Sigmor Corp.

Arbitrary jury findings--unsupported by the evidence--undermines FF&E valuation in this ad valorem taxation case.

Court Gives Appraisers Advanced Guidance on Their Role

The issue in this state tax case was the interpretation by the court of an administrative rule as it relates to the highest and best use (HBU) requirement.

Norpac Foods v. Oregon Department of Revenue

The issue in this state tax case was the interpretation of an administrative rule as it relates to the highest and best use (HBU).

Revenue Cabinet, Commonwealth of Kentucky v. Comcast Cablevision of the South

The Kentucky Court of Appeals reversed the Board of Tax Appeals decision regarding the definition of “franchise” and “nonoperating intangible property.” The Board ruled that for property tax assessment purposes, Comcast’s BEV included blue sky assets. O ...

Value of Kentucky Cable Television Franchises Are Treated as Operating Property

The Kentucky Court of Appeals reversed the Board of Tax Appeals decision regarding the definition of “franchise” and “nonoperating intangible property.”

In the Matter of ANR Pipeline Company

At issue is the method of valuing income (historical or future), the capitalization rate for 1994 and 1995 (ANR's capital structure was skewed), and the inclusion of certain intangibles.

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