Location
Chicago, IL
Start Date
13-12-2012 2:00 PM
End Date
13-12-2012 3:15 PM
Description
The topic of the presentation pertains to the unique valuation problem of quantifying and supporting entrepreneurial profit in the valuation of taxable hospital real properties nationwide. With reference to the attached article published as the Cover Story of the March 2012 Edition of Fair & Equitable, attorneys representing property tax assessment authorities may want to be aware of this breaking new valuation methodology which has the potential to fairly and equitably increase hospital real property tax assessments nationwide by billions of dollars. As noted within the referenced article, the valuation methodology results in quantification of about $45 million of market-based real property entrepreneurial profit for a single hospital in metro-Phoenix Arizona. This sort of application for hundreds of taxable hospitals from coast to coast has the potential to shift significant property tax burden within many communities. Attorneys may want to consider litigation strategy in light of this new valuation methodology.
Recommended Citation
VanSanten, John MAI, MRICS and Poteet, Jack Randal MAI, ASA, "Valuation models for hospitals & health care facilities" (2012). IAAO Annual Legal Seminar. 6.
https://researchexchange.iaao.org/legal/legal12/sessions/6
Valuation models for hospitals & health care facilities
Chicago, IL
The topic of the presentation pertains to the unique valuation problem of quantifying and supporting entrepreneurial profit in the valuation of taxable hospital real properties nationwide. With reference to the attached article published as the Cover Story of the March 2012 Edition of Fair & Equitable, attorneys representing property tax assessment authorities may want to be aware of this breaking new valuation methodology which has the potential to fairly and equitably increase hospital real property tax assessments nationwide by billions of dollars. As noted within the referenced article, the valuation methodology results in quantification of about $45 million of market-based real property entrepreneurial profit for a single hospital in metro-Phoenix Arizona. This sort of application for hundreds of taxable hospitals from coast to coast has the potential to shift significant property tax burden within many communities. Attorneys may want to consider litigation strategy in light of this new valuation methodology.