Property Tax:  Add Value Through Correct Valuation of Student Housing

Property Tax: Add Value Through Correct Valuation of Student Housing

Even in a booming market, managing expenses is the best way to ensure the long-term profitability of investment properties. For most student housing, the largest expense after debt service is property tax. Assessors in college towns are happy to shift the tax burden onto out-of-town students and investors in …

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Illinois court finds mortgage assignments not subject to Chicago Transfer Tax

Illinois court finds mortgage assignments not subject to Chicago Transfer Tax

The Appellate Court of Illinois, First District, recently concluded that the City of Chicago’s real property transfer tax did not extend to assignments of mortgages because, contrary to the City’s arguments, mortgage assignments are not beneficial or controlling interests in property.  The Court’s decision …

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Supreme Court derails 4-R Act challenge to Alabama sales tax on diesel

Supreme Court derails 4-R Act challenge to Alabama sales tax on diesel

On March 4, 2015, the United States Supreme Court decided Alabama Department of Revenue v. CSX Transportation, Inc., No. 13-553, holding that a rail carrier can prove discrimination under the Railroad Revitalization and Regulation Reform Act (4-R Act), 49 U.S.C. § 11501(b)(4), which forbids states from imposing …

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Indiana Tax Court Finds Use of Appraisals Strategic, Not Mandatory

Indiana Tax Court Finds Use of Appraisals Strategic, Not Mandatory

The Indiana Tax Court recently reiterated its rules regarding the deference it gives to Indiana Board of Tax Review (IBTR) decisions, as well as clarifying how appraisal evidence is used.  In Howard County Assessor v. Kokomo Mall LLC, 14 N.E.3d 895 (Ind. Tax Ct. 2014), the Assessor appealed a decision of the IBTR …

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Avoiding ‘Deja Vu 2′ In High Court CSX Tax Case

Avoiding ‘Deja Vu 2′ In High Court CSX Tax Case

The following post was originally published by Law360 on December 18, 2014. The oral arguments before the U.S. Supreme Court last week in Alabama Department of Revenue v. CSX Transportation Inc. found the justices seeking a manageable way to evaluate whether a state tax statute is discriminatory while also …

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How Casino Operators Can Avoid a Stacked Property Tax Deck

How Casino Operators Can Avoid a Stacked Property Tax Deck

    In the perplexing world of property taxation, it's hard enough to get an appropriate assessment on a good day but even harder when the deck is stacked against you, Ben Blair wrote in the September 2014 issue of Casino Journal. In the shadow of the Great Recession, local tax assessors …

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