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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Evaluating Tax Reform Proposals and Their Potential Impact on the Energy Sector

Evaluating Tax Reform Proposals and Their Potential Impact on the Energy Sector

My colleagues issued this update earlier this week: It has been over thirty years since the last major overhaul of the U.S. tax code, President Reagan's Tax Reform Act of 1986. That process took over two years and required cooperation between the President and both parties in Congress. Since then, there have been …

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Indiana Tax Court deep freezes sales tax exemptions for Warehouse Operator’s purchases of equipment and electricity

Indiana Tax Court deep freezes sales tax exemptions for Warehouse Operator’s purchases of equipment and electricity

In Merchandise Warehouse Co., Inc. v. Indiana Department of State Revenue (Jan. 11, 2017), the Indiana Tax Court rejected a Taxpayer’s request for a sales tax exemption for certain freezer equipment and the electricity used to power the equipment.  Taxpayer operated a food storage warehouse.  Food …

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Indiana Tax Court reverses classification of an apartment complex’s common area, modifying application of the 2% v. 3% tax caps

Indiana Tax Court reverses classification of an apartment complex’s common area, modifying application of the 2% v. 3% tax caps

The Tax Court in Hamilton Square Investment, LLC v Hamilton County Assessor (Oct. 5, 2016) explained, “Indiana’s property tax caps provide taxpayers with credits against their Indiana property tax liabilities” and the “amount of a credit depends on, among other things, a property’s classification (e.g., …

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Indiana Tax Court declines to dismiss property tax appeal where Trust failed to timely file administrative record

Indiana Tax Court declines to dismiss property tax appeal where Trust failed to timely file administrative record

On December 30, 2016, in Lake County Trust Co., Trust No. 6 (Flowers for Heaven, Inc.) v. St. Joseph County Assessor, the Indiana Tax Court allowed a property tax appeal to move forward on the merits, even though the Trust failed to timely file a copy of the certified administrative record with the Court.  Tax …

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Indiana Tax Court affirms assessment reductions for retail property used as CVS

Indiana Tax Court affirms assessment reductions for retail property used as CVS

In Monroe County Assessor v. SCP 2007-C-26-002, LLC a/k/a CVS 3195-02 (Nov. 4, 2016), the Indiana Tax Court affirmed the 2009 – 2013 assessment reductions of a 13,000 square foot retail store operated as a CVS.  During the administrative appeal before the Indiana Board of Tax Review, both parties presented …

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