We have helped property owners save tens of thousands of dollars in annual taxes, in many cases without having to incur significant litigation expenses. We frequently consult with property owners and tax assessors relative to appropriate levels of valuation for hotel and golf properties. Taxing authorities are frequently challenged with limited resources to focus on specialized properties like hotels and golf clubs. We have worked with taxing authorities during their revaluations to help establish schedules of values for hotel and golf properties. In other situations, we have helped assessors on individual properties whether during the initial assessment process or during post-assessment disputes. Our services including appearing before local and state taxing authorities, boards, commissions, and courts.
Real estate taxes are a significant fixed expense for hotel and golf properties and should be reviewed periodically. Property tax savings flow straight through to bottom line EBITDA. The calculation of property taxes begins with an estimate of market value, thus the term “ad valorem” taxes.
The term ad valorem is derived from the Latin ad valentiam, meaning “to the value.” It is commonly applied to a tax imposed on the value of property. Real property taxes that are imposed by the states, counties, and cities are the most common type of ad valorem taxes.