Journal of Property Valuation and Taxation articles from March 2002

Journal of Property Valuation and Taxation archives from March 2002

Editors' notes.
March 22, 2002... Editors' Notes offers a brief introduction to articles appearing in this issue of the Journal of Property Valuation and Taxation. We hope you enjoy the Spring 2002 issue and welcome your comments. Though the fair market valuation method...

Correction.
March 22, 2002... Due to a printing error in the Winter 2002 issue, the author information for the Property Tax Trends column Regional Focus: The Northeast was inadvertently truncated. Below is the information in its entirety. Elliott B. Pollack, Marjorie...

Kentucky's administrative push toward value in use.
March 22, 2002... In the Commonwealth of Kentucky, since 1999 there has been a subtle, yet quite determined, administrative push toward "value-in-use" concepts for property valuations in tax matters. Kentucky Property Valuation Administrators ("PVAs") and the...

Caution: California property taxes for electric generating plants could rise due to misapplication of income approach.
March 22, 2002... Almost everyone is aware that in California a form of deregulation has taken place in the electric utility industry. This effort at deregulation resulted in cost-regulated electric utilities selling off their generating facilities to...

Valuation of the customer/client relationships intangible asset for property tax purposes.
March 22, 2002... The Financial Accounting Standards Board (FASB) recently issued two new statements that materially change the financial accounting for merger and acquisition (M&A) transactions. FASB Statement No. 141 is titled "Business Combinations."...

Developing depreciation schedules for computer hardware.
March 22, 2002... Municipal taxing authorities commonly apply mass appraisal techniques rather than asset-by-asset methods in determining assessments for ad valorem tax purposes on real estate and many other assets. The reason is dictated by practicality....

National roundup. (tax exemption cases)
March 22, 2002... Elderly Housing Exemption Denied A Connecticut thai court denied a property tax exemption for a home for the elderly. In Fanny J. Crosby Memorial, Inc. v. City of Bridgeport, (1) the superior court upheld the city assessor's denial of an...

State legislation roundup. (tax legislation) (Brief Article)
March 22, 2002... TENNESSEE Legislation in Tennessee limits waivers of payments in lieu of tax, among other provisions. SB 459 (Chapter 339) amended Tennessee Code Annotated Title 5, Title 6, and Section 7-53-305 concerning cost versus benefit studies for...

Consolidating for refinancing: strategies for reassessment avoidance.
March 22, 2002... A recent trend has been the consolidation of real property syndications/investments into a single purpose entity in order to obtain better bank financing. In these situations, the avoidance of a California property tax reassessment is no...

New California property tax laws.
March 22, 2002... The 2001 California Legislative Session produced several new property tax laws of interest. This column provides a brief summary of the major property tax legislation enacted this past year. (1) ASSEMBLY BILLS AB 136 (Corbett)...