Property Tax Alert: Ohio

February 2007

The owners of a country club facility were not entitled to a reduction in their Ohio property tax valuation, because the appraisal evidence was not substantive, probative, and credible. The owners submitted valuation evidence using both the income and sales comparison approaches. However, the conclusions based on the income approach were predicated on the subject's unique membership fee structure, which didn't represent the state of the market for private country clubs. The conclusions offered by the owner's appraiser regarding revenue and expenses as compared to other local clubs and national surveys were questioned because not enough information and detail was offered to determine if the figures were reflective of the private country club market. The sales comparison approach data also was rejected based upon the appropriateness of several of the sales that were utilized and the treatment of them by the owner's appraiser.

Please contact Rash & Associates for more information.