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Accurate Property Taxes Can Help Your Golf Course

Throughout my experiences representing golf course owners in property tax appeals over the last three years, I have yet to come across a golf course whose assessment is not significantly overstated.

If you have received a tax value assessment for your golf course that seems unreasonably high, I can help. For 40 years, I, Randall P. Whately, have passionately represented residential and commercial property owners — including owners of golf courses — in property tax appeals throughout Michigan and across the United States.

How Your Golf Course Should Be Valued

The recent decrease in land values is not the only unaddressed problem in property taxation. Because of high gas prices and the poor general economy overall, people are simply golfing far less. This large drop in golf patronage has created an over-supply of golf courses and led to a steep drop in revenues. Being a golfer myself, I have witnessed tremendous reductions in green fees across the board. The decline in value from such economic factors is referred to as “external obsolescence.”

In Michigan, property is supposed to be assessed at 50% of the property’s fair market value. The three generally accepted approaches to golf course valuation include the cost approach, the income capitalization approach and the sales comparison approach. Assessors typically value golf courses using a cost approach.

In today’s environment, the income approach to property valuation is far better suited to accurately arrive at the fair market value of a golf course because it is uniquely capable of reflecting external obsolescence.

Properly pursuing an appeal on that basis will almost invariably result in substantial long-term tax savings for golf course owners. To see how I have successfully used this formulation in property tax appeals, please visit my recent cases page.

Let’s Discuss How To Improve Your Tax Rate Today

Call my office today at 734-335-1967 or send me an email to schedule your initial consultation. We can discuss how the value of your golf course was determined and address any concerns you may have. My goal is to save you time and money so you can worry less about tax details and more about maintaining your successful business.

While I’m available throughout most of the week, you can call me today to inquire about weekend and evening times that may work better with your schedule.