Cumming, GA. (January 12, 2009) – Lanier Golf Club, Hampton Golf Village, and Country Land Golf Course in Cumming, GA have been granted substantial property tax relief. All three courses employed Tax Profile Services, Inc. (TPS) to determine whether their property’s valuation and subsequent real estate taxes were accurate and fair. (TPS), using their expertise in golf course valuation, was able to gain a substantial (35-75%) reduction in the Forsyth County’s appraised value for each property. This equated to the same percentage reduction in annual property taxes for a period of at least 3 years, which is a much welcome addition to the bottom line in this economy.
(TPS) collected all of the necessary data to substantiate a reduction on the club’s 2007 real property values and filed an appeal on each club’s behalf with the Board of Equalization (BOE). The data presented to the BOE substantiated inadequacies inherent in their reliance on the Cost Approach for appraisal and introduced the data necessary to consider using an Income Approach, a much more accurate method to determine golf course real property value.
Golf Tax, LLC (GT) and TPS are partnered to provide golf courses nationwide a dynamic and cost effective service designed to ensure golf course owners are paying their “fair” share of property taxes, and not a penny more.
IT’S SIMPLY A FACT. OVER 90% OF ALL U.S. GOLF COURSES ARE VALUED INCORRECTLY AND THEIR OWNERS ARE PAYING TOO MUCH PROPERTY TAX……….MOST OFTEN A LOT TOO MUCH!
Why? ……… Assessment authorities almost universally rely upon the “replacement cost approach” for valuation purposes. Within this approach little or no consideration is given to such issues as value transfer, business value, intangibles, local market conditions, or personal property contribution to overall value.
The bottom line is that course owners aren’t asking for a tax “break”, but they are asking that they be taxed fairly and accurately.
What sets GT and TPS apart is that they are represented by one of only a very small handful of nationally recognized experts in the field of special use property appraisal, specializing in golf course tax issues. Most attorneys, accountants, and appraisers, are very good at what they do………….. But special use property appraisal for ad valorem property tax considerations is just NOT “what” they do on a regular basis.
Visit www.georgiagolftax.com for more info.
Contact:
Bruce MacLennan, Co-Founder
Golf Tax, LLC Main Office
Phone: 937-768-4653
Email: info@georgiagolftax.com
