Reductions in Property Value Due to the Presence of Construction Defects

Last month the Oregon Supreme Court recognized and seemingly affirmed a strategy to reduce taxable property value due to the existence of construction defects. In Oakmont, LLC v. Oregon Dept. of Revenue (2016), the owner of an apartment complex valued at approximately $21million negotiated with the county assessor to reduce the taxable value by sixty and seventy percent respectively for two years. The owner sought a similar reduction for an earlier tax year based on the presence of a “likely error” in the assessor’s valuation then, but was denied.    Read the article……………..


Related Articles

Money pours into legislative races as construction defects debate rages (CO)

Millions of dollars have flowed into state legislators’ campaigns in recent years from both sides of the contentious construction defects

Limitations on Community Association Approval or Denial of Service Member Rental Applications (FL)

Effective July 1, 2016, § 83.683, Florida Statutes, requires landlords, condominium associations, cooperative associations and homeowners associations to process rental

Hard Rock condo buyers lose legal fight (CA)

Investors who claimed to have lost millions when they bought condo units at the 420-room Hard Rock Hotel in San