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……………..
We’ve had some exciting court decisions in the condominium field over the past year or so. Here are my Five
A judge has ruled that Effingham Green Condominium associations are responsible for repairs of faulty balconies identified a year ago,
Rep. Israel Renews Push to Make Condos, Co-ops, and Certain Common Interest Communities Eligible for Storm Recovery Grants
hree years after Superstorm Sandy hit New York, Congressman Steve Israel (D –NY) renewed his push and announced legislation that