Condo Converters Face a Taxing Question

What's a developer to do? With property tax laws varying so widely from state to state, it's difficult to give blanket advice. But [Andy Raines] did say that "timing is very important. To the extent the developer can postpone [assessment] at the full value, they may sell the units by...

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Bibliographic Details
Published in:Multi - Housing News 2005-07, Vol.40 (7), p.6
Main Author: Allen, Angela C
Format: Article
Language:English
Subjects:
Condominiums
Conversion
Developers
Property taxes
State court decisions
Online Access:Get full text
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Summary:What's a developer to do? With property tax laws varying so widely from state to state, it's difficult to give blanket advice. But [Andy Raines] did say that "timing is very important. To the extent the developer can postpone [assessment] at the full value, they may sell the units by then, and after they sell, it's the buyers issue."
ISSN:0146-0919