Real Estate Tax Issues

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Real estate taxes can have a significant impact on the bottom lines of for-profit healthcare entities and seniors housing operators. With recent court rulings in various states challenging the tax-exempt status of not-for-profit hospitals, these organizations need to be concerned in regard to their real estate assessed values as well.

Our real estate tax services can result in reassessments that can lead to significant property tax reductions for several years.  Our real estate valuation reports analyze the assessment of your existing property.  We can also estimate the value of the property after an improvement or purchase. We will examine your real estate, and equipment when appropriate, and compare the assessed value to the market. If there are discrepancies, we can suggest or negotiate a reassessment, or perform an appraisal for appeal, if necessary.  Expert witness testimony has been performed on numerous properties.

Healthcare and seniors housing entities turn to us to perform real estate tax analyses because:

  • They trust that our analyses will be accurate and fair, and will be performed in a timely manner
  • Our analyses are performed by professionals with specific expertise in the healthcare and seniors housing sectors who hold designations such as ASA, CPA and MAI
  • Our professional staff have specific expertise in all healthcare and seniors housing asset classes, including real estate (land and improvements), equipment, intangible assets, and business enterprises

Projects

  • Valuations for numerous large hospital systems and individual facilities in Illinois to comply with the Illinois non-profit exemption charity care law.  Our analysis complied with Illinois Senate Bill 294 and was utilized to successfully keep non-profit status for all hospitals
  • Valuations for a national nursing home operator for appeal of their ad valorem assessment, in some cases resulting in valuations of less than half the assessed market value

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Our clients have used Principle Valuation for valuations for purchase and sale transactions, compensation relationships, and support for tax purposes. They do straightforward and intelligent work, and are very responsive.

Scott Becker, Partner, McGuire Woods

We selected Principle because of their experience and reputation in the market. They are very knowledgeable about the industry, and particularly HUD financing. They were very thorough and hit their deadlines. Their appraisal went through HUD with no issues, which also made the borrower very happy.

Ken Buchanan, Senior Vice President and Chief Underwriter (Eastern Region), Walker Dunlop

Principle Valuation provides excellent valuations for ongoing healthcare enterprises, as well as placing values on the individual assets. They are very timely, reliable, have a solid understanding of the regulatory implications of their work, and are authoritative in the way they present their information.

Mike Anthony, Partner, McDermott, Will & Emery

Principle Valuation is far superior to any other valuation firm we have worked with. They are knowledgeable about businesses, real estate and equipment. And their reports are always right the first time.

Ken Doran, President and CEO, Spectrum Heatlh Partners

Contact

190 South La Salle Street, Suite 2900
Chicago, IL 60603
312.422.1010
info@principlevaluation.com