{"id":119,"date":"2015-01-27T21:48:33","date_gmt":"2015-01-28T02:48:33","guid":{"rendered":"https:\/\/golfcourseownership.com\/?p=119"},"modified":"2015-02-01T09:48:30","modified_gmt":"2015-02-01T14:48:30","slug":"day-statehouse","status":"publish","type":"post","link":"https:\/\/golfcourseownership.com\/?p=119","title":{"rendered":"Senate Property Tax Hearing"},"content":{"rendered":"

\"statehouse<\/a><\/p>\n

Senate property tax hearing\u00a0today.\u00a0<\/strong><\/p>\n

I really have nothing to gain personally; my assessor resigned after my PTABOA hearing so I have a new assessor. \u00a0 Today it was\u00a0all about trying to improve the system. \u00a0Most assessors are fair but some are convinced.\u00a0 I don\u2019t envy their job of trying to determine a value on properties that are of all types and sizes.\u00a0 They cannot be an expert on all properties so they need our help in understanding our business.\u00a0 Residential is pretty simple but when it comes to business it is tough.\u00a0 Golf courses used to be assessed in Indiana on\u00a0a per hole cost basis.\u00a0 The assessors had to depreciate and take obsolescence on the per hole values right away because they were too high to start with (23,000-163,000\/hole).\u00a0 And even more aggravating was the fact that the values were very ambiguous using yardage, par and other non-tangible entities to arrive at a value for reproduction costs.\u00a0 When Indiana went to a fair market value law for property tax then the reproduction costs schedule really went out the window.\u00a0 Unfortunately some assessors continued to assess by the old way even though it was not according to Indiana Statue.\u00a0 The sad truth is …….\u00a0if golf courses were now assessed correctly using the old method; most\u00a0courses today would be paying more in property tax than their net\u00a0revenue. \u00a0Before the law changed, assessors had to arrive at a value that the golf courses could live with while making them think that they were getting a deal; it was all a matter of negotiation. It had been that way since 1973 when I began to look at all business aspects of running a golf course. \u00a0The new capitalization of income method it is cut and dry, the figures are taken off of the federal tax return, no fudging or cheating.\u00a0 Very simple, very easy, very quick and very accurate; reflecting\u00a0what an investor would pay for the property if purchased for the same use.<\/p>\n

Today I was able to speak in committee to a bill on property tax issues, I was urging legislators to build some accountability into a bill that hopefully will become law\u00a0that will discourage rogue assessors. \u00a0I hope my ideas are considered and implemented\u00a0because I think it will help.\u00a0\u00a0I was encouraged when a committee person asked for my ideas in writing.\u00a0 Tomorrow morning he shall receive my thoughts in writing.<\/p>\n

While at the Statehouse I spoke to 3 other Representatives and 4 Senators on other bills that I have been following that I have an interest in.\u00a0 Very tiring day but I think all and all it was very productive and in all cases the legislators were very receptive to my ideas.\u00a0\u00a0 The topics included; property tax (2 bills), liability on athletic complexes used for kids, stream drainage issues and broadband deployment. \u00a0I also sat in one\u00a0other House committee hearing on Indiana Building Code issues, just for the education.<\/p>\n

It is a real privilege to be able to participate in the legislative process and certainly legislators appreciate that citizens take an active part.\u00a0 It is necessary for a free government to have citizens participate in the legislative process.\u00a0 It is kind of a check and balance.<\/p>\n","protected":false},"excerpt":{"rendered":"

Senate property tax hearing\u00a0today.\u00a0 I really have nothing to gain personally; my assessor resigned after my PTABOA hearing so I have a new assessor. \u00a0 Today it was\u00a0all about trying to improve the system. \u00a0Most assessors are fair but some…
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