Best Practices for Managing the Property Valuation Process for Acquisitions in the Senior Housing Industry
The silver tsunami significantly impacted the senior housing industry by creating increased demand for senior living. As opposed to new construction, many owners and operators choose to acquire, remodel and rebrand existing facilities as a means of meeting the demand in relatively quick time and at a reduced cost. In most taxing jurisdictions the acquisition is reported to local taxing officials and conveyance taxes are levied on the value of the real estate. To control the effect of the acquisition on local property taxes and state and local transfer taxes, it is imperative that only the value of the real estate and not the tangible and intangible personal property be correctly reported. The appraisal of the real estate process is a critical component in any acquisition and can impact the cost of the acquisition and lead to over taxation, thereby, derailing efforts to be cost effective.
Join this interactive forum for discussion on:
- The potential increased costs associated with not properly reporting the acquisition and managing the valuation process effectively
- How appraisers value real estate versus a going concern
- The difference between market value and book value from an accountant’s perspective
- Strategies to handle disputes/disagreements about the reported value
Speakers:
Christopher E Koenig PT, DPT, MBA, NHA, President and Chief Executive Officer, Niagara Lutheran Health
Donald O. Thompson, Jr., CEO, Maxwell Group
Lauren Trilling, Senior Vice President, Stout
Lena Henderson, Attorney, Abbey Road Tax Consultants
Allen Lefkovitz, Principal and Founder, Abbey Road Tax Consultants
