Hotel real estate tax theories and methodologies have long been a subject of controversy in separating the business value from the real estate.
Does it sound reasonable that the real property component for a hotel accounts for only 36% of its total property value?
This was the result quoted for a hotel property valued for a recent court case (Chesapeake Hotel v. Saddle Brook Township 1999) using the “business enterprise approach.” Calculating the same hotel’s value using the Rushmore approach, the figure was closer to 60% of total property value.
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