K&C successfully wins HOA tax appeal

A homeowners association sought to reduce its taxes on a common element parcel.  A complaint for valuation of real property was filed with the County’s Board of Revision.

Kaman & Cusimano successfully argued in front of the Board of Revision that the association should only be paying a nominal value on the parcel as it was required to be open space by the city’s ordinances.  The Board of Revision agreed and reduced the parcel’s value by over $150,000.

Categories

Three bars icon gold

Recent blog Posts

Three bars icon gold

Did Fannie Mae Just Update its Condominium Lending Guidelines Again?

Maintaining mortgage eligibility is one of the most important aspects of protecting property values. If your condominium ...
Read More →

Are Reverse Mortgages a Hidden Risk for Your Association?

Reverse mortgages allow homeowners aged 62 and older to convert home equity into cash without ...
Read More →

What is a reasonable late fee for delinquent community association assessments?

Community associations depend upon the timely payment of assessments to maintain operations and protect property ...
Read More →

Owner to Owner Dispute – Lessons in Property Transactions

Owner to Owner Dispute – Over a Driveway Easement and Boat Slips:  A recent case perfectly illustrated the importance ...
Read More →