![]() ![]() New Jersey Tax Court Revokes Property Tax Exemption for Ambulatory Care Facility The county filed a motion for reconsideration, which is pending. Instead, the court stated that a market rent approach is not the only method of valuation for government subsidized low income housing and that a contract rent approach is an appropriate valuation method where those contract rents do not exceed generally available market rents. of Revision, 151 Ohio St.3d 12, 2017-Ohio-2734, 85 N.E.3d 694 ( Network Restorations III) as requiring, in all circumstances, a market rent approach for valuing government subsidized low income housing. Most notably, the court rejected the county’s interpretation of Columbus City Schools Bd. ![]() The Ohio Supreme Court’s recent decision provides property owners with clarification about the approach for valuation of certain government subsidized low income housing. 2, 2018) (request for reconsideration pending) Ohio Supreme Court Clarified Taxation of Affordable Housing Property For further insight into these decisions, please contact your Vorys lawyer. The following are property tax decisions of interest from around the country from January and February 2018.
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