News
Last Update :4/3/2019 Clubhouses, Changes in Tax Assessments and Golf Property Acquisition Opportunities
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Recently, Golf Property Analysts was retained in an interesting case where a dispute arose about the need for and size of a clubhouse to be constructed at a club that had been using a temporary facility since its inception. Given the seemingly never-ending discussion in the club industry about the size and finishes in clubhouses, I thought I’d explore the issue.
For many years, large and ornate clubhouses have been blamed for the economic failure of numerous clubs. In what have been challenging times for the club and golf industries, it stands to reason that the overhead of a clubhouse that’s too big or too elaborate can be economically devastating. How much clubhouse is needed?
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Historically, New York State has been among the few jurisdictions which taxed all golf courses and country clubs based on a continuation of their present use. That may change.
Proposed legislation in Albany which could have significant tax implications for all Clubs and golf course properties in New York. The pending legislation, Senate Bill S4420 (Carlucci) and Assembly Bill A6444 (Galef), would allow municipalities to assess golf courses and Clubs in New York based on the property’s highest and best use rather than its current use. Reportedly, the bill has already passed through the Assembly Real Property Tax Committee.
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This month, Golf Property Analysts introduces a new tool for our clients, and hopefully to soon be new clients. By clicking below you can access our website's tax assessment calculator tool, which can help you determine if your club is a candidate for a potential tax assessment review. If you have any questions, feel free to contact us either by email clicking below, or by phone at 610-397-1818.
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Contact us about this exciting new golf property acquisition opportunity by accessing the electronic confidentiality agreement by clicking below:
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