Testing Minnesota Statute 117.186 as It Relates to Business Damages (Loss of Going Concern) in Condemnation – By Scot A. Torkelson
Introduction On September 9, 2008, a Court-appointed Commission recognized an important threshold of damages in the area of condemnation law. The decision (State of Minnesota v. Parcel 212 Kindercare) came thirteen months after the Interstate 35W bridge collapse which precipitated the condemnation and taking of the subject real estate. The taking closed and, ultimately, destroyed […]
Is Assessed Value Based on Market Rent or Contract Rent? – By Andrew T. Donahue
Walgreen Co. v. City of Madison On July 8, 2008, the Wisconsin Supreme Court reversed a 2007 Wisconsin Court of Appeals decision and remanded it for further proceedings. In the case of Walgreen Co. v. City of Madison, at issue are the 2003 and 2004 assessed values for two Walgreens properties in Madison, Wisconsin. Walgreens […]
Appraising Development Projects During Challenging Economic Times
Robert Strachota and Christopher J. Stockness (Shenehon Company) teamed up with Tom Gump (Neighborhood Development Partners) to produce this article for the Minnesota Real Estate Journal. The authors address the difficulty of valuing and marketing a development project in an economic downturn. Economic forecasters are guardedly optimistic as we enter the 4th Quarter 2008, but […]
A Persuasive Special Assessment Appeal
By: Wendy S. Cell In early 2008, Shenehon Company was part of a team of experts which appealed a special assessment on behalf of SJC Properties LLC in Rochester, Minnesota. The plaintiffs relied on legal counsel, appraisers, civil engineers and traffic engineers to contribute detailed information for each aspect of the analysis. Following is a […]
“Real Estate and Partial Interest Valuation” – By William C. Herber
Shenehon Company’s Clay Shultz Receives ASA Designation Shenehon Company is proud to announce that Clay Shultz has been awarded the Accredited Senior Appraiser (ASA) designation in business valuation from the American Society of Appraisers. Candidates for this designation must have five years of professional business valuation experience, successfully complete over 100 hours of valuation-specific coursework, […]
Successful Property Tax Appeals are Based on Solid Evidence: 200 Levee Drive LLLP v. County of Scott
File Nos. 70-CV-07-9031; 70-CV-07-9041 Tax appeals provide property owners with the opportunity to show that the subject’s assessed value is not in line with the values of similar properties. The burden of proof is on the petitioner who must present a solid appraisal supporting the case for reduced property taxes. To determine market value, the […]