Incompetence Means You Pay More!

During a modern property tax petition case we were shocked to hear the local property tax assessor make the statement, "Have him close the business and I'll think lowering the taxes". We looked at one other in sheer amazement and before I could notify the assessor that he had just admitted to taxing the business business as opposed to strictly the real estate, Clay had taken out a legal pad and said "Wait! Let me quote you on that!" The safe bet assessor gladly made the statement once again unaware of the fact Clay was indubitably documenting the quote to be utilized later while a formal appeals board hearing. Real Estate Taxes are just that, a tax that is attributable to the real estate only. This assessor made it quite clear that this personal care installation was being taxed, not only on its real estate, land plus improvements, but on the business business (intangible assets) linked with the business occupying the improved property.

Appraisal literature features an plentifulness of articles addressing the valuation of discrete properties with a focus on the segregation of intangible components from the tangible assets. Most state laws hold only real property and other tangible assets branch to taxation so the importance of separating these components of value is most apparent in property tax assessment. Intangible assets, though they may improve the value of the total operating enterprise, are not branch to ad valorem taxes.

Commercial property, especially nursing homes, personal care centers, assisted living center and hospitality owners should analyze their ad valorem tax obligation immediately. We continue to find that most assessors are incorrect in the way they are assessing these specialized types of properties. Many times these properties sell and exchange along with not only the real estate but the businesses themselves. The majority of the assessing officials will plainly collate the property at this sale price, which often times not only consist of the real estate but also the personal property and business business value (Bev) which is also referred to as going-concern value.

Valuing the going concern is fairly easy using discounted cash flow techniques or an income capitalization approach. The strangeness arises when there is a need to decompose the going concern value into the discrete elements as required for evaluation and condemnation assignments.

In distinguishing in the middle of Bev and real estate value, it is fundamental to identify that income generated from a business conducted within the real estate is not the accepted quantum of real estate value. Instead, that income is the value of the going concern. For many extra purpose properties, the business business component is substantial, so the potential for error is large if going concern value and real estate value are confused.

In using the income Approach, it must be kept in mind that the possession nursing home is more than a real estate entity consisting of land and buildings. It is a installation equipped and staffed for providing personal services. Recognition must be given to this factor in the form of a "business profit" to the owner of operator.

The real estate alone (land and buildings) is not the celebrated income-producing factor as in a installation such as an apartment building. A nursing home provides many personal services to its occupants as part of the charge for occupying a room or a bed. These consist of food, nursing care on a 24-hour basis, and a little estimate of entertainment....The possession nursing home is a "special use" property. As such, the shop is quite limited. Furthermore, the extra build limits the alternate uses for the real estate.

During a recently located case of a property containing both a personal care installation and an assisted living center, we argued that the personal care installation added no value and in fact was a determent to the ample property. This was based upon the Ky required cost arrangement of .80 per bed per day and that no economical investor would even exertion to buy the property and continue this center based on that income. This is attributed to the going-concern and was provided to the assessor to demonstrate the lack of current success of the business within the real estate. In expanding this property suffered an immeasurable estimate of functional obsolescence as it was constructed in 1969. The assessor agreed and explored alternative uses for the assisted living center and was also of the plan it did not report the top and best use of the property. The total evaluation was lowered from ,087,100 to ,000,000 with an every year tax recovery of ,267 or 6,337 over the next five years. The total savings are immeasurable as they are carried into perpetuity due to the fact there is a new beginning point (,000,000) in which the evaluation may be raised in the future.

The land and buildings are not the chief income-producing factors in a nursing home......The value of a nursing home is enhanced by its reputation and good will in the medical and nursing field and in the society at large.

If a firm is flourishing it does not want to sell except for a bonus; if it is bankrupt, it often sells at a business agreement upset price; and in neither case is true value measured. When Dodge Bros., automobile industry was purchased by capitalists, it was reported that an reduction of many millions of dollars in stock was paid for goodwill.

It is therefore easily understood that a law requiring property to be assessed at its actual value, its real value, its cash value, its shop cash value or its full cash value does not mean its "transaction value" where cash paid represents but a fraction of the sales price, nor does it mean the all cash price paid at a forced sale.

This intangible value is not generally taxable. A tax assessor is often confused when an market property sells at a form greatly above the assessed value. He has not the data at hand from which to fathom the intricacies of patent rights, goodwill, etc., and often the problem is left unsolved.

Ad valorem tax is one of the only taxes one pays that is based upon someone's plan of value. Incompetence means you pay more! Don't let an incompetent assessor cost you thousands of dollars by development you pay more than your fair share by along with Bev!

By Bryan S. Reynolds and Clay J. Wells

Incompetence Means You Pay More!

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Ways to Cover curative School

Trying to form out how to make healing school certainly affordable can be very difficult, not only do you need to take some time and think all of your options and choices, but you need to think how they will impact you for the long term as well. While trainee loans are all the time an option they can be very expensive, and hard to pay back at times production it very difficult to certainly get the help and aid that you need. In order to ensure you get something worked out that is within your budget, you need to carefully think the best choices that are available.

If you are thinking about beginning your occupation as a nurse or a healing assistant then you can often find scholarship programs that are designed to cover school. There are also work-study styled programs that will allow you to work to pay for school. Another option that is quite favorite is finding an boss to pay for the expenses; this typically requires that you agree to work for them for a exact estimate of time though in return. For example, you might find a place willing to pay for your instruction in return for agreeing to work for them exclusively for the next 5 years.

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While the choices of paying for school are quite varied, it is very important that you elect the best option for your needs, rather than trying to just conclude for the solution that you can just naturally deal with. However, comparing all of the dissimilar costs against all of the dissimilar benefits and negatives that each option will furnish you is very important. This will enable you to be certainly clear that you are getting the right solution for your needs, rather than naturally selecting something because you hope it is the right choice.

The decision about how to pay for your healing instruction should never be taken lightly and of course avoiding trainee loans as much as potential will enable you to get out of debt much faster. With the great pay that a healing job offers, it is certainly nice to not need to dedicate large percentages of your pay to trainee loans, but not all the time possible. Surrounding yourself with abundance of data that is correct is the best solution to ensure great results for yourself, as well as your budget.

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Do's and Don'ts When Appearing Before the curative Board Or Board of Nursing

The whole of complaints filed with the Texas medical Board and Texas Board of Nursing has greatly increased over the past several years. This influx of cases is due largely to Texas legislation that capped the whole of non-economic damages that patients could recover in a medical malpractice lawsuit against physicians, nurses and other condition care providers. And while Texas became a more welcoming state for physicians who appreciated the lower malpractice guarnatee and the lessened threat of a lawsuit, more patients now feel that their grievances are better addressed straight through the medical or nursing boards instead of the courtroom. Will you be ready if you receive a written observation of investigation into a complaint?

Your attorney positively should get ready you for what will happen when you find yourself in front of the medical or nursing board, but I would like to share my guidance on the coming you should take from the moment you find out that you will be meeting the panel.

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The "Dos"

1. Do dress professionally

You may believe you are demonstrating a dedication to your profession by arriving at your hearing in scrubs or wearing a stethoscope, but there will be other opportunities to prove that you are a serious member of the medical community. Instead, the firm attire that you would wear in any courtroom setting should be your clothing of choice for this leading day.

2. Do be willing to admit to error

The board will be more lenient if you retort that maybe your best efforts were not demonstrated during the instance in question. As with Americans and their elected leaders, an honest apology goes a long way in mending a wrongdoing. Of course, your legal counsel should be very faithful in advising that you to not testify to matters that may be self-incriminating or self-indicting.

3. Do reinforce your position with documentation

The best way to avoid your day in front of a board panel is to be faithful in your words, actions, and decisions. Nurses need to know everything inherent about their responsibilities regarding report keeping, how to furnish optimal patient safety, and the procedures to succeed when leaving an assignment. Doctors must always be polite and honest with patients, and be standard in documentation and reporting. A solid paper trail that supports your side of the story is one of the strongest weapons that you have at your disposal.

4. Do accept the decision of the board panel

Once both sides have presented the facts, witnesses have spoken, and you have had a chance to share your recollection of the incident, the board is going to issue its decision. If the complaint against you is found to have merit, the panel will share its recommendation for a penalty. You still will find that there is some room to negotiate. And if that fails, you will have the chance to motion the decision to the State Office of menagerial Hearings (Soah), at which time an menagerial law judge will be assigned to the case and a more formal trial ideas takes over.

The "Don'ts"

1. Don't ignore notices from the boards

Like the electricity bill and those weekly phone calls from your mother, notices that you receive from the medical or nursing board must receive a response. Pretending an allegation against you does not exist is not a wise way to speak your innocence.

2. Do not circumvent the chain of command

Perhaps your beloved cousin is a staffer for your state representative and you think that a good word from the legislator would make this problem disappear. Or, you are considering a phone call to the local newspaper to share the unfair accusations that are being made against you. Do not circumvent the process. Be a strong advocate for yourself, but do so within the legal system.

3. Do not expect your attorney to do most of the talking

The members of the board panel want most of the discussion to be directly with you. You must be thoroughly ready on the facts of the complaint; the details can be presented on your behalf, and your version of the events that prompted the hearing in the first place. If you permanently defer to your legal counsel, your competence and trust in your own actions will be questioned and remain under serious scrutiny.

Conclusion

To be certain, no medical expert wants to be brought before a retell board to defend his or her practices against the complaints of an unhappy patient, medical expert colleague or employer. However, if you find yourself in that situation, you want to know that you are taking every step inherent to insure the best outcome. Your license, livelihood and prestige as a physician or nurse may be at stake. By knowing what to expect before that board observation ever arrives in the mail, you are creating the circumstances for a pleasant resolution to the complaint process.

Do's and Don'ts When Appearing Before the curative Board Or Board of Nursing