Author archive: mopropertytax

Lewellen v. Franklin: Missouri Supreme Court Holds Statutory Cap on Punitive Damages Unconstitutional

On September 9, 2014, the Missouri Supreme Court unanimously struck down the State’s punitive damage cap in Lewellen v. Franklin, 2014 WL 4425202 (Mo. banc Sept. 9, 2014). The plaintiff in Lewellen was a 77-year-old widow with less than $1,000 of monthly income who contracted to purchase a vehicle with National Auto Sales North’s (“National”)…

Interstate Commerce and the “In Transit Property” Tax Exemption

I recently had a client whose corporate jet was hangared in State A for repairs as of State A’s annual property tax assessment date and remained there for 6 months after the assessment date.  Client is not a citizen of State A, but does have some business interests there (unrelated to the corporate jet).  State…

Contract Rent v Market Rent—A Tool to Exclude Intangible Value from ad valorem tax assessments

How do favorable rental rates in a lease agreement affect the value of real estate for tax purposes?  If I appeal my tax assessment, should I show my lease to the assessor?  What effect do rental rates in other lease agreements in the market place have on the value of my property?  Questions just asked…

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