Thursday, December 11, 2025

8:15 – 9:15 AM
Cases of Note in Your Jurisdictions
Thomas A. Jaconetty, Esq.
Review, analysis, and discussion of State Supreme and Appellate Court decisions, in addition to those of State Tax Tribunals, Boards of Equalization, Specialized Tax Trial Courts, and Tax Appeal Boards or Commissions, illustrating significant procedural, substantive, and exemption developments since the December 2024 IAAO Legal Seminar.  These cases are taken from a variety of jurisdictions, including AL, FL, IL., IN, KS, MN, NY, NJ, OH, OR, TX, UT, WA, and WI. (As research continues, other states may be represented.) I have made this type of presentation for the IAAO Annual Legal Seminar for some 20 years

9:15 – 10:15 am
Problems with Valuing Utility Properties
The valuation of utility properties such as gas-fired and nuclear power plants for ad valorem tax purposes presents many challenges due to the highly regulated nature of these industries and the interweaving of non-real estate assets within the overall structure of the plant itself.

For example, power purchase agreements which support the revenue of the facility need to be addressed. How to factor in exemptions, bonus depreciation and liberal investment tax credit rights?

How should remediation expenses to deal with coal tar residues and spent nuclear fuel bear on valuation?  What role does specialized management play? What is highest and best use of a property which requires extensive permitting which may be grandfathered and not available to new operators?  Do the sales and income approaches have any viability, or must a real estate appraiser first begin with a valuation of the entire business itself?  How should the appraiser take into account zoning non-conformities?  What role does the cost approach have in the valuation process, if any?

10:30 – 11:30 AM
Anatomy of a Tax Assessment Case
Michelle Drea & Jason Donker
This session will outline the origin, form, and function of each step in a property tax assessment case. We will spend extra time on the discovery step to explore accessing salient data effectively. Federal Rules of Civil Procedure and Federal Rules of Evidence are used as references for discussion, with specific state law distinctions included when relevant.

11:30 AM – 12:30 PM
Affordable Housing Property Tax Exemptions
Tiffany Pinkstaff
In 2023, Florida enacted the “Live Local Act,” which was designed to increase the availability of housing to individuals with extremely low to moderate income by providing land use, zoning and tax incentives for the development of affordable housing.  As part of the Live Local Act, certain property owners are eligible for affordable housing property tax exemptions.  Specifically, portions of property in a multifamily project are eligible to receive an exemption if such portions are within a newly constructed multifamily project that contains more than 70 units dedicated to affordable housing.   However, Florida property appraisers have different opinions as to what qualifies as a newly constructed improvement for purposes of the exemption.  Does the statute contemplate only brand-new construction built from the ground up, or does the statute also include newly renovated or remodeled properties?  If newly renovated or remodeled properties are eligible, what level of renovation is enough to qualify?  This presentation will explore different interpretations of the law and invite discussion regarding affordable housing property tax exemptions both in Florida and in other states.

1:30 – 2:30 PM
Debating the Hot Topics
Will Shepherd, J.D. & Thomas Wilhelmy
Attorneys Thomas Wilhelmy and Will Shepherd have been litigating property tax matters for decades – on opposite sides of the issues.  In this presentation, they will present their viewpoints on some of the more contentious matters in property tax litigation, including Hotels and Intangibles, Big Box and Dark Store Theories, and Fee Simple/Leased Fee arguments.

2:30 – 3:30 PM
The Dilemma in Assessing Marijuana Cultivation Facilities
Kevin Rudden
This presentation focuses on the dilemma of assessing marijuana cultivation facilities: First, every state in which marijuana is legalized sets its own regulations regarding their operations and usually there are no regulations or guidelines on how to assess them.  Second, what is real estate and what is tangible personal property?  One of the largest costs for any such facility is for climate control that usually becomes an integral part of the building. Whether it is personal property or part of the real estate becomes a point of contention during appeals.  Another question involves state regulations: Is it a manufacturing facility or not? This becomes an issue in states like Massachusetts, where personal property in a manufacturing facility is tax-exempt.

3:45 – 4:45 PM
Holy Cow! The Valuation of Wrigley Field and Other Special Purpose Sports Facilities
Christina Lynch, Will Shepherd, J.D., Michael Piper, & Mildred Terzic
This session dives into the unique challenges involved in valuing sports facilities. Participants will receive an overview of the cost approach and how it applies to these properties before examining case studies, including the valuation of Wrigley Field, the United Center, and a brief valuation history of Arlington Park. The session will further highlight key sports stadium statutes and comparisons to other sports stadiums, concluding with an open Q&A.

Friday, December 12, 2025

8:00 – 9:00 AM
Special Purpose, Special Problems: A Case Study in Hospitality Valuation and Functional Obsolescence
Shawn Wilson, MAI
Explore the real-world challenges of appraising a special purpose hospitality property located on the waterfront in downtown Norfolk, Virginia. Once a vibrant Rouse “festival marketplace,” the property underwent major renovation in 2017 — only to face declining performance and contentious tax appeals during and after the pandemic.

This session examines a legal challenge in which the taxpayer and local assessor reached sharply different conclusions regarding depreciation and functional obsolescence. You’ll hear directly from the appraiser retained by the assessor’s office, who will compare and contrast the valuation strategies used in the Cost, Sales Comparison, and Income Approaches.

You’ll gain insight into:

• Appraisal techniques for measuring obsolescence under each approach to value
• What functional obsolescence looks like in special-purpose properties
• How unfinished building areas can impact obsolescence calculations
• Why disputes of this type can hinge on valuation methodology rather than “comps”

Ideal for attorneys and valuation professionals handling complex property tax matters, this presentation provides litigation-ready insights into the valuation of a high-profile, high-stakes asset.

9:00 – 10:00 AM
Turning the Tables: Attacking Valuation Experts in Equity Appeals
Lee Winston & Tyler McCarty
This session examines how expert testimony shapes equity appeals. With perspectives from both taxpayer and appraisal district counsel, the presentation focuses on practical strategies for challenging—or defending—valuation experts in unequal appraisal litigation.

Drawing on recent Texas case law and live trial examples, the speakers will highlight common pitfalls in expert valuation methods, expose frequent lines of attack on reliability, and discuss strategies for both defending and dismantling appraisal opinions. The discussion will also touch on the use of sales comparisons and mass appraisal critiques in the courtroom. The session will conclude with a comparative survey of similar litigation trends in other states and the role of expert evidence in those jurisdictions.

Tyler McCarty, who represents appraisal districts across Texas, and Lee Winston, who represents major taxpayers statewide, bring hard-earned insight from both sides of the fight. Whether you’re looking to dismantle an expert on the stand or keep one standing, this session delivers real-world tactics for the courtroom.

10:15 – 11:15 AM
Mega-Mansion Valuations, Unrestrained Riparian Rights, & Country Club Challenges
Andrea Raila & Emily Frank
This presentation presents 3 once-in-a-lifetime over- and under-assessment scenarios that beg for a fix. We review assessment values of a private county club established in 1895. The Saddle & Cycle Club was granted public lands in 1947 as a tax-free “gift” from the Park District. The 4.5-acre “gift” still goes untaxed and is still very private 78 years later.

Private, wealthy, north shore mansion owners with riparian rights along pristine Lake Michigan beaches appear to have no on-duty Lifeguard Assessors. Mansion owners have squatted on public lands for decades with no property taxes for those breathtaking views.

New Trier Township in Cook County is home to some of the nation’s wealthiest mega-mansion owners whose annual incomes average $450,000. A dearth of sales data causes gravely inaccurate overassessments of multi-million-dollar mansions in an assessment Robin Hood twist on assessment injustices.

11:15 AM – 12:15 PM
Property Tax Caps/Proposition 117—An Introspective Analysis
Michael Combrink, Esq. & Ed Hermes, Esq.
Arizona voters passed Proposition 117 by ballot initiative in 2012, and it became effective in 2015. The law’s primary purpose was to decouple taxable value—referred to as Limited Property Value (LPV)—from market conditions, represented by Full Cash Value (FCV), for locally assessed property taxes in Arizona. After 2015, a property’s LPV could increase by no more than 5% annually, regardless of changes in FCV.

Over the past decade, Proposition 117 has significantly impacted Assessor’s Offices, property taxing jurisdictions, and taxpayers across the state. While some effects—such as capping assessed valuation and limiting local levy capacity—are well documented, others are more nuanced. Notably, the law has contributed to widening gaps between LPV and FCV in certain property tax classifications.

This presentation offers a historical examination of Proposition 117’s impacts and explores what it means for Arizona assessors, appraisers, taxpayers, and residents—now and into the future.

1:15 – 2:15 PM
Which Is to Be Master: The Meaning of Words and Statutes
Joshua Wood, J.D., MAI, AI-GRS
This talk introduces non-lawyers to the foundational tools and concepts used in statutory interpretation—the process by which courts determine the meaning of legislation. Key sources of definitions will be discussed, including statutory definitions, dictionary meanings, common usage, and related legislative texts. Traditional canons of construction, such as ejusdem generis (of the same kind), noscitur a sociis (a word is known by the company it keeps), and expressio unius est exclusio alterius (the expression of one thing implies the exclusion of others) will be explained as aids to resolving ambiguity.

The session will also explore major theories of statutory interpretation: textualism, which focuses on the ordinary meaning of the statutory text; intentionalism, which seeks to uncover the intent of the lawmakers; and purposivism, which considers the broader goal or purpose behind the law. Through accessible examples and clear explanations, the talk will demystify how legal professionals interpret statutes and why these methods matter in everyday legal decisions.

2:15 -3:15 pm
Ensuring Assessment Quality through Public Policy that Promotes Oversight—Case Studies from Idaho and the Netherlands
Alan Dornfest & Marco Kuijper
Property tax system administration may occur at national and sub-national levels and includes identification and valuation of taxable property as well as billing and collection. Effective systems are based on sound legal principles that promote high-quality administration. Such systems incorporate internal and external oversight, which are crucial to provide accountability and increase public trust in the system and its elements. The existence of an oversight body operating independently from primary valuation agencies enables independent corroboration of adherence to laws and good valuation principles and practices.

The presentation focuses on comparing valuation-related oversight responsibilities in two jurisdictions, the State of Idaho and the Netherlands. The comparison is done against the background of international standards and common practices as evidenced by recent survey results, which looked at oversight functions in each U.S. state, Canadian provinces, and participating nations outside North America. Commentary will provide perspective from a taxpayer-oriented organization (COST) as well as governmental oversight agencies. The results of this comparison can help other jurisdictions to evaluate and improve their own property tax oversight systems. It is hoped that the presentation will encourage discussion leading to stronger and more consistent oversight practices and better mass appraisal valuation quality assurance.

3:30-4:30
Adjusting the Temperature of AI LLM Prompts to Encourage More Reliable Outcomes in Property Tax Determinations
Ted Smith
This presentation frames how property tax lawyers can adjust their practice to incorporate generative artificial intelligence (GAI) in a manner consistent with legal ethics. Each ethical rule is paired with a key GAI technical concept to help lawyers apply sound professional judgment when relying on these tools in client representation. Under Rule 1.1 (Competence), lawyers and government officials must understand what AI systems can and cannot do. Rule 1.6 (Confidentiality) requires evaluating whether the use of public or commercial platforms risks exposing protected taxpayer information. Rules 3.3 and 3.4 (Candor and Fairness) emphasize that AI-generated summaries and draft materials must be verified, because submitting inaccurate or “hallucinated” content can constitute an ethical violation even if the error originates from the model rather than the lawyer.

The program concludes by observing that property tax administration offers a uniquely suitable environment for responsible AI experimentation, as the relevant data is largely public, auditable, and standardized. This environment allows attorneys, appraisers, and policymakers to explore the benefits of GAI tools while maintaining compliance, transparency, and public trust.