One of the largest expense items for most hotels is the cost of their property taxes. Property taxes are generally based on the value of the real property component. Excluded from the real property is the personal property (furniture and equipment) and the value of the business. Since most of these components are transferred during a sales transaction relying on the sales price overstates the value for property tax purposes.
There are many theories for how assessors should isolate the value of the real property component. The two main theories are the "Rushmore Approached" (named after me) and the "Business Enterprise Approach." Each approach has their own advocates.
This collection of 15+ articles describe both approaches with articles and court decisions. If you are a hotel owner, a property tax rep or an assessor you need to read all these articles.
Price for the Collection of 15+ Articles on Hotel Property Taxes: $75
Price for individual articles: $25/article (to order individual articles contact steve@hotelvaluationsoftware.com)