This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


Tax Case Relating to Self-Storage Value Concludes in Pennsylvania


In a recent legal case brought before the Commonwealth Court of Pennsylvania, the board decided certain Guardian Self Storage facilities were correctly valued for real estate tax purposes based on actual financial results from the property. The trial court found the properties were optimally managed and a buyer could not reasonably expect to improve the financial performance.
In the case of Guardian Self Storage WD v. Board of Property Assessment Appeals & Review, No. 119 C.D. 2009, the court held that the facility’s actual performance is what a buyer in the marketplace could expect. The Commonwealth Court rejected the claim that the value amounted to a value-in-use and said it was instead a value-in-exchange.
Source: Mondaq News Alerts, United States: Self-Storage Facilities Correctly Valued

Related Articles:

Determining Self-Storage Facility Value: Understanding Income, Expenses and Cap Rates

Self-Storage Valuation: A Technique for Checking an Appraisal's Fairness

National Snapshot 2010: The Self-Storage Real Estate Market

comments powered by Disqus