May, 2018 - In this issue

A Big Step Forward for Augusta National & Golf
Social Progress in Golf Takes a Hit in York, PA
Personal Property Allocation in Tax Assessment Valuation
Update - Arlington County, Virginia
Just Listed
The GPA Practice Tee

AUGUSTA NATIONAL TAKES A BIG STEP FORWARD

As many of you may have heard by now, new Augusta National Chairman Fred Ridley announced today the establishment of the Augusta National Women’s Amateur Championship, to be held starting next year in the week preceding the Masters Tournament.

Having written on many occasions about the challenges golf has had in reaching out to the “3-M’s” (Millenials, Minorities and Moms), I strongly believe that Augusta National Golf Club (ANGC) has taken a giant leap in the right direction, and is providing leadership in encouraging women into the game. This can only help turn the tide of diminishing participation and motivate more women and girls toward playing our wonderful game.

CAN GOLF TURN A LEMON INTO LEMONADE?

In some very disappointing news, a golf course in York, PA expelled 5 women from the premises as described in the Washington Post and numerous other media outlets around the country and around the world recently.

Since I wasn’t there, didn’t see what happened and can’t pass judgement, I’ll refrain from doing so. However, our grand old game most definitely has an image and culture problem. Earlier in April, Augusta National Golf Club made great progress in establishing the Augusta National Women’s Amateur, signaling progress in what I call golf’s “culture war” by recognizing women in a positive way. Unfortunately, in York last week 2 segments of the “3 M’s” (Minorities and “Moms”) weren’t so fortunate and have claimed racial discrimination.

ALLOCATION IN TAX ASSESSMENT VALUATION

An interesting issue arose in a recent tax assessment case where Golf Property Analysts provided appraisal services to the owner of a multi-course golf facility.

In the appraisal of any golf facility for ad-valorem tax assessment valuation, a key element is the allocation of real and personal property. As I note in my 2016 book Golf Property Analysis and Valuation – A Modern Approach, None of the methods described in this chapter are foolproof. The appraiser faces the test of reasonableness, analyzing allocation in a convincing manner, and choosing a methodology that suits the specific situation at hand.

In the case referred to above, the question was which of the several approaches were appropriate. There are several mentioned in the book and the debate in this case came down to two methods known as the Management Fee Technique and the Excess Profits Technique.

UPDATE - VIRGINIA

Last month, we wrote about how golf properties should be assessed and taxed (click on graphic) and shared the story of the two clubs in Arlington County, VA that sought tax relief from the state of Virginia, that was approved by the legislature. After considerable debate and significant political pressure from both sides, Governor Ralph Northam vetoed the measure and has encouraged the two sides (the clubs and the county) to work out a compromise. It has recently been reported that "a deal is close" and Chip Shots will keep you updated.

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