Reaction to the Recent Florida Fifth District Court of Appeal Disney Yacht & Beach Club Resort Decision

Daniel Lesser | August 19, 2020

By Daniel Lesser The monograph “The Valuation of Hotels and Motels” by Stephen Rushmore, published by the American Institute of Real Estate Appraisers in 1978, posited the first accepted methodology for separating out income attributable to business (“intangible asset”) and income attributable to personal property from the entire income stream of a lodging facility.  The procedure, which to this day continues to reflect the thinking and actions of hotel sector market participants, has been termed the “Rushmore Approach” within the property tax arena. On June 19th, 2020, The Florida Fifth District Court of Appeal issued a fl...