Institute for Professionals in Taxation - Siegel...

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Institute for Professionals in Taxation®

40th Annual Property Tax Symposium

Tucson2 0 1 6

November 13 - 16 The Westin La Paloma Resort

Concurrent Breakout Sessions (Select 1 of 4)

Tuesday9:30-10:30am

• Advanced Property Tax Forum Part II: Hurdles to Fair Taxation I (Attendance is limited)

• Cost Segregation• Proving Depreciation• Sales Comparison Approach & Responding to Portfolio Sales

(repeated at 10:45 am)


Tuesday10:45-11:45am

• Advanced Property Tax Forum Part III: Hurdles to Fair Taxation II (Attendance is limited)

• Identifying and Valuing Intangibles: More than just the “Leftovers”• Business Personal Property Tax Compliance: Best Practices• Sales Comparison Approach & Responding to Portfolio Sales

(repeated from 9:30 am)

11:45-12:15 Lunch sponsored by: Pivotal Tax Solutions

Tuesday12:15-1:15pm

Industry Roundtable Discussion Sessions• Energy• Equipment Leasing• Healthcare/

Senior Living• High-Tech/Tele-

communications

• Hotel• Industrial• Manufacturing

Plants (Personal & Real)

• Multi-Family

• Office• Oil & Gas• Retail• Retail - Big Box/

Anchor Tenants


Tuesday1:30-2:30pm

• Valuation of Renewable Energy Projects• Co-Sourcing Drawbacks & Benefits• Burden of Proof in Property Tax Appeals


Tuesday2:45-3:45pm

• Intricacies of a Property Tax Due Diligence Review• Valuation of Corporate Campuses • Real Property Roundtable• Personal Property Roundtable

5:30-7:00pm Networking Social Hour Sponsored by: evcValuation LLC

WEDNESDAY, NOVEMBER 16, 20167:15-8:15am Continental Breakfast (For guests of hotel residing under IPT’s group rate)

8:00-9:00am GENERAL SESSION: Finding the Market Value of the Fee Simple Interest for Big-Box and Free-Standing Retail

9:15-11:15am GENERAL SESSION: Ethics Rock Extreme!11:15am ADJOURN

Charging Station Sponsor: Pullman & Comley, LLC

November 13 - 16, 2016 Tucson, Arizona

SUNDAY, NOVEMBER 13, 20164:00-7:30pm Registration5:00-5:30pm New Member Welcome Session/Reception5:30-7:00pm Welcome/Networking Social Hour

MONDAY, NOVEMBER 14, 20167:00-8:00am Continental Breakfast Sponsored by: Herman Katz Cangemi & Clyne, LLP8:00-8:30am Opening of Symposium 8:30-9:30am GENERAL SESSION: Property Tax 2.0 – What’s on the Virtual Horizon?9:45-10:45am GENERAL SESSION: Managing a Property Tax Lawsuit11:00-Noon GENERAL SESSION: State Fiscal ConditionsNoon-1:00pm Lunch Sponsored by: Archer & Greiner, P.C.


Monday1:15-2:15pm

• In-Depth Cap Rate Review (repeated at 2:30 pm)• Arizona Property Tax System & Maricopa County Assessment Practices• Tax Incentive Agreement Compliance• Valuing Golf Courses in New York and Across the Country


Monday2:30-3:30pm

• In-Depth Cap Rate Review (repeated from 1:15 pm)• Multi-Jurisdictional Pushback on Incentives and Abatements• And then We Did the Site Visit• When the Going Gets Tough, IPT Attorneys Get Tougher

(repeated at 3:45 pm)


Monday3:45-4:45pm

• The Impacts on State and Local Property Taxation Due to Declines in Oil and Gas Prices

• Personal Property Tax Opportunities You Never Knew You Had• Valuation Issues with Senior Living Facilities• When the Going Gets Tough, IPT Attorneys Get Tougher

(repeated from 2:30 pm)

5:30-7:00pm Networking Social Hour Sponsored by: Grant Thornton LLP & Law Offices of Nicholas A. Furia, PLLC

TUESDAY, NOVEMBER 15, 20167:00-8:00am Continental Breakfast Sponsored by: Altus Group


Tuesday8:15-9:15am

• Advanced Property Tax Forum Part I: Property Tax Policy Discussion (Attendance is limited)

• The Importance of Reverse Audits• The Effect of the Whole Lease on Value

IPT 2016 Property Tax Symposium At-A-Glance

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IPT Property Tax SymposiumPreliminary Program

November 13 - 16, 2016The Westin La Paloma Resort, Tucson Arizona

Sunday, November 134:00 - 7:30 p.m. Registration

5:00 - 5:30 p.m. New Member Welcome Session/Reception:An introduction to IPT for new members and first time attendees, and meet long-time IPT members.IPT President:Kellianne M. Nagy, CMI, CAE Sunbelt Rentals, Inc.Symposium Committee Chair: Kevin M. Clyne, Esq. Herman Katz Cangemi & Clyne, LLP

Membership Promotion Committee Chair: Carolyn M. Shantz, CMI, CPA Superior Energy Services, Inc.Member Connections Committee Co-Chairs: Arlene M. Klika, CMI SchneiderJamie P. Stottlemyre, CMI, CPA Ryan, LLC

5:30 - 7:00 p.m. “Welcome to Tucson, Arizona” Networking Social Hour

Monday, November 147:00 - 8:00 a.m. - Continental Breakfast (Guests of Hotel)Sponsored by: Herman Katz Cangemi & Clyne, LLP

7:30 a.m. - 4:00 p.m. Registration

8:00 - 8:30 a.m. Opening of Symposium Symposium Chair: Kevin M. Clyne, Esq. Partner Herman Katz Cangemi & Clyne, LLP Melville, NY IPT President: Kellianne M. Nagy, CMI, CAE Property Tax Manager Sunbelt Rentals Inc. Fort Mill, SC

8:30 - 9:30 a.m. General Session: Property Tax 2.0 – What’s on the Virtual Horizon?Ask four of your closest IT [geek] friends “What is Web 2.0?” and you will probably hear four different answers. Now’s your chance to virtually ask four property tax tech experts the same question for property tax technology. Our panel of experts will share their insights on what’s next and how it will impact your business. What we all know is

that the latest technology trends are about tighter collaboration and new ways to collect and interact with data. Be sure to participate in the live online Q&A during the session!Learning Objectives: At the end of this session, the participant will be able to:• Evaluate new technology

offerings to manage your operations

• Implement improved workflows based around emerging tech-nologies and automation tools

• Build tighter collaboration with internal and external resources.

• Produce meaningful metrics for management and other stake-holders

• Interpret tax system data for decision making and analytics

Speakers:Doug Collins President AppealTrack Indianapolis, IN Mordechai Katzman President Rethink Solutions Inc. Toronto, ONJeffrey D. Krzeminski, CMI Principal Consultant Flint PM LLC Deer Park, IL

Stephen Wicks CEO PTX Tech Smyrna, GA

9:45 - 10:45 a.m. General Session: Successfully Managing Property Tax Lawsuits Litigating a property tax case can be costly, time consuming, tedious and stressful. It is important to know how litigation in court differs from an administrative tax appeal before a local assessor or board of review. An experienced panel of attorneys will discuss several of these factors from the viewpoint of different jurisdictions, including California, Illinois, New Jersey, and Ohio, and give examples of what has proven effective in securing a favorable outcome for their clients. The attorneys will discuss a range of issues such as: the procedural aspects of getting into court; satisfying the burdens of proof once there; identifying and dealing with opposing parties and possible third party intervenors; identifying and managing the relief available; and weighing the costs/benefits of going to trial versus settling the case. Learning Objectives: At the end of this session, the participant will be able to:

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• Recognize the differences between an administrative tax appeal before an assessor or board of review versus a prop-erty tax lawsuit in court

• Differentiate how courts in dif-ferent states handle pre-trial deadlines, burdens of proof, rules of evidence and opinions of value

• Design a game plan at the administrative level of appeal to set the table for litigation in court

• Determine the best venue to present a tax valuation case based on the factors involved and identify the main players involved in the case

• Evaluate the probable time line and relief available to the client and whether or not there is a risk for a tax increase, and weigh the cost/benefits of going to trial versus settling the case

Speakers:Cris K. O’Neall, Esq. Attorney Greenberg Traurig, LLP Irvine, CA Jessica L. MacLean, Esq. Attorney Worsek & Vihon LLP Chicago, ILTodd W. Sleggs, Esq. Partner Sleggs, Danzinger & Gill Co., LPA Cleveland, OH

Daniel P. Zazzali, Esq. Attorney McCarter & English, LLP Newark, NJ

11:00 - 12:00 p.m.Keynote Session:

State Fiscal Conditions: Role of Income, Property & Sales TaxThe U.S. economy has expanded since 2009, albeit at slower growth rates than normally expected, but in many cases state and local tax revenues have failed to evidence comparable growth. For example, corporate taxes in most states have risen slowly despite relatively strong corporate profits. A num-ber of causes can be identified. Tax policy decisions have slowed revenues in some states, such as Kansas and selected states that have enacted strong property tax limitations. Other states are affect-ed by narrow tax bases (such as limited sales taxation of services and difficulties in collecting use tax-es due on remote transactions). At the same time, others are limited by underlying economic trends, such as oil price states.This session begins by reviewing current and recent state and local tax performance across the U.S. Analysis of key policy decisions

currently being made or considered for the property, sales, personal in-come, and corporate income taxes follows. The session concludes with discussion of some likely future pol-icy trends.Learning Objectives: At the end of this session, the participant will be able to:• Recognize the current trends in

state and local tax policy, par-ticularly focused on the major revenue sources of income, property and sales taxes.

• Identify current factors driving changes in tax policy.

• Recall current policy decisions discussed and their influence on future policy trends.

Speaker:William F. Fox, Ph.D. Director, Center for Business & Economic Research University of Tennessee Knoxville, TN

12 noon - 1:00 p.m. Lunch Sponsored by: Archer & Greiner, P.C.

1:15 - 2:15 p.m. Concurrent Breakout Sessions

In-Depth Capitalization Rate Review (Repeated at 2:30 p.m.)Are capitalization rate discrepan-cies at the heart of many of your valuation disputes? Multiple factors should be considered in selecting an appropriate capitalization rate. The presenters will review capi-talization rate discrepancies, and examine the impact that various factors have on capitalization rates.Learning Objectives: At the end of this session, the participant will be able to:• Develop capitalization rates

that reflect stabilized fee simple values

• Examine the difference between leased fee capitalization rates and fee simple capitalization rates

• Differentiate between capital-ization rates for leased build-ings and capitalization rates implied by vacant buildings

• Analyze the impact of leasing commissions, tenant improve-ments, and capital reserves on capitalization rates, equity dividend rates and value con-clusions

• Compare income approaches using effective rental rates and tenant improvements deduc-tions

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• Gain knowledge of techniques to refute erroneous capitaliza-tion rate selection

• Comprehend capitalization rate adjustments for properties at the end of life or with declining utility

• Properly understand published capitalization rate surveys, and their averages and ranges

Speakers:Leonard J. Patcella, Jr., CMI, MAI President Equity Appraisal Co., Inc. Springhouse, PADavid A. Schneider, Esq. Partner Archer & Greiner, P.C. Princeton, NJ

1:15 - 2:15 p.m.The Arizona Property Tax System and Maricopa County Assessment PracticesArizona voters approved Proposition 117 which took effect in 2015 making significant changes to the method of determining property values and the resulting property taxes. This session will examine these changes with an emphasis on the impact in Arizona’s largest county.Learning Objectives: At the end of this session, the participant will be able to:

• Identify and differentiate the unique features of the property tax system in Arizona

• Determine the significant deadlines for a property owner taxpayer within the State of Arizona

• Distinguish the variabilities of assessment and taxation of property located in Maricopa County, Arizona

Speaker:Tim Boncoskey Chief Deputy Assessor Maricopa County Phoenix, AZ

1:15 - 2:15 p.m.Tax Incentive Agreement Compliance: Best Practices Forum About Maintaining Your Hard Earned IncentivesYour company has successfully built its business case for securing local and state level economic tax incentives and now your team is charged with demonstrating ongoing compliance. The incentive surveys seem pretty straight forward so what could go awry? Josh Malancuk, President of JM Tax Advocates and Brian Smith, Principal and Central Region C&I Leader of Ernst & Young, will facilitate a best practices discussion around planning opportunities and specific client examples for navigating

incentive compliance mishaps. They will leverage their combined experience with incentive planning and resolution of non-compliance project disputes that developed post agreement.Learning Objectives: At the end of this session, the participant will be able to:• Identify and minimize prob-

lems with incentive compliance during and after project nego-tiation

• Apply strategies to make the best out of project shortfalls

• Reference actual examples as discussed by session speakers to help avoid similar mistakes during your incentive term

• Leverage the relationship be-tween property taxes and in-centive agreements.

Speakers:Joshua J. Malancuk, CMI, CPA President JM Tax Advocates LLC Fishers, IN Brian Smith, JD, LL.M. Partner/Principal: US Location Investment Services and Central Region Credits & Incentives Leader Ernst & Young LLP Chicago, IL

1:15 - 2:15 p.m.Putting Lipstick on a Pig: Valuing Golf Courses in New York and Across the Country The speakers will discuss the methods of valuing golf and coun-try clubs by looking closely at the various valuation methodologies utilized for different purposes, i.e. property tax appeals, financing, and financial/estate planning, partner-ship disputes, etc., and the specific legal requirements and restrictions applicable to valuing golf courses for property tax appeals in different states. The speakers will provide a summary of recent court decisions from New York, and how these decisions may be interpreted in dif-ferent states, and will also address the changes to the golf market and how they affect golf course values for property tax purposes presently and in the future.Learning Objectives: At the end of this session, the participant will be able to:• Recall different methodologies

for valuing golf courses for different purposes in different states

• Summarize the golf course val-uation methodology for proper-ty tax appeals in New York

• Identify issues within the golf market and the effects on golf course property value and val-uation

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• Recognize golf course valua-tion opportunities

Speakers:Jeffrey Dugas Principal Golf Advisory Group Cheshire, CT Jay M. Herman, Esq., CRE Partner Herman Katz Cangemi & Clyne, LLP Melville, NY


In Depth Cap Rate Review (Repeated from 1:15 p.m.)

2:30 - 3:30 p.m. Multi-Jurisdictional Pushback on Incentives and AbatementsThis session will discuss various scenarios involved when working to secure incentives and abatements. It will also encourage discussion on different approaches to obtaining incentives and abatements and the varying degrees of success. In a recent Wall Street Journal Article titled ‘Ending the Corporate Welfare Circus’ the author wrote “Increasingly, major companies determine where to maintain, expand or relocate facilities based on how much money they can

take from taxpayers’ pockets in the process. They sometimes hold jobs and entire community’s hostage until they get their way.” While corporate America would argue the hostage part it is a common practice to search for new sites where jurisdictions are willing to work on incentive packages or existing abatements. However, what was once a relatively standard and pain free process has become onerous, demanding of time and in some cases business studies. Learning Objectives: At the end of this session, the participant will be able to:• Identify those jurisdictions that

are “business friendly” through research and historical results

• Assess the needs of the juris-diction regarding investment, operations and building infor-mation

• Analyze competing locales in regards to initial application as well as maintenance

• Evaluate and recommend find-ings based on overall business needs

• Identify the states where in-come is not taxed, which con-tributes to the incentive

Speakers:Gerard N. Amoroso, Jr. Director Business Personal Property Popp Hutcheson PLLC Austin, TX

William O. Ryan, CPA Partner Pivotal Tax Solutions LLC Phoenix, AZ

2:30 - 3:30 p.m. And then We Did the Site VisitThis informative, humorous and interactive session will focus on the many important considerations to keep in mind when preparing for a site visit with the local assessing authorities, and some of the surprising discrepancies that have been known to arise, supported by real-life experiences.Learning Objectives: At the end of this session, the participant will be able to:• Determine when a site visit is

necessary• Prepare for and perform the

site visit• Comprehend the importance of

a good plan and the ability to completely disregard the plan and be resourceful if necessary

• Apply the hard lessons shared by others to their own properties

Speakers:Mindy McLees, CMI Director DuCharme, McMillen & Associates, Inc. Los Angeles, CA

Charles B. Terrell, Jr., CMI Manager Non-Income Tax Tyson Fresh Meats, Inc. Springdale, AR

2:30 - 3:30 p.m. When the Going Gets Tough, IPT Attorneys Get Tougher (Repeated at 3:45 p.m.)Gone may be the days when a tax appeal started with a simple filing, progressed to discussions and data exchanges between the parties, and finished with a negotiated resolution. In today’s environment, taxpayers regularly experience vigorous escalations in taxing jurisdiction resistance to appeals. In some instances, resistance takes the form of increased use of legal measures to force exposure of extraneous proprietary data. In other instances, taxing jurisdictions actually are taking affirmative steps seeking increases in assessments, even where taxpayers have not initiated appeals. The result has been a tremendous adjustment in the way appeals must be managed. This session focuses on explaining the different tactics used by taxing jurisdictions to interrupt a once smooth appeal process, the factors driving taxing jurisdictions to become more aggressive in opposing appeals regardless of the merits, and the measures taxpayers may take in response

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to the hardline tactics of this new norm. Understanding government strategies and their underlying motives will help taxpayers to cope with aggressive jurisdictions and effectively manage property valuation appeals.Learning Objectives: At the end of this session, the participant will be able to:• Recognize the taxing jurisdic-

tions’ motivations for pursuing the property owner in an ag-gressive manner

• Determine the best approaches to dealing with taxing jurisdic-tions when they are in attack mode

• Evaluate the constitutionality of their methods in pursuing increases in assessments

• Be able to better predict the outcome of an appeal for a property owner

• Effectively handle such appeals to your advantage in such a highly charged atmosphere

• Recommend strategies to best leverage a taxpayer’s position in negotiations with the taxing district

Speakers:Mark S. Cappuccio, Esq. Shareholder Eastburn and Gray, P.C. Blue Bell, PA Sharon F. DiPaolo, Esq. Attorney Siegel Jennings Co., L.P.A. Pittsburgh, PA

Jeffery J. McNaught, Esq. Attorney The Law Offices of Jeffrey J. McNaught LLC Minneapolis, MN


The Impacts on State and Local Property Taxation Due to Declines in Oil and Gas Prices In those state and local taxing jurisdictions relying heavily on property taxation of oil and gas properties as a major revenue source, reduced assessments resulting from drastic declines in the prices of these commodities over the past two years have significantly eroded the tax base. As a response, in addition to aggressively attempting to minimize assessment losses, state and local taxing authorities have taken actions ranging from dramatically increasing tax rates to limiting available abatements and incentives in order to replace lost tax revenues. These responses to assessment losses have created a host of challenges to the property tax professional in many areas including accurately forecasting tax liability, keeping current on changes in tax exemption availability and requirements, and providing

reliable property tax guidance in capital expenditure decisions.The session leaders will focus on key recent, and potential future, state and local government reactions to tax base declines and provide suggestions for the attendees on how to incorporate these developments into their property tax strategy.Learning Objectives: At the end of this session, the participant will be able to:• Recognize the impact oil and

gas price declines are having on property taxation

• Anticipate future governmental reactions arising from a pro-longed downturn in the oil and gas industry

• Factor current and potential future developments into prop-erty tax planning and strategy

Speakers:Joe David Baker, CMI Sr. Property Tax Advisor Shell Oil Company Houston, TXWilliam M. Fowler, CMI Principal - Property Tax Merit Advisors, LLC Kingwood, TX

3:45 - 4:45 p.m. Personal Property Tax Opportunities You Never Knew You HadThis session will help you identify tax reduction opportunities not normally visited in your workday. Opportunities can pertain to type and/or use of an asset, and can also be used in conjunction with a threshold as a benefit to attract business. The speakers will provide their experiences with identifying these opportunities through internal reviews, state statutes, regulations, blogs and audits. Specifically, they will address the resources needed to identify, develop, process, and communicate these possibilities to reduce your overall tax liability.Learning Objectives: At the end of this session, the participant will be able to:• Identify where possible tax re-

duction opportunities or abate-ments are available

• Determine how the exemption or abatement applies to your business

• Examine the resources needed to apply for the opportunity for the current year and all subse-quent years available

• Develop a plan to communicate with all stakeholders to create a view of value-add as opposed to a cost center

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Speakers:Michael F. Finnegan, CMI, CPA Principal Ryan, LLC Nashville, TNChristine L. Stange Manager State Tax Planning - Indirect Tax Envision Healthcare Corporation Scottsdale, AZ

3:45 - 4:45 p.m.Valuation Issues with Senior Living FacilitiesSeniors housing is considered one of the ‘hot’ real estate assets with higher returns than other commercial property types; properties are selling at record high prices. But should these be considered real estate sales? What are the assets that are being sold and how are investors able to call these going-concern businesses ‘real estate’? By understanding how these properties are bought and sold, by understanding differences between federal tax and state tax law, and by knowing how these transactions are structured, owners and their consultants can prevent significant real estate tax reassessments.Learning Objectives: At the end of this session, the participant will be able to:• Discover how seniors housing

properties are sold; including

understanding the financing mechanisms for seniors hous-ing transactions, master leas-es, and sale/leasebacks

• Examine language in transfer declarations that can minimize future reassessments and probe methods to proactively work with local assessors and Departments of Revenue to have sales disregarded for property tax purposes

• Assess changes in seniors housing design and the impact on older facilities (i.e. obsoles-cence)

• Analyze valuation methodol-ogies to identify and isolate the real estate component of a going-concern enterprise, in-cluding pluses and minuses for each method and which have been accepted in property tax cases.

• Interpret recent property tax case law regarding seniors housing

Speakers:Deborah A. Davis, CMI, CPA President Strategic Tax Services, Inc. Chicago, IL John W. VanSanten, CRE, MAI, MRICS Managing Director | Valuation & Financial Opinions Stout Risius Ross, Inc. Chicago, IL

3:45 - 4:45 p.m. When the Going Gets Tough, IPT Attorneys Get Tougher (Repeated from 2:30 p.m.)

5:30 - 7:00 p.m. Reception Sponsored by: Grant Thornton LLP & Law Offices of Nicholas A. Furia, PLLC

Tuesday, November 157:00 - 8:00 a.m. Continental Breakfast (Guests of hotel) Sponsored by: Altus Group

8:15 - 9:15 a.m. Concurrent Breakout Sessions

Advanced Property Tax Forum Part I: Property Tax Policy DiscussionThe Advanced Property Tax Forum is designed for property tax professionals with 15 years or more of experience who are looking for a different session from the typical symposium presentation. Attendance is limited. State and local governments have a difficult job balancing budgets, from evaluating the efficacy of various taxes and other sources of revenue to pleasing various constituent groups (including

businesses, homeowners, government agencies, school districts). This session will be a group discussion about trends and issues in state and local tax policy affecting property taxation – the good, bad, and ugly - especially regarding reliance on different forms of taxation and potential changes to tax bases, rates and exemptions. Come prepared to provide your insights from first-hand experience regarding property tax policy changes (and the intended and unintended consequences of taxes or alternatives) and potential changes that your state and local governments are publically debating. Learning Objectives: At the end of this session, the participant will be able to:• Demonstrate a broader knowl-

edge of state and local tax policy and the likely impact and consequences of various taxes and other sources of govern-ment revenue

Speaker:William F. Fox, Ph.D. Director University of Tennessee Center for Business & Economic Research Knoxville, TN

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8:15 - 9:15 a.m. Evaluating Risk Before Appealing or Amending – Importance of Reverse AuditsAn appeal of an assessment or amendment of a return to seek relief for overpaid property taxes is often a trigger for assessing authorities to perform a thorough review, and so should it be for taxpayers and consultants. Exposure can hide where we least expect it – cost basis issues inherited from a previous owner of a facility, inconsistencies or changes in fixed asset capitalization and expense policies over time, undocumented filing positions taken by a predecessor – and can jeopardize an otherwise legitimate appeal or refund claim and cause assessors to question the credibility of taxpayer data. From the perspective of both a taxpayer and a consultant, this session will highlight key aspects of a thorough reverse audit and methods for managing exposure issues, if identified.Learning Objectives: At the end of this session, the participant will be able to:• Examine potential areas of

exposure within statutory look-back period

• Weigh the risks of potential ex-posure and evaluate the need for adjustments to accruals

• Identify voluntary disclosure programs, where available, to address exposure issues

• Reassess the benefit of appeal/amendment in the context of exposure issues and establish a plan to address the exposure through the appeal/amendment process

Speakers:Selena G. Longway, CMI Director, State & Local Tax & Advisory Altus Group Sparks, MDLance C. Warren, CPA Director, Business Taxes & Incentives Anheuser-Busch Companies, LLC Saint Louis, MO

8:15 - 9:15 a.m. Beyond the Property Tax Clause: The Effect of the Whole Lease on ValueLeases significantly impact the value of real estate, yet leases are often misinterpreted by local assessors for property tax purposes. Often, assessors fail to recognize that the credit of the tenant is as important as the terms of the lease. Moreover, it is paramount to understand that the clauses in the lease that deal with the length of the lease and annual escalations may reflect considerations that have no bearing

on the actual value of the real estate. Free rent, commissions, tenant improvements, and other considerations should also be carefully dissected and analyzed to determine the use of an existing lease to arrive at market value.Learning Objectives: At the end of this session, the participant will be able to:• Differentiate between the

contract rent of a lease that in-cludes free rent, commissions, and tenant improvements and one that does not include those items and other considerations

• Discover how to calculate the net effective rent of a lease

• Interpret lease terminology• Identify lease clauses that have

potential for misinterpretation• Develop arguments and tech-

niques to effectively use and explain lease terms to local assessors

Speakers:John O’Neil Senior Consultant Marvin F. Poer and Company Oak Brook, IL David J. Swinkle, CMI Vice President Equity Property Tax Group Chicago, IL


Advanced Property Tax Forum Part II: Hurdles to Fair Taxation, Part I The Advanced Property Tax Forum is designed for property tax professionals with 15 years or more of experience who are looking for a different session from the typical symposium presentation. Attendance is limited. Property owners and their tax professionals often face a variety of daunting hurdles to achieve fair property taxation. Share and hear strategies from your experienced peers in a thought-provoking group discussion. With seasoned discussion moderators, the group will identify and share strategies to overcome the following obstacles: • Procedural roadblocks • Incorrect assessment ratios

and other systematic obstruc-tions to uniform taxation

• Impositions of tax on non-as-sessable or exempt property

• Inappropriate and erroneous valuation positions and ap-proaches

• Potential for pro-tax proclivities and bias by decision-makers and triers-of-fact (tax asses-sors, administrative boards, courts)

Learning Objectives: At the end of this session, the participant will be able to:

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• Identify the inappropriate barri-ers to fair taxation listed above and develop strategies to ad-dress them.

Speakers:Charles Alan Long, CMI Executive Director Ernst & Young LLP Charlotte, NC Richard J. Ayoob, Esq. Partner Ajalat, Polley, Ayoob & Matarese Glendale, CA

9:30 - 10:30 a.m. The Benefits of Cost Segregation and Other Federal Tax Planning Strategies Associated with Property ExpendituresThis session will provide an education on the use of Cost Segregation and other property expenditure tax planning strategies from long time industry experts. Ever since the Tax Reform Act of 1986 established the Modified Accelerated Cost Recovery System (MACRS), taxpayers have had consistent rules regarding the lives to use to depreciate assets for Federal Income Tax purposes. However, those rules are anything but clear being based in large part on criteria established under the old Investment Tax Credit (ITC) including court decisions,

IRS pronouncements and other legislative acts dating as far back as the 1940’s. Additional changes and confusion have come about due to a wave of government provided enhancements and guidance including but not limited to Bonus Depreciation, the Tangible Property Regulations and most recently the PATH Act. Attendees will leave with the ability to address these issues and help their organization maximize the available benefits.Learning Objectives: At the end of this session, the participant will be able to:• Recognize where Cost Segre-

gation opportunities exist within your company’s tangible prop-erty expenditures

• Describe how Cost Segrega-tion and other tax planning strategies have developed into today’s current state of tax planning

• Apply current tax legislation surrounding tangible property to your company’s tax fixed as-set strategy

• Examine how book-to-tax dif-ferences influence your compa-ny’s capitalization procedures

• Develop a plan to maintain proper tax methods for tangible property that maximize your company’s annual deductions

Speakers:Daniel McGrath Senior Director RSM US LLP Chicago, ILMark Rogers Director-Strategic Federal Tax Services Grant Thornton LLP Chicago, IL

9:30 - 10:30 a.m. Proving Depreciation in the Cost ApproachWhile market extraction and economic age-life depreciation estimates are simple to use, they are not practical in many situations, and these methods are rarely accurate if obsolescence is present. The more complicated, break-down method of measuring depreciation requires that each element of depreciation be identified and quantified to determine the property value. This introduces many challenges to the appraiser including justification of each aspect of depreciation, and ensuring that each element is distinct with no “double-dipping.” This session will present advanced methods to prove depreciation in complex valuation litigation that are quantifiable, reliable, and grounded in principles set forth in accepted appraisal literature

Learning Objectives: At the end of this session, the participant will be able to:• Identify each element in cost

approach depreciation for com-plex property appraisals, with a particular emphasis on eco-nomic depreciation

• Develop methods to “prove-up” economic obsolescence

• Gain knowledge of how to differentiate between physical depreciation and functional obsolescence, and to reliably quantify functional obsoles-cence

• Review the impact of declining utility on depreciation estimates

• Present quantifiable and per-suasive obsolescence proofs to assessors, review boards, and courts

Speakers:Kimberli J. Rogers Senior Property Tax Manager DuCharme, McMillen & Associates, Inc. Phoenix, AZKathy G. Spletter, ASA Vice President Stancil & Co. Irving, TX

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9:30 - 10:30 a.m. Sales Comparison Approach & Responding to Portfolio Sales (Repeated at 10:45 a.m.)This session will analyze the use of portfolio sales to value individual properties by Assessors. The speakers will review sample transactions and the key considerations of portfolio transactions, such as: Terms of the sale; Identification of non-taxable items; and Cash Equivalency. The audience will learn about a specific example in Colorado and will discover: what the valuation manual stated; what the evidence provided; the challenges in finding responsive information; and what the resolution means in Colorado and other states.Learning Objectives: At the end of this session, the participant will be able to:• Determine the key consider-

ations in portfolio transactions relative to property tax

• Analyze the position of assess-ing officials for these transac-tions

• Discover methods to review and respond to these assess-ments

Speakers:Norman J. Quinn, III, CMI, CRE, FRICS President Equity Property Tax Group Chicago, IL David G. Hurrell, CPA Executive Director Ernst & Young LLP Cleveland, OH


Advanced Property Tax Forum Part III: Hurdles to Fair Taxation, Part IIContinuation of Hurdles to Fair Taxation, Part IThe Advanced Property Tax Forum is designed for property tax professionals with 15 years or more of experience who are looking for a different session from the typical symposium presentation. Attendance is limited.

10:45 - 11:45 a.m. Identifying and Valuing Intangibles: More than just the “Leftovers”Identifying and valuing intangibles has become a very important factor when determining the fair market value of many different types of properties. In a number of instances, the hearing officers have been reluctant to allow an appraiser

to calculate the value of intangible assets using the “leftover method”.Learn how to identify and attribute value to intangible assets through direct valuation tools and methodology. Use certain specific industry sectors e.g. Energy industry, as a way of illustrating how to identify and value intangible assets.Learning Objectives: At the end of this session, the participant will be able to:• Identify and differentiate the

intangible assets associated with a business

• Measure the value of the differ-ent types of intangible assets

• Document the approach & methodology, key assumptions and data sources

Speaker:Joseph Omoworare Managing Director Duff & Phelps Corp. Dallas, TX

10:45 - 11:45 a.m. Business Personal Property Tax Compliance: Best PracticesBusiness Personal Property tax compliance is often overlooked as an area of organizational opportu-nity. Our panel of experts will lead a discussion on a wide range of issues such as jurisdictional differ-ences, process streamlining and

optimizing results. In this interac-tive session, the panel will provide insight on leveraging technology to facilitate your processing and co-ordinating with colleagues to share consistent massaging to taxing authorities.Learning Objectives: At the end of this session, the participant will be able to:• Identify possible potholes that

can derail your personal prop-erty tax compliance

• Create action plan to identify and implement potential tax savings strategies

• Establish methods of standard-izing procedures to help inte-grate best practices

• Gain insight from your peers & industry experts that have found solutions to issues you are currently facing

Speakers:Patrick M. Broome, CMI Senior Director Altus Group Sparks, MDScott Eckhardt Senior Tax Manager Wal-mart Stores, Inc. Bentonville, ARCatherine R. Wood, CMI Senior Software Consultant Tax Compliance, Inc. San Diego, CA

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TuesdayTuesday

10:45 - 11:45 a.m. Sales Comparison Approach & Responding to Portfolio Sales (Repeated from 9:30 a.m.)

11:45 -12:15 p.m. Lunch sponsored by: Pivotal Tax Solutions

12:15 -1:15 p.m. Lunch Industry Roundtables The Property Tax Symposium Roundtables have always been a popular IPT tradition. This year the roundtable will be conduct-ed during the lunch hour, which creates an environment suited to discussion and the exchange of ideas. Join colleagues in your industry in an informal discussion group to discuss experiences and share best practices on the most important current and emerging topics in property tax. This year the roundtables will include: • Energy • Equipment Leasing Industry • Golf/Recreational • Healthcare/Senior Living • High-Tech/Telecommunica-

tions • Hotel • Industrial (Warehouse, Flex,

Light Assembly) • Manufacturing Plants (Person-

al and Real) • Multi-Family

• Office • Oil & Gas • Retail • Retail - Big Box/Anchor Ten-

ants • TransportationLearning Objectives: At the end of this session, the par-ticipant will be able to: • Discuss key and significant is-

sues affecting specific sectors • Identify workable solutions and

how to implement • Identify new and emerging in-

dustry trends


Valuation of Renewable Energy ProjectsValuation of projects for property tax purposes is of interest to taxpayers and consultants due to the dynamic changes facing the renewable energy industry. The competitive environment faced by a project can have a substantial impact on its financial performance. The valuation process involves consideration of cost, market and income approaches along with the examination of the external factors influencing the renewable energy industry. This session will highlight key concepts and inputs into the valuation process as well as methodologies used in developing valuations of renewable energy

projects, in particular Wind and Solar projects.Learning Objectives: At the end of this session, the participant will be able to:• Recognize the methodologies

used to value renewable energy facilities

• Understand the dynamics influ-encing facility value

• Identify the key inputs into the valuation process

• Appreciate that tax implica-tions of renewable energy facilities

Speaker:Richard K. Ellsworth, PE, ASA, CFA Director Deloitte Financial Advisory Services Westfield, NJ

1:30 - 2:30 p.m. To Co-Source or Not to Co-Source…NOT the Only QuestionThis session will help you determine if co-sourcing could be a cost-saving or risk-mitigating benefit for your organization. You will be able to identify when and how to evaluate co-sourcing options, as well as study real life business cases and cost benefit analyses. The speakers will share their expertise of what works and what does not when building a successful co-sourcing model.

They will provide guidance for all stages of the process. Specifically, they will explain options and criteria for comparing outsourcing, co-sourcing, and building an in-house tax department; methods to evaluate and measure the success of the selected track; and guidance on how to ensure communication to and from all stakeholders is effective throughout the process.Learning Objectives: At the end of this session, the participant will be able to:• Identify when and how to eval-

uate co-sourcing options • Examine real life business cas-

es for co-sourcing support• Design a successful co-sourc-

ing model• Compare full outsourcing, vs.

co-sourcing vs. building an in-house tax department

• Evaluate the chosen solution- track, measure, and commu-nicate

Speakers:Robyn P. Bowen, CMI Director Ryan, LLC Dallas, TX Annette Prehn, CMI Indirect Tax Manager Owens-Illinois, Inc. Perrysburg, OH

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1:30 - 2:30 p.m. Burden of Proof in Property Tax AppealsTie Goes to the Assessor – Burden of Proof Construct: When evaluating whether to appeal an assessment and analyzing probabilities of success, it is vital to understand the burden of proof constructs that guide the decision makers. Sometimes it is sufficient to prove the facts better than the opposing party, other times more is required. This session will discuss those constructs and enable you to better be able to analyze an appeal with those constructs in mind.Learning Objectives: At the end of this session, the participant will be able to:• State the burden of proof im-

posed upon a taxpayer at the administrative level and appel-late levels

• Analyze a potential appeal under the burden of proof construct

• Examine whether legislation should be adopted to alter appeal rights of taxing jurisdic-tions

Speakers:Johnny Deeds, Esq. Associate Holland and Hart LLP Salt Lake City, UTC. Stephen Davis, Esq. Shareholder Greenberg Traurig, LLP Irvine, CA


Intricacies of a Property Tax Due Diligence ReviewMany property tax professionals face challenges during their due diligence process when evaluating property tax impacts of potential transactions. These challenges could include providing timely advise, identifying property tax risks associated with the transaction, or quantifying the property tax to name a few. The goal of this session is to provide tools and best practices when performing the due diligence function. Learning Objectives: At the end of this session, the participant will be able to:• Communicate property tax im-

pacts of potential transactions to stakeholders

• Choose various approaches to estimating property tax

• Estimate property tax for due diligence purposes

• Identify opportunities to add value in the property tax due diligence process

• Acquire an understanding of an efficient due diligence pro-cess

• Develop a best practice when performing the due diligence process

• Recognize potential risks as-sociated with the due diligence process

• Identify when you need as-sistance in the due diligence process

Speakers:Kris Miller, CMI Vice President Marvin F. Poer and Company Dallas, TX David L. Wang, CMI Senior Property Tax Manager Exelon Corporation Chicago, IL

2:45 - 3:45 p.m. Valuation of Corporate Campuses In the 1980s and 1990s, many large corporations moved to the suburbs and built sprawling low-rise headquarter campuses. Recently, that trend has reversed, due to downsizing and demographic changes, and companies are moving back to urban locations creating a negative impact on suburban campus values. Learning Objectives: At the end of this session, the participant will be able to: • Recognize the differences

between suburban office cam-puses versus downtown head-quarters

• Identify the different physical and economic characteristics of the two location types

• Be aware of the current de-

mographic and market trends affecting headquarter designs and location

• Explain what appraisal ap-proaches apply and are giv-en the most consideration

Speakers:Elizabeth L. Gracie, Esq. Partner O’Keefe Lyons & Hynes, LLC Chicago, IL Michael J. Kelly, MAI, SRPA President Real Estate Analysis Corporation Chicago, IL

2:45 - 3:45 p.m. Real Property RoundtableThe Real Property Roundtable delivers an engaging mix of discussion, debate and the free exchange of ideas on the most important issues facing real property tax professionals. If you decide to attend this session, come prepared to participate! During the session, the experts on the roundtable will have an open exchange with each other and the audience members in an effort to identify motivations and resolutions for the topics that are top of mind for those in the industry. Attendees will have the opportunity to share their stories and learn best practices. Learning Objectives: At the end of this session, the participant will be able to:

Tuesday Tuesday

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• Identify workable solutions and how to implement them

• Discuss key industry issues and strategies for resolving them

Facilitators:Robert D. Brazzell Executive Vice President Altus Group Limited Toronto, ON, CanadaKevin M. Clyne, Esq. Partner Herman Katz Cangemi & Clyne, LLP Melville, NY 11747David C. Fader, CPA Property Tax Manager Chick-fil-A, Inc. Atlanta, GAKevin B. Hynes, Esq. Partner O’Keefe Lyons & Hynes, LLC Chicago, ILFrancis W. O’Malley, Esq. Partner Worsek & Vihon, LLP Chicago, IL

2:45 - 3:45 p.m. Personal Property RoundtableThe world of personal property tax is complex and ever evolving. Join a team of industry experts as they weigh in on the issues and topics most important to professionals in this field. The session will be conducted in a roundtable format,

allowing the audience to listen in on the discussion and debate of these industry leaders and inviting them to participate in the discussion, exchanging ideas and sharing best practices. Attendees who select this session should come prepared to participate! Learning Objectives: At the end of this session, the participant will be able to:• Identify workable solutions and

how to implement them• Discuss key industry issues

and strategies for resolving them

Facilitators:Daniel Carroll, CMI Manager Grant Thornton LLP Schaumburg, ILGeorgianna Coursume, CMI Property Tax Manager US Foods, Inc. Tempe, AZJeanne M. Mikels National Property Tax Specialist Whole Foods Austin, TXJoAnn F. Pierson Director, Compliance Processing Ryan, LLC Scottsdale, AZ

5:30-7:00 p.m. Reception Sponsored by: evcValuation LLC

Wednesday, November 16 7:00 - 8:00 a.m. Continental Breakfast (Guests of hotel)

8:00 - 9:00 a.m. General Session:

It’s Not a Dark Store: Finding the Market Value of the Fee Simple Interest for Big-Box and Free-Standing RetailDetermining the market value of big-box and free-standing retail is the most hotly debated and controversial property tax issue on the national stage. This panel of experts will update the audience on the ever-changing legislative landscape governing this issue, shall provide insightful counterpoints to a recently-published article by an assessor on the topic, and will explore several appraisal principles that should be used to combat these typical arguments. This promises to be a lively discussion that you will not want to miss.Learning Objectives: At the end of this session, the participant will be able to:• Summarize recent noteworthy

case law, legislation and me-dia influence on the topic of tax valuations of big-box retail stores

• Explain the intricacies of sales data related to big-box stores, including fee simple vs leased

fee sales, second-generation uses and deed restrictions

• Analyze the pros and cons of the income and cost approach-es to arriving at a fair market value for big-box stores

• Appreciate both sides of this debate but be able to critique the assessment community’s general positions on this topic

Speakers:Brett A. Harrington, CMI President International Appraisal Company, Inc. Upper Saddle River, NJMark S. Hutcheson, CMI, Esq., CRE Partner Popp Hutcheson PLLC Austin, TX Louis Newman, MRICS Senior Manager Walmart Stores, Inc. . Bentonville, AR John M. Schindler, CMI Senior Manager Real Estate Tax Target Corporation Minneapolis, MN

9:15 - 11:15 a.m. General Session

Ethics Rock Extreme! (Joint Session with Income Tax)This unique legal and accounting ethics seminar combines current ethics problems in both fields, advice, news and interactive hypotheticals with professionally

Tuesday Wednesday

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Wednesday

performed parodies of some of the greatest rock and roll songs ever written. Customized and up-to-the-minute, the session will challenge participants to solve difficult legal and accounting ethics dilemmas, all based on actual cases, led by lawyer ethicist Jack Marshall. The scenarios will be sung in new parody versions of pop and rock classics from such legends as Paul Simon, Elton John, Bob Dylan, Paul McCartney, Queen, Billy Joel and others, all by professional guitarist/singer/actor Mike Messer. Learning Objectives: At the end of this session, the participant will be able to:• Identify new tools for vital

professional ethics analysis in practice situation

• Recognize changes in the eth-ics landscape and dangerous variations among jurisdictions

• Evaluate rules, cases, and ethics opinions that the learner needs to know, understand, and be able to apply

Speaker:Jack Marshall President ProEthics, Ltd. Alexandria, VA

Chair: Kevin M. Clyne, Esq.

Herman Katz Cangemi & Clyne, LLP

Vice Chair: Daniel Carroll, CMI Grant Thornton LLP

Overall Chair, Property Tax Education Paul A. Wilke, CMI

Weingarten Realty Investors

Robert D. Brazzell Altus Group Limited

Georgianna Coursume, CMI Baden Tax Management

David C. Fader, CPA Chick-fil-A, Inc.

Cheryl A. Filippou Nestle Purina PetCare Company

Nicholas A. Furia, Esq. Law Offices of Nicholas A. Furia,

PLLCJeffrey D. Gordon, Esq.

Archer & Greiner, P.C.Kevin B. Hynes, Esq.

O’Keefe Lyons & Hynes, LLCDonna K. Lawrence, CMI Denbury Resources Inc.

Jeanne M. Mikels Whole Foods MarketA. Allen Mitro, CMI Duff & Phelps Corp.

Francis W. O’Malley, Esq. Worsek & Vihon, LLP

JoAnn F. Pierson Ryan, LLC

Adam B. Richmond, Esq. Preferred Tax Services

Barbara Ricken Grant Thornton LLP

Darlene Sullivan, CMI, Esq. Popp Hutcheson PLLC

Tommy L. Twomey, II, CMI Tesoro Companies, Inc.

Chair: Lynn D. Krebs, CMI, PhD

Tax Advisors Group, Inc.

Vice Chair: Donald L. Lippert, Jr., CMI

Grant Thornton LLP

Members:Todd R. Barron, CMI

Barron Corporate Tax Solutions, Ltd.Jeffrey D. Gordon, Esq.

Archer & Greiner, P.C.

Advanced Property Tax Education Committee

Members:

2016 Property Tax Symposium Committee

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2016 Property Tax Symposium Sponsors as of August 18, 2016

DuCharme, McMillen & Associates, Inc.Equity Property Tax Group/Faegre Baker Daniels

Ernst & Young LLPGangloff & GangloffGrant Thornton LLP

Karen H. Bauernschmidt Co., LPALaw Offices of Nicholas A. Furia, PLLC

Marvin F. Poer and CompanyNational Association of Property Tax Attorneys

Property Tax Assistance Co., Inc.Pullman & Comley, LLC

R. E. McElroy, LLCRSM US LLP

RyanRyan Law Firm, LLP

Sleggs, Danzinger & Gill Co., LPATax Advisors Group

Resources were made available to the Institute for the Symposium through the Institution’s Educational Sponsorship Program. Contributions were made by the individuals and/or companies listed above to defray costs associated with key-note and professional speakers. The Institute sincerely appreciates the contribu-tions made to the Symposium by the sponsorship participants. For information on how to participate in the Educational Sponsorship Program, visit IPT’s website, www.ipt.org.

2016 Property Tax Symposium Event Sponsors

Monday Breakfast Sponsor

Monday Night Reception Sponsors

Charging Station Sponsor

Monday Luncheon Sponsor

Tuesday Night Reception Sponsor

Tuesday Luncheon Sponsor

Tuesday Breakfast Sponsor

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Registration Information:Any IPT member or employee of a company/firm with member(s) in the Institute may register for the Sympo-sium. The registration fee provides for the usual Symposium expenses and also includes two luncheons, three receptions, refreshment breaks and Symposium materials. Admission to all social functions and sessions is by display of badge (tickets when applicable).

The early registration fee for IPT members is $595 before October 13, 2016, and $645 after October 13, 2016. Registrants thus save $50 if payment is received prior to October 13, 2016. Individuals who are not members of IPT, but whose company or firm has members in IPT, may attend the Symposium for an additional $250 charge. In this case, the total Symposium fee for nonmembers would be $845 before October 13, 2016 and $895 after October 13, 2016. Provided your company already has a member in IPT, you may join as an Associate Member. You would pay $275 for membership in IPT and $595 for attending the Symposium for a total fee of $870 before October 13, 2016, and $920 after October 13, 2016. Dues are nonrefundable

even if registration is canceled. See registration form. Members may also register for the Symposium online at IPT’s website, www.ipt.org. Please follow the instructions on the sign-in page. A confirmation of acceptance will be sent.This program is designed for IPT Members and individuals who are eligible to join IPT. Individuals who represent government agencies are not eligible for IPT membership.Faxed registrations are subject to the payment due date and cancellation fees. There is a cancellation charge of $100. Any faxed registration that is not canceled in writing prior to the November 4, 2016 cut-off date is subject to the entire Symposium fee. All requests for refunds must be in writing. No refunds for cancellations will be given after November 4, 2016 (5:00 p.m. EST). All registrations are to be handled in ADVANCE through the IPT office. If a person registers on site, there will be an additional $50 charge. For more information regarding administrative policies such as complaint and refund, please contact our office at 404-240-2300.There is a substitution charge of $40 on or before October 13, 2016; it becomes a $50 charge after that date (a substitute must be someone from your company). All fees must be in U.S. funds. The following credit cards may be used: American Express, VISA, and MasterCard. In order for credit cards to be processed, it is important that the information requested on the registration form be filled out completely.

Save $50

Register by October 13

Make checks payable to: Institute for Professionals in TaxationMail payment to: Institute for Professionals in Taxation 1200 Abernathy Road, NEBuilding 600, Suite L-2Atlanta, GA 30328Phone: 404-240-2300Fax: 404-240-2315

New members and 1st time at-tendees are encouraged to attend the New Member Welcome Session on Sunday from 5:00 to 5:30 p.m. The IPT President and Symposium Chair will give a brief overview of IPT and introduce you to long-time IPT members in attendance. There will be opportunity for casual one on one interaction with these members to ask them questions about their IPT experiences, the agenda of the program or, if you are interested, volunteer opportunities within IPT. We encourage member interaction at this session and throughout the Symposium program - IPT is your organization.

Hotel Information and Reservations:The Property Tax Symposium is being held at the The Westin La Paloma Resort • 3800 E Sunrise Drive • Tucson, AZ 85718 • United States • 520-742-6000. There are separate costs for the hotel. Click here for online hotel reservations or call 888-627-7201 to request a room in the IPT room-block. Mention that you are attending an IPT Symposium in all contact with the hotel in order to receive the group rate of

$199 single/$229 double. Room reservations and special requests should be made directly with the hotel as soon as possible. Reservations requested after the room block is filled or beyond the cut-off date of October 7, 2016, whichever comes first, are subject to availability. Rooms may still be available after the room block fills or beyond the cut-off date, but not necessarily at the group rate. All reservations must be accompanied by a first-night room deposit or guaranteed with a major credit card. Ground Transportation: The hotel does not provide shuttle service to the airport. Cab fare is approximately $50. Transportation is available through Arizona Stagecoach shuttle service and Integrity Transportation Services. There is no charge for self parking and the valet parking charge is $20.

Continuing Education Credits: Approximately 18 CPE credits (including 2 IPT ethics credit hours) are available for full attendance Monday through Wednesday. Each attendee will be able to obtain a copy of his or her scanned attendance (Certificate of Attendance) through the IPT website on the “My Participation” tab approximately two weeks after the end of the program.IPT must verify individual atten-dance at sessions in order to grant continuing education credits. Each attendee’s name badge has a unique barcode that identifies that individual. All current CMIs and CCIPs regis-tered for the Symposium will have a special color-coded badge to signify the CMI or CCIP designation. In order

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to obtain CE credit, each individual must scan his or her bar-coded badge during the first 15 minutes of each session. No credit for the session will be given to un-scanned attendees.CMIs and CCIPs will receive hour for hour Continuing Education Credits, up to a maximum of 30 hours, for actual session attendance.A lost name badge should be report-ed immediately, or at the break, to the registration desk in order to obtain a replacement.The Institute for Professionals in Tax-ation® is registered with the National Association of State Boards of Ac-countancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Spon-sors. State boards of accountancy have final authority on the acceptance of individual courses for CPE cred-it. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learning-market.org. In accordance with the standards of the National Registry of CPE Sponsors, CPE credits are granted based on a 50-minute hour. The Institute also files property tax programs with the Texas Depart-ment of Licensing and Regulation for property tax consultant continuing education. IPT files a Continuing Legal Educa-tion (CLE) application with the state in which the program is held. Any fee imposed by an individual state based on an individual’s credit hours is the responsibility of the individual. Recommended Field of Study: Taxes & Regulatory Ethics • Prereq-uisites: 3 years’ professional experi-

ence recommended • Instructional Method: Group Live • Advance Preparation Required: None • Program Level: IntermediateSymposium Materials:Approximately a week prior to the program, materials will be available online for access by program attend-ees. Click the sign-in button on the upper right-hand corner of the home page and login with your User name (User ID #) and password; it will take you back to the home page. Click on your name in the top right-hand corner of the home page, then click the “My Participation” tab on your member page where you will see meetings for which you are currently registered. Find the 2016 Property Tax Symposium Program and go to the Click Here link on the right under Program Info to view and print avail-able materials.Consent to Use of Photographic Images:Photos will be taken at this event. These may be published in IPT pub-lications, multimedia presentations, website, LinkedIn and Facebook pag-es, and other IPT related social media sites. Registration and attendance at, or participation in, IPT meetings or other activities constitutes agreement by the registrant/speaker/attendee to IPT’s use and distribution of the registrant’s, speaker’s, or attendee’s image or voice in photographs, video-tapes, electronic reproductions, and tapes of such events and activities.Tape recording of sessions is not permitted.Dress: For the Symposium, business casual dress is appropriate throughout the daytime sessions.

2016 – 2017 Board of GovernorsOFFICERS

President Kellianne M. Nagy, CMI, CAE

Sunbelt Rentals, Inc.

First Vice President Robert S. Goldman, CMI, Esq.

Madsen Goldman & Holcomb, LLP

Second Vice President Rick H. Izumi, CMI

ITA, LLC

Immediate Past President Margaret C. Wilson, CMI, Esq.

Wilson Agosto LLP

BOARD OF GOVERNORSLeslie S. Fisher, CMI E. I. Du Pont de Nemours & Company

Christopher S. Hall, CMI Ford Motor Company

Mark S. Hutcheson, CMI, Esq., CRE Popp Hutcheson PLLC

Rick L. Johnson, CMI Belk Stores Services, Inc.

David H. LeVan, CMI Wal-Mart Stores, Inc.

Kenneth R. Marsh, CMI TransCanada Pipelines Limited

April M. Nevarez, CMI XO Communications LLC

Carolyn M. Shantz, CMI, CPA Superior Energy Services

Tommy L. Twomey, II, CMI Tesoro Companies, Inc.

CORPORATE COUNSELLee A. Zoeller, CMI, Esq.

Reed Smith LLP

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