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Representative disputes Clay County cost‑approach increase for Linden Woods Village senior facility
Summary
Taxpayer rep presented a going‑concern valuation for a continuing care retirement community and the county defended using a cost approach; parties debated intangible business asset deductions and unit counts.
A representative for Linden Woods Village, a continuing care retirement community (CCRC) in Gladstone, disputed Clay County's decision to raise the property's assessed value and urged the board to use a going‑concern income methodology adjusted to real‑estate value.
The taxpayer's representative said he derived a going‑concern value from 2024 financials and industry cap‑rate surveys (JLL and CBRE), used an 8.3% cap rate for class‑A CCRCs, removed reported furniture, fixtures…
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