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Florida Hospitality IndustryFlorida Hospitality IndustryStatement of Qualifications
Table of Contents
I. Paradigm Tax Group………………………………….. 3
II. Market Distinctions ……………………………………
III. Property Tax Offices …………………………………..
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IV. Hospitality Scope of Services………………………...
V. Critical Dates in Florida …………….…………………
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VI. Recent Florida Hospitality Results…………………...
VII. National Hospitality Clients.…………………………..
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VIII. Team Resumes ……..…………………………………
IX. Contact Information …………………………………….
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www.paradigmtax.com2
Who is Paradigm Tax Group?
Paradigm Tax Group is the fastest growing, highlysuccessful property tax consulting firm in the USAsuccessful property tax consulting firm in the USA.
We were formerly the National Tax Practice of accounting giant KPMG, LLP. On November 22 2004 the oldest most established “Big Four” property tax practiceNovember 22, 2004, the oldest most established Big Four property tax practice
became the newest national property tax firm. Since our formation we have expanded the practice significantly, adding offices and professionals to provide the
most thorough local coverage in the industry.
www.paradigmtax.com3
Market Distinctions
Unique Business Model– 200+ years of local jurisdiction assessment knowledge and experience200 years of local jurisdiction assessment knowledge and experience
coupled with;
– 200+ years of hospitality industry knowledge and experience
– Industry Expertise + Local Relationships = Optimal Representation
Unparalleled Hospitality Industry Expertise– Knowledge of assets developed from, in-house experience with world-wide
industry leaders, former state & local officials and years of negotiations with state & local personnel on appeals and proactive solutions
Specifically Trained Full Time Professionals– Hospitality professionals focused on cutting edge services and out-of-the-
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Hospitality professionals focused on cutting edge services and out of thebox solutions
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Property Tax Offices
NJ Paradigm’s Hospitality Practice is headquartered out of our
North Florida properties are handled out of Paradigm’s Atlanta GA office
is headquartered out of our Washington, D.C. office
Atlanta, GA office.
South Florida properties are handled out of Paradigm’s Fort Lauderdale, FL office.
Atlanta Dallas Indianapolis Phoenix San Jose
Austin Denver Kansas City Pittsburgh Seattle
Boston Detroit Minneapolis San Antonio Simi Valley
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Boston Detroit Minneapolis San Antonio Simi Valley
Buffalo Ft. Lauderdale Orange County San Diego St. Louis
Chicago Honolulu Philadelphia San Francisco Washington DC
Cleveland Houston5
Hospitality Scope of Services
Transaction Services– Deal Pricing Analysis (DPA Reports for deal closings and deed recordation)
– Real Estate Transfer Tax Refund Applications within 4 years of deal closing
– Pre-Acquisition Property Tax Due Diligence Advice
Pro Active Assessment Negotiation – Cash management tool
Traditional Reactive Appeal Representation A L l B dTraditional Reactive Appeal Representation – Assessor, Local Board
and State Board Representation
Litigation Management Services – Assistance with attorney and expert witness
selection and case management
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Critical Dates in Florida
July 1 - Tax Roll Approval by Dept. of Revenue
August - Assessment Notices MailedAugust - Assessment Notices Mailed– TRIM notices begin mailing the first week of August for
North Florida Counties and continue until the third week in August for South Florida Counties.
September Appeal Filing DeadlineSeptember - Appeal Filing Deadline– Taxpayers have 25 days from the date of the TRIM
notice to file appeals with the Value Adjustment Board.
– It is possible to have an August deadline if the county mailed the notice within the first few days of the month,mailed the notice within the first few days of the month, but it is very rare.
November 1 - Tax Bills Mailed– Or next business day. Early payment discounts are
availableavailable.
January 1 – Personal Property Assessment (Situs) Date
March 31 - Tax Bills Payment Due Date
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– Delinquent thereafter.
Recent Florida Hospitality Results
F ll S i H t l D l C t FL
Real Estate Tax Savings Examples
Full Service Hotel – Duval County, FL
Prior Value of $17.40 MReduced to $14.00 MR d ti f $3 40 MReduction of $3.40 MTax Savings of $56,774
Economy Hotel – Orange County, FL
Prior Value of $9.01 MReduced to $6.50 MReduction of $2.51 MTax Savings of $47,411
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Recent Florida Hospitality Results (cont.)
Personal Property Tax Savings Example
Doral Country Club – Miami, FL
Tax Year Prior Value Final Value Reduction of Millage Rate Tax Savings
2004 $12,715,947 $9,321,313 $3,394,634 0.0216807 $73,598
2005 $12,659,978 $9,893,885 $2,766,093 0.0213163 $58,963
2006 $13,612,688 $9,266,280 $4,346,408 0.0207468 $86,567
2007 $15,911,850 $9,374,000 $6,537,850 0.0189733 $124,045
$343,172
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Recent Florida Hospitality Results (cont.)
Additional Selected Examples of Real Estate and Personal Property Tax Savings
Property Name Jurisdiction Prior Value Final Value Reduction of Tax Savings
Ponte Verda Duval County $7,408,200 $5,294,300 $2,113,900 $40,447
Waterfront Inn Sumter County $8,638,811 $5,797,879 $2,840,932 $38,591
Hilton Miami Airport Miami-Dade County $58,000,000 $56,000,000 $2,000,000 $37,788
Hilton Miami Airport (PP) Dade County $4,043,646 $2,439,339 $1,604,307 $29,789
Jacksonville Hotel Duval County $2,198,400 $1,013,409 $1,184,991 $21,720Jacksonville Hotel Duval County $2,198,400 $1,013,409 $1,184,991 $21,720
Hyatt Regency Coral Gables (PP) Dade County $2,101,934 $1,454,450 $647,484 $12,644
Courtyard Flagler Center Duval County $5,103,400 $4,701,900 $401,500 $7,359
Cypress Creek Hampton Inn Broward County $5,551,820 $5,330,420 $221,400 $5,227
Holiday Inn Express Pinellas County $4,300,000 $4,111,800 $188,200 $4,134
$
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$197,699
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National Hospitality Clients
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Team Resumes
D. Cameron Moore - Atlanta
Professional Experience Professional Designations and Affiliations (continued)Professional Experience
– Senior Managing Consultant / Principal– Over eighteen years experience in real and personal
property ad valorem tax valuation for regional and national clients
– Experience includes representation of real estate
Professional Designations and Affiliations (continued)
– Member, Alabama Association of Assessing Officials– Registered Real Estate Appraiser (Georgia)– Real Estate Sales License (Georgia, Florida)
Speaking Engagementsinvestment trusts, multi-national investment portfolios, multi-family properties, office buildings, retail, health care, manufacturing, national bank operation centers and branch offices, and undeveloped land
– Property valuation of several Hospitality and Resort property acquisitions in SE and SW
Speaking Engagements
– Presentation on “Assessment and Valutaion of Commercial Property” Southeast Tax Forum. Raleigh, NC, July 2006
Educational Background– Former Senior Manager with KPMG’s National Property
Tax Practice– Former Practice Leader of Compliance Division for
major boutique property tax consulting firm. Responsible for the development and implementation of appeal strategies, with general oversight of Compliance Division
Educational Background
– BBA, Finance, University of Georgia, Athens, Georgia– Fundamentals of Property Tax Listing and Assessment,
University of North Carolina, Chapel Hill, North Carolina– Various Appraisal Courses
Professional Designations and Affiliations
– Approved Agent, Board of Tax Appeals (Kentucky)– Approved Agent, State BOE (Tennessee)– Member, Georgia Association of Assessing Officials
Email Address
– Member, Tennessee Chapter of the International Association of Assessing Officials
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Team Resumes
Manuel A. Ramos - Ft. Lauderdale
Professional Experience Professional Designations and Affiliations (continued)Professional Experience
– Managing Consultant– Former Manager, Complex Industrial Properties,
KPMG’s National Property Tax Practice– Former Assistant Director, Property Appraisal
Department, Miami-Dade County, Miami, FL
Professional Designations and Affiliations (continued)
– License: Florida Real Estate Sales Associate– Member, Florida Chapter, International Association of
Assessing Officers– Member, Institute for Professionals in Taxation
– Twenty years of experience in appraising tangible business personal property for complex properties such as telecommunications, public utilities, cable and television broadcasting including airlines with market value in excess of $5 billion dollars
– Experienced in property tax appeals, compliance and
Educational Background
– BBA, Florida Atlantic University, Boca Raton, FL– Multiple Appraisal Courses in Valuation of Complex
Properties from ASA, IAAO, Wichita State University and Florida Department of Revenue
settlement negotiations
Professional Designations and Affiliations
– ASA, American Society of Appraisers– CFE, Florida Department of Revenue
Florida Department of Revenue
Email Address
– Accredited Senior Appraiser, American Society of Appraisers
– Certified Florida Evaluator, Florida Department of Revenue
– Senior Member, American Society of AppraisersMember South Florida Atlantic Chapter American– Member, South Florida Atlantic Chapter, American Society of Appraisers
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Team Resumes
Bernice T. Dowell - Washington, D.C.
Professional Experience Speaking EngagementsProfessional Experience
– Senior Managing Consultant– Over twenty years valuing real estate primarily for ad
valorem taxation as well as income tax, bulk sales tax, and financial accounting purposes; 17 years working nationally focused on hospitality assets
Speaking Engagements
– Presentation on “Managing Below the Bottom Line” Crittenden Golf Conference, Atlanta, GA, September 2004
– Panelist, Hotel Business Enterprise Value Symposium, International Association of Assessing Officers and Starwood Hotels & Resorts Worldwide Inc Chicago IL– Most recently, co-owner of Cynsur, LLC, providing
pricing analysis for over 400 hotel acquisitions– Provided valuation of component assets of
$820,000,000 acquisition of well-known California trophy resort; successfully defended before IRS
– Managed property tax litigation of a 1,500-room
Starwood Hotels & Resorts Worldwide, Inc., Chicago, IL, November 2005
– Panelist, Hotel Valuation: The Players; What, Why & How They Do It!, New Jersey State League of Municipalities, 91st Annual Conference, Atlantic City, NJ, November 2006
convention hotel in San Antonio ; jury decision resulted in real estate tax refunds of over $1 million
– Former Director of Property Tax for Host Marriott Corporation and for ClubCorp USA, Inc.
Publications
Educational Background
– B S., Finance/Real Estate, George Mason University, Fairfax, VA
– M.S., Finance, George Washington University, Washington D CPublications
– Published research paper entitled “Hotel Investment Analysis: In Search of Business Value,” Assessment Journal, March/April 1997 issue; Journal of Property Tax Management, Vol. 9, Issue 2, Fall 1997
– Quoted in California State Board of Equalization A ’ H db k S ti 502 Ad d
Washington, D.C.
Email Address
Assessor’s Handbook, Section 502, Advanced Appraisal, “Removing Intangible Assets and Rights From the Appraisal Unit,” December 1998
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Team Resumes
John B. Hess - Washington, D.C.
Professional Experience Educational BackgroundProfessional Experience
– Senior Managing Consultant– 23 years of property tax management experience
serving companies on various matters pertaining to property tax.
– Most recently, owner of Cynsur, LLC and Professional
Educational Background
– BA, West Virginia University, Morgantown, WV– Pursuing Masters Degree in Integrated Marketing
Communications from West Virginia University
Email AddressTax Solutions, Inc. Was responsible for developing hospitality practice through proactive tax planning strategies via extraction of the Business Enterprise Value from the going concern
– Former Practice Leader for KPMG’s Mid-Atlantic Property Practice responsible for delivery of specialized
i t l t t h it lit d f t i
Email Address
services to real estate, hospitality and manufacturing clientele throughout the US
– National Accounts Director for National Property Practice responsible for customizing property tax management programs for clients based in Washington, DC and NYC with geographically diverse portfoliosS i li i th t ti f h it lit t i– Specializes in the representation of hospitality assets in transfer tax and property tax capacities throughout the United States in conjunction with PTG offices
– Specializes in manufacturing and R&D properties in Maryland, Virginia and West Virginia
Professional Designations and Affiliations
– Member, Institute for Professionals in Taxation [IPT]
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Contact Information
• 10300 Eaton Place • 10300 Eaton Place
Suite 310
Fairfax, VA 22030
Suite 310
Fairfax, VA 22030
• Telephone: (703) 877-0781• Facsimile: (703) 877-0784• [email protected]
• Telephone: (703) 877-0782• Facsimile: (703) 877-0784• [email protected] @p g
John Hess
@p g
Bernice Dowell
This document is protected under the copyright laws of the United States and other countries as an unpublished work This document contains information that is proprietary and
Senior Managing Consultant Senior Managing Consultant
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This document is protected under the copyright laws of the United States and other countries as an unpublished work. This document contains information that is proprietary and confidential to Paradigm DKD Group LLC or its technical alliance partners, which shall not be disclosed outside or duplicated, used or disclosed in whole or in part for any purpose other than to evaluate Paradigm DKD Group LLC. Any use or disclosure in whole or in part of this information without the express written permission of Paradigm DKD Group LLC is prohibited.
© Paradigm DKD Group LLC (Unpublished). All rights reserved.16