1DS - Valuation of Nursing Homes

Instructor: John Zukowski, MAI, SRA, IAO

This one-day seminar is an introductory primer on the valuation of Senior Care and Nursing Home Facilities. We will start with a concise history of modern health care and a description of the distinct types of these facilities. This includes Independent Living, Assisted Living, Skilled Nursing, and hybrids. This leads to the resources available to understand the overall and specific market factors, which creates demand for these facilities.

Next, we get into the approaches to value. Starting with the Sales Approach and how to gauge the comparability of sales. A look at the Cost approach and when relevant, it is plus the income approach, where we discuss the income private pay vs public issues, expenses, what is typical, and what is not. Plus, how to analyze the risk associated with selecting a capitalization or yield rate.

Lastly, we discuss a Case Study specific to Tax Certiorari, analyzing the Real Estate, personal property, and the business value components of this property type. This seminar will provide the assessment community with a basic understanding of the senior care and nursing home valuation and what to look for when analyzing appraisals, or income and expenses of these property types.

Continuing Education Hours / Re-Certification Credits

Eligible assessors and county directors who attend will receive education credit and reimbursement from ORPTS, pursuant to their rules.