Los Angeles Ritz, Marriott Win Property Tax Value Case on Appeal

The company that owns a hotel co-managed by Ritz-Carlton and Marriott near Los Angeles’ downtown convention center convinced a state appeals court that the county improperly included intangible assets in the valuation of the property.

Los Angeles County overvalued the property by $150 million, improperly accounting for a subsidy from the city, a discount from the hotel companies, and hotel enterprise assets, Justice John Shepard Wiley Jr. ruled April 7 for the divided California Court of Appeal, Second District.

Dissenting Justice Elizabeth A. Grimes argued the judges in the majority “invent new labels” for what it referred to as the ...