Understandinhg Intangible Assets and Real Estate: A Guide for Real Property ...Tim Wilmath
In most U.S. jurisdictions, assessors are responsible for estimating a market value for real property and/or personal property. Laws can vary from state to state, but for the majority of jurisdictions, intangible assets are not taxable, at least not as part of the real estate assessment. As a result, assessors must ensure their real estate assessments are free of any intangible value. Different interpretations of law and proper appraisal approaches for valuing intangibles sometimes result in disputes between taxpayers and assessors. Unfortunately, the identification and valuation of intangible assets is unsettled in the appraisal and assessment community. This guide is intended to assist assessors in understanding and addressing intangible assets in property tax valuation.
Understandinhg Intangible Assets and Real Estate: A Guide for Real Property ...Tim Wilmath
In most U.S. jurisdictions, assessors are responsible for estimating a market value for real property and/or personal property. Laws can vary from state to state, but for the majority of jurisdictions, intangible assets are not taxable, at least not as part of the real estate assessment. As a result, assessors must ensure their real estate assessments are free of any intangible value. Different interpretations of law and proper appraisal approaches for valuing intangibles sometimes result in disputes between taxpayers and assessors. Unfortunately, the identification and valuation of intangible assets is unsettled in the appraisal and assessment community. This guide is intended to assist assessors in understanding and addressing intangible assets in property tax valuation.