There is very little professional literature on the topic of valuation analysis relating to ad valorem taxation. For this reason, BV experts with a need can benefit from the Guide to Property Tax Valuation by Robert F. Reilly and Robert P. Schweihs. The book—available from Willamette Management Associates for purchase online—presents practical advice to solve specific ad valorem tax valuation problems.
One example: The authors offer insights on the ad valorem tax property appraisal reports and what they should include: 1) a description of the taxable (or tax exempt) property being appraised; 2) description of the subject asset or subject property bundle of legal rights encompassed by the appraisal; 3) property appraisal objective; 4) the purpose of the property appraisal; 5) the statutory, administrative, or other definition of the standard of value sought in the appraisal; 6) an explanation and description of the valuation analyst’s market research and data gathering procedures; 7) a description of the valuation methods and procedures used; 8) value indications derived and concluded from each method used; 9) a final conclusion of value; 10) a certification or representation of the principal analyst; 11) a statement of relevant assumptions; and 12) statement of the analyst’s professional qualifications.
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