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Whelok Group is experienced in the valuation practice of real estate purpose-intangible assets, and business-related corporate property tax assets.
 

In practically all U.S. jurisdictions, assessors are responsible for estimating a market value in fee simple for real property. For the majority of jurisdictions intangible assets are not taxable, at least not as part of the real estate assessment. Wherein, assessors must ensure real estate assessments do not include business value, going-concern, unit value or enterprise value. This intangible asset class may be represented in properties such as shopping centers, hospitality, telecommunications, utilities, medical and continuing care facilities.
 

While most market value property tax jurisdictions have held that there is not a stand-alone or singular way to estimate market value, assessors typically use the three recognized approaches to market value used by the appraisal profession. However, in properties as mentioned above where going-concern, business value or intangible assets may be present, great care must be taken in the application of the sales comparison and income approaches when arriving at an estimate of market value. Where open market transactions are relied upon in the appraiser’s work product, knowledge of the seller-buyer calculus must be ascertained if a sale to be employed in the analysis is considered factually comparable. Appraisal valuation data must be thoroughly documented and evaluated.