The land residual theory and the absence of a business value for real estate as an operating business

Authors

Norm Miller, University of Cincinnati

Abstract

This article argues that valuing real estate is usually more precise and reliable than valuing a business and that the income approach should be used to determine the value of the real estate based on a fair market rent or actual lease rent. Opposing arguments are also addressed in thsi review of the battle for business value separation.

First Page

29

Last Page

35

Keywords

Valuation of personal property, Valuation of commercial property

Recommended Citation

Miller, N. (2004). The land residual theory and the absence of a business value for real estate as an operating business. Journal of Property Tax Assessment & Administration, 1(4), 29-35. Retrieved from https://researchexchange.iaao.org/jptaa/vol1/iss4/3