Journal of Property Tax Assessment & Administration


Both assessors and taxpayer appraisers (collectively, appraisers) may be asked to estimate the value of taxpayer intangible assets for a variety of property tax reasons. Some jurisdictions assess taxpayer intangible personal property; some jurisdictions exempt taxpayer intangible personal property from property taxation. This intangible asset exemption is a particularly important consideration for corporate taxpayers that are centrally assessed using the unit valuation system of assessment. Such centrally assessed taxpayers include utilities, pipelines, railroads, airlines, telecommunications companies, and others. In such jurisdictions, it is appropriate for the appraiser to (1) identify the taxpayer intangible assets and (2) extract this intangible asset value from the total value of the taxpayer’s operating unit subject to property taxation.

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Intangible property tax