Accounting for operating leases in unit valuation appraisal

Authors

Thomas Hamilton, University of St. Thomas
David O. Vang, University of St. Thomas

Abstract

The authors demonstrate how using the process of adjusting a leased asset to an “owned equivalent” overvalues firms causing excess property tax liability. This process also creates an imbalance in debit and credit entries that are inconsistent with accounting procedures.

First Page

25

Last Page

35

Keywords

Income approach to value, Capitalization

Recommended Citation

Hamilton, T., & Vang, D. O. (2008). Accounting for operating leases in unit valuation appraisal. Journal of Property Tax Assessment & Administration, 5(3), 25-35. Retrieved from https://researchexchange.iaao.org/jptaa/vol5/iss3/2