Journal of Property Tax Assessment & Administration
Abstract
An overview of court decisions regarding special-purpose properties and a discussion of a possible legislative solution involving the concept of market aggregation. The legislation could set a threshold for what would be considered a competitive market. For example, where there are four potential buyers identified, the property is to be valued to a market value standard. Anything less than four potential purchasers triggers the regulated procedure. Four to six is the range that the author imagines would be acceptable to the players in the marketplace, namely, buyers, lenders, and shareholders. Or, if this number of buyers is impractical for the assessor, the threshold can be as low as the courts’ use of two potential purchasers.
First Page
25
Last Page
38
Keywords
Market approach to value
Recommended Citation
Thair, S. (2011). To market, to market : establishing an approach to market value for special purpose properties that is fair. Journal of Property Tax Assessment & Administration, 8(2), 25-38. Retrieved from https://researchexchange.iaao.org/jptaa/vol8/iss2/2
