Start Date
9-12-2016 10:45 AM
End Date
9-12-2016 11:45 AM
Description
The cost approach has become a much maligned approach to value, with many parties discrediting its useful in estimating market value. However, its time to take a fresh look at the cost approach as a valid and perhaps the best valuation approach in many circumstances. As it turns out, courts have often embraced the cost approach as the best approach to valuing many different property types in many different scenarios. Using case law from across the United States and excerpts from recognized appraisal texts, this presentation shows how litigants in property tax cases have successfully defended their values using the cost approach.
Recommended Citation
Shepherd, William D. Esq., "Who's afraid of the big bad cost approach?" (2016). IAAO Annual Legal Seminar. 11.
https://researchexchange.iaao.org/legal/legal16/sessions/11
Who's afraid of the big bad cost approach?
The cost approach has become a much maligned approach to value, with many parties discrediting its useful in estimating market value. However, its time to take a fresh look at the cost approach as a valid and perhaps the best valuation approach in many circumstances. As it turns out, courts have often embraced the cost approach as the best approach to valuing many different property types in many different scenarios. Using case law from across the United States and excerpts from recognized appraisal texts, this presentation shows how litigants in property tax cases have successfully defended their values using the cost approach.