Golf, Country, and Sports Club real estate typically includes valuation on both land and improvements used for the purpose of recreation.
A county appraisal district (CAD) will typically place buildings in the categories shown above for appraisal purposes based on their highest and best use. A CAD will derive two different values when appraising a property: Market Value and Equity Value.
Due to the nature of their business, the Market Valuation approach used by the CAD on these properties is the Cost Approach including any evidence of new construction or remodeling. Cost Approach can also be supported by the Sales Approach where market data and comparable sales in the area point to a lower value.
The Equity Value, also known as Uniform and Equal, is based on the CAD’s valuation of Comparable Properties and can also be used to fight for a lower value.
Bettencourt Tax Advisors, LLC has an experienced BPP team that can provide Business Personal Property (BPP) tax services, too.
Contact Bettencourt Tax Advisors, LLC for more information on how BTA can help you lower your property tax values.