Commercial Property

The Assessor determines the actual value of commercial and industrial real property every two years in odd-numbered years by considering the three approaches to appraisal.

The market, or sales comparison approach uses arm’s length market sales of similar properties which are analyzed, compared, and adjusted to arrive at a value for the property.
The cost approach estimates the material and labor costs to replace the subject property, and then the property value is calculated by subtracting accumulated depreciation from the replacement cost new.
The income approach estimates the present value of future benefits to be derived from a property by capitalizing net income into an indication of value.

Choosing the most appropriate approach for a property’s value requires extensive knowledge of economic trends and the real estate market, but ultimately it comes down to identifying the factors that would influence an investor’s decision-making process.

Related Information

Property Tax Calculations
How to Calculate Taxes – This is a step by step illustration of how to calculate property tax.
Commercial Valuation Data

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