There are four approaches to appealing Real and Personal Business Property.
Cost Approach
Used with new construction for real property and business personal property.
Sales Comparison Approach
Compare like sales comparable properties to measure your property value. This approach would also be applicable for business personal property.
Income Approach
This method uses the property’s annual income and/or a pro-forma based on market trends and data to establish a value. This would apply only to real property appeals.
Uniform & Equal Approach
This method ensures that your property is being assessed fairly in comparison to other like properties. This method would be applicable to both real and business personal property.