State and Local Taxes – The increased sophistication in the valuation of real estate for property tax purposes has evolved over the years as SALT professionals recognized the taxing jurisdictions’ methodology of assessing real estate did not segregate the additional assets inherent to the value of the entire property and necessary for business operations.   These additional assets include Business Personal Property (machinery, equipment & inventory) as well as intangible (not taxable under property tax) assets including Brand Value, Workforce in Place, third party leases for auxiliary services, etc.

The Counselors of Real Estate SALT SIG has taken the lead in property tax education with guest speakers analyzing recent cases and discussing new approaches the property tax appeals.  We have also been strong advocates for change within the industry and the courts to standardize the definition of the taxable interest being assessed.