Expert witness testimony is a subset of litigation support services. The expert witness’ primary responsibility is to develop and support a credible opinion of value. The standard of care for expert witness assignments is written to appropriate standards for courtroom use. Both opposing counsel and the expert witness representing the other party will likely carefully review and scrutinize the expert’s underlying data, analysis and final report. (more…)
Posts Tagged ‘cost segregation’
Expert Witness Testimony for Real Estate
Tuesday, November 3rd, 2009New Home Construction Affects Home Tax Values
Wednesday, October 7th, 2009Most people see new home construction in their neighborhood as a good thing. New homes typically help increase the market value of properties, so when someone in an older home goes to sell, they often can ask a higher price than areas without new construction. But too often the county takes that a step too far and assumes the assessed value of the older homes is the same for the new homes. Most of the times, this isn’t the case. (more…)
Property Income Tax Reduction in Texas
Wednesday, October 7th, 2009The Texas Property Tax Code for many years had required owners of business personal property (BPP) to annually render those assets used in a business. Rendering is summarizing to the central appraisal district the ownership and value of the assets. Historically, however, over half of all owners of business personal property have not rendered. (more…)
Assessment Evaluation of Restaurants
Tuesday, October 6th, 2009Many restaurant owners have been shocked to learn that they are unable to sell or lease their restaurant property for an amount equal to its tax assessment value. The market value of a recently built restaurant is usually less than its construction cost. When an owner attempts to set a sale price or lease rate, he is unable to recoup his costs. Excess property taxes result from improper use of the cost approach to market value. (more…)