Morris Ellison of Wombie Bond Dickinson on the importance of identifying and separating tangible and intangible income components.
An acquisition of an income-producing property is often an investment in much more than land and improvements. Tangible and intangible personal property can combine with the land and buildings or improvement to produce the income stream valued by investors. Because intangible property is exempt from property tax, identifying the presence of intangible personal property and appropriately allocating values to these components offers savvy investors the opportunity to save money both in the acquisition and, in some cases, for years thereafter...
RSK: Separating tangible from intangible assets is not an easy thing to do. But if done right, it can save you real estate taxes well into the future.
Ken Notes: A good development agreement should benefit both the community and the developer.
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- - Volume: 10 - WEEK: 25 Date: 6/14/2022 9:32:52 AM -