Spring 2025 FCIAAO Newsletter

Conference General Session Shepherd set to demystify Intangibles In property tax assessment, "intangibles" refer to non-physical assets or elements associated with the property that are not directly tied to the real estate's physical characteristics. These intangible assets can influence the overall value of a property, but they are generally excluded from the taxable property value when assessing property taxes. Court cases from Florida to California are again raising the issue of property tax real estate assessments improperly including the value of intangibles. And the argument is not just being raised in hotel cases -- the claims are arising in cases involving shopping centers, condominiums, etc.

Be sure to join us for the General Session on Wednesday, April 30, at 3:30 pm to learn how this issue is affecting valuation challenges. Will Shepherd, Esq. will cover everything you need to know about intangibles! One major challenge: While intangible assets aren’t directly taxed, their value may influence how a property is valued for income-producing properties. An income approach to valuation can consider the potential income a property generates, which might indirectly reflect the impact of intangible assets. Attorney Will Shepherd is the president of William D. Shepherd, P.A. where he practices property tax and real estate valuation litigation. Will has represented property appraisers in Florida and around the nation in all aspects of property tax law for more than 30 years. He was general counsel for the Hillsborough County Property Appraiser in Tampa, Florida for 26 years during which he represented the office in all matters involving real estate and tangible personal property valuation, tax exemption and agricultural classification disputes at the administrative, circuit court and appellate court levels.

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SPRING 2025