This document was prepared by Camins Associates for the Assessors Association of Pennsylvania.
Abstract:
The task is to develop a methodology to be used to value wind farms for real estate assessment purposes in Pennsylvania. It is the desire all parties (government and industry) to have a system of valuation that is fair, equitable and consistent throughout the State.
The parameters in developing a methodology to value are set forth as follows:
- The basis of value is market value, defined for assessment purposes “as the price a purchaser, who is willing, but not obliged to buy, would pay an owner, willing, but not obliged to sell, taking into consideration all uses to which the property is adapted and might in reason be applied”.
- Valuation must be in compliance with Pennsylvania Assessment law and the Uniform Standards of Appraisal Practice as established by the Appraisal Foundation.
- The method(s) employed are easily understood, clearly developed, and can be applied with uniformity.
