This IAAO paper was published in the Journal of Property Tax Assessment & Administration in 2017. It can be accessed through the Research Exchange.
Abstract:
This guide is intended to assist assessors in understanding and addressing intangible assets in property tax valuation and does not represent a policy position of IAAO. Laws can vary from state to state, but for the majority of jurisdictions, intangible assets are not taxable, at least not as part of the real estate assessment. As a result, assessors must ensure their real estate assessments are free of any intangible value. To help determine whether something is an intangible asset, a four-part test can be applied. This guide highlights many property types that potentially include intangible assets, such as hotels, senior care facilities, and properties with valuable trade names and franchises.