This web class will consider the challenges of valuing properties which suffer from some form of contamination. It will look at environmental impairment and how it impacts on valuation.
Valuing property that is subject to some form of contamination is particularly difficult. Much depends on the nature of the contamination/impairment and the type, and cost, of necessary remediation works. The web class will be presented by a lawyer and an appraiser, both having considerable experience in dealing with this type of valuation work. They will look at issues concerning the highest and best use of the property as impaired and consider how the three main valuation approaches need to be adapted to reflect the contamination. In addition to looking at the cost of necessary remediation work, they will also consider the liability impacts, use limitations, and possible stigma attached to contaminated properties. They will also cover how to deal with such properties within a mass appraisal environment. Up to date information about the law concerning contaminated properties and practical guidance on the preparation of valuations relating to such properties will be provided.
This course is developed as part of a collaboration with International Property Tax Institute (IPTI) and RICS to provide specialized property tax and assessment valuation trainings suitable for the US marketplace.
This 90-minute web class will include presentations from two experienced experts followed by a question and answer session.