Improving the Maine Enhanced Real Estate Appraisal Process

When determining the value of improved real estate, the property should be valued based on its best use as of April 1 of each year. The three different valuation processes that can be used are cost, revenue capitalization, and sales comparison. An appraiser must also take into account “age, condition, use, type of construction, location, design, physical characteristics and economic characteristics”, instead of using only relevant factors .

State-specific rules and regulations change often, and it’s important to be aware of the changes. This is where Allyn comes in! Allyn Tax acts as an extension of your team to help your business minimize liability, mitigate costs, maintain compliance and maximize tax savings. If you need additional guidance on how to approach tax analysis, reporting and remittance, ask an expert here:

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