CONCEPT #13 OF 100 · Property Tax Appeals & CAD Audits · LAYOUT: executive_draw_ledger
Commercial Income Capitalization & Fee-Simple Tax Appeal Dossier
Standard / Reference: IAAO Commercial Income Approach Standard · Loaded Cap Rate = Base Cap + Effective Tax Rate
Why professionals use this template: Commercial owners contesting inflated cost-approach assessments by presenting stabilized Direct Capitalization NOI worksheets with tax-loaded cap rates.
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Included Financial Metrics & Line-Item Schedule
Target Roles: Commercial Property Owners, Hospitality Operators, REITs & Tax Counsel · Search Keywords: commercial property tax appeal income approach capitalization worksheet, stabilized noi tax appeal template, loaded cap rate tax protest, intangible business value exclusion
COUNTY COST APPRAISAL
$4,850,000.00
STABILIZED NET OPERATING INC
$334,890.00 / YR
TAX-LOADED CAP RATE
9.15% (7.75% + 1.40%)
INDICATED INCOME VALUE
$3,660,000.00 (-24.5%)
| CODE | DESCRIPTION & TECHNICAL SPECIFICATION | BASIS / QTY | AMOUNT / DELTA |
|---|---|---|---|
| INC-PGI | Potential Gross Rental Income (42,000 RSF @ $14.50/RSF Market Rent) | 100% Occupancy | $609,000.00 |
| INC-VAC | Market Vacancy & Collection Loss Allowance (12.0% Submarket Retail Vacancy) | -12.0% Market | -$73,080.00 |
| INC-EXP | Operating Expenses Excl. Property Taxes (Insurance, CAM, Mgmt, CapEx Reserves) | Audited P&L | -$201,030.00 |
| VAL-CAP | Capitalized Fee-Simple Real Estate Value ($334,890 NOI ÷ 9.15% Loaded Cap Rate) | Direct Cap | $3,660,000.00 |
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