This month, Globest.com, the online site for timely commercial real estate content, featured commentary from Ryan Werkheiser, MAI, senior vice president of VRC’s real estate valuation practice group. In the article, Werkheiser examines the definitions of real and personal property and advises that the proper distinction between the two may have significant economic impacts for taxpayers.
“The distinction between real and personal property can apply in a variety of different contexts,” writes Werkheiser who goes on to explain, “Certain issues may arise when a creditor would like to take possession of a piece of equipment that may be integrated into the real estate…. In the property tax context, the issue relates to the taxation of property as either real or personal property.”
Werkheiser’s full commentary can be read on Globest.com here: Real vs. Personal Property