Milwaukee, WI (October 28, 2020) Ryan Werkheiser, Senior Vice President at Valuation Research Corporation (VRC), a leading global provider of independent valuation support and advisory services, will present at the Institute for Professionals in Taxation (IPT) 2020 Property Tax Symposium Webinar Series. Werkheiser will be presenting on Thursday, November 5.
The 2020 IPT symposium will consist of a series of 17 webinars, which will be streamed during the months of October and November. Each webinar will cover timely topics and current issues of importance to today’s property tax professionals.
Werkheiser’s webinar, titled “External Obsolescence: Identification and Substantiation,” will take place from 11 a.m. to 12:15 p.m. EST on November 5.
This session will examine ways not only to determine the existence of external obsolescence (E/O) but also how best to prove it in a court or tribunal.
After attending the session, participants will be able to:
- Recognize typical deficiencies in the cost approach as performed by local assessors
- Identify the conditions that may cause external obsolescence for a particular property or specific industry
- Demonstrate the eight recognized methods of identifying and quantifying external obsolescence
- Evaluate the associated advantages and drawbacks of each method
- Analyze the various methods of presenting and supporting an external/economic obsolescence analysis in court
- Discuss actual case law/rulings supporting the use of E/O in assessment appeals
Werkheiser specializes in the valuation of complex, user-based real property. He has experience with automobile and powertrain assembly, paper mills, integrated steel mills, printing and publishing facilities, breweries, shipyards, professional sports stadiums and more. He also has extensive experience completing and defending cost segregation studies for a variety of businesses and industries for federal tax purposes. Werkheiser presented “Real vs. Personal Property” as it relates to ad valorem at the 2018 IPT Property Tax Symposium.
More information about the webinar series can be found here.