IncomeWorks for Assessment Professionals

IncomeWorks has real potential to equitably enhance the tax base for income producing properties... that is why it was invented. IncomeWorks ensures real estate tax equity and has been proven accurate from its first year of implementation. IncomeWorks provides the tools for accurate market evaluation of income-producing real estate, and also offers direction and instruction regarding concepts & issues that current assessment practice cannot address.

EQUITY is the GOAL. Believe it. Accurate assessments of commercial, industrial, and apartment properties can result in a very significant, yet equitable rise in the tax base. Political fallout from an equitable and supportable increase will not form (as it might in the residential sector) - indisputable market facts will preclude this. Assessed values will not all rise or lower across the board if the market is used as a benchmark.

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Most CAMAs have an income template, why not use that?

Templates require you to fill in the data. There isn’t enough time for Assessment Professionals to do all the tasks charged to them and hit the streets to do market surveys too. IncomeWorks is a product AND a service. We do the surveys for you. We professionally analyze the data. We provide the surveyed data in a format Assessors can and will use. Work more efficiently doing what you do best and let us do what we do best!

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Annual... Biennial... Triennial... Quadrennial... How can ReVALs be better?

Model nearly all of your commercial properties with IncomeWorks. Initial modeling takes only minutes per property. Then, at ReVal time, automatically update to as-of another year. The time savings alone is enormous, but the real bonus: like your original IncomeWorks reports, the ReVals are also based on supportable, up-to-date market rates and ratios. IncomeWorks, driven by your expertise, provides an Income Approach based on Objectively Verifiable market parameters.

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Want to settle appeals before the hearing and spend less time in court?

Commercial appeals can now be settled BEFORE the hearing with IncomeWorks. It’s true and proven. IncomeWorks provides the vehicle by which both sides can arrive at a mutually agreeable result based on the market. Bona fide disparities can be adjusted via a supportable & objectively derived measure of obsolescence. Implementation of the Income Approach using IncomeWorks at last affords both sides the ability to consider market information.

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Is there a way to verify provided information, whether from a surveyed owner or a tax rep?

IncomeWorks provides the market rent, vacancy, expenses, and cap rates from the local market. Educational information is included to help the assessor analyze data provided in appeals; for example... what can and can't be included in expenses and what are the different types of value. And it’s not just about the data - IncomeWorks arms the assessor with the tools needed to more effectively support a cost-based figure or argue a case.

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How can assessors rely less on contractors? What happens to in-house work when assessment personnel change with an election?

IncomeWorks is understandable and very easy to use. Be up & running with in-house modeling of most commercial real estate, accurately and supportably, without contractors (and have Income Approach concepts reinforced every time you log in). Staff changes? IncomeWorks can help bridge the gap between outgoing and incoming employees, and it can be used by clerks and trainees to red flag or crosscheck the cost based values for assessors and deputies.

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How can cost-based assessments be verified?

Compare the Cost Approach to the Income Approach with IncomeWorks. Many properties are correctly assessed... many are not. It is in all our best interests that real estate be equitably and correctly assessed. IncomeWorks can help. If the Cost and Income Approaches are very different, IncomeWorks has the one & only Obsolescence Analyzer; obsolescence is described and measured using real percentages. Tests are provided for each property type; these specific tests help to zoom in on discrepancies within assessments with supportable percentages based on the market.

IncomeWorks is offered in a format exclusively for Ratio Study use:

Increase your degree of confidence and sample size quickly, easily, supportably, with IncomeWorks.

IncomeWorks can help to equitably balance the tax base for income producing properties... that is why it was invented. Verify your own analyses. Check the work done by local assessors for Statewide consistency. Have access to data and insight into markets. Increase your sample size. The bonus: IncomeWorks trains and reinforces income approach concepts to assessment professionals as they use it. Affordable and hands-on, IncomeWorks can be tailored to aid in your current statistical modeling, to easily (and supportably) enhance your sample size, or to use in any other way that would further solidify (or test) the accuracy of your studies.

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