Linda Brown RES CAEReal Estate/Land Records Manager

Buncombe County

Income Approach: Before Appeals

Consistency Relationships Information Confidence Limit informal appeals Saves time Value income producing property when

limited sales data is available

Retail Apartments Office Buildings Golf Courses Hotels Manufactured Housing Rental Parks

228,000 Square foot Resort Hotel built in 1912

Donald Ross Golf Course 150 acres Last sold 1955 $40 million dollar Spa added in 2001

cost exceeded value added to property

Using the income approachAssessed in 2006 for $115,000,000

Sold May 2010 for $103,528,000

175,000 square foot residence with 250 rooms, indoor pool, elevators, bowling alley, stables

Original construction completed 1895 Main building estimated reproduction cost

$200 million Winery, multiple restaurants and retail shops Hotel 2,400 acres Property has never sold

Consistency Ability to value income producing

property when limited sales data is available

Information developed by staff Relationships with property owners Staff confidence Most appeals are settled locally