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