Class 504 Workshop
State Class Code 504 property is business personal property owned by regulated public utility companies used in the distribution of natural gas to customers or used in electric power transmission and distribution within each municipality. This property is subject to taxation based on assessed values determined by local Boards of Assessors under G.L. Chapter 59 and subject to review and certification by the Massachusetts Department of Revenue (DOR).
This workshop will review the valuation methodology adopted by the Appellate Tax Board (ATB) in the most recent cases before the board and affirmed by state Supreme Judicial Court (SJC) effectively establishing a new methodology to arrive at full and fair cash value or market value for property tax purposes. The workshop will include a demonstration of the calculation of replacement cost new and an examination of physical depreciation and functional obsolescence factors. Economic obsolescence due to regulatory constraints on investor earnings will be explained based on the ATB and SJC findings and how Net Book Value (NBV) is used in that determination.
The workshop will also include an opportunity for open discussion of the new methodology and questions & answers with state and local experts.
Date: August 4, 2020
Time: 8:30 am - 4:30 pm with 1 hour for Lunch
Location: via Zoom
Credits: 7 credits
Instructor: Gary McCabe, CAE
The cost for the course will be: MAAO Member - $150.00 Non-Member - $225.00
MAAO Cancellation Policy: To receive a refund, you must notify Paula Rubley via email at email@example.com by July 30, 2020, there are no refunds granted after that date.
Make checks payable to: Massachusetts Association of Assessing Officers or MAAO
Please send your payment to: MAAO,44 Bearfoot Road, Suite 200, Northborough, MA 01532. If you need the MAAO's W-9, you can find it on the MAAO's website in the Resources tab under the About along the top rail.