No. of Recommendations: 2
Ok, so tax private shares too, was what I was about to say, but I suppose those have no defined value.
It's a logistical nightmare. At least with real property, most of what the property appraiser needs to know is public knowledge. The size of the property, its location, the use and the physical improvements are all matters of public record. Most states also require the disclosure of the purchase price of every real property sale. All of which allow for the assessment of real property, because the government has most of the information it needs.
How would you define the value of, say, an automobile dealership or someone's local restaurant without reviewing its books? Without having access to the actual business records, you don't know the company's assets or revenues or debt or anything.
