This paper examines the effect of recent proposals for tax reform (Treasury I and Treasury II) on the tax benefits and value of real estate income property. The effect on tax benefits is measured by the effective tax rate, and the potential impact on value is measured by the capitalization rate...

Standard value models for investment real property do not distinguish between current income and future growth in estimating the probable level of debt financing. Analysis of loan commitment data from 1971-1981 suggests that this was not a proper assumption during that period. Consistent with...

This study develops a valuation procedure and a model for estimating the impact of the presence of asbestos-containing materials (ACMs) on real estate income property. A key aspect of the valuation procedure is that the value of a property with asbestos, and hence the value adjustment for the...