But, officials estimate the value of the properties would go up as a result of the improvements. They expect that the owners of the properties would pay about $11,164 more each year in taxes because of the increased property value. It’s that amount — about $62,343 in city and county taxes — that the two governments would forego as a result of Tuesday’s vote. Of that, about $62,343 would have gone to St. Petersburg and the remaining $49,301 would have gone to the county.
There can be differences between what the property is really worth (market value) and what it cost to buy it (price). A price paid might not represent that property's market value. Sometimes, special considerations may have been present, such as a special relationship between the buyer and the seller where one party had control or significant influence over the other party. In other cases, the transaction may have been just one of several properties sold or traded between two parties. In such cases, the price paid for any particular piece is not its market "value" (with the idea usually being, though, that all the pieces and prices add up to the market value of all the parts) but rather its market "price".

These appraisers also perform valuations on commercial property ranging from single to multiple tenant office buildings, shopping centers, retail, industrial, malls, hospitals, health care facilities, warehouses, and hotels to multi-family apartment buildings, co-ops, senior housing, condominium developments, and even vacant land, agricultural, and golf courses.  Regardless of the property type or local zoning, they'll determine the highest and best use of the project and assess the value using the actual or projected cash flow from the property's rent roll and financial statements, using both cap rates for capitalizing year one net operating income (NOI) and discounted cash flow (DCF) of multiple future income streams.  If you're a commercial lender, investor, builder, contractor, architect, or agent, you'll want to use these appraisers to conduct a feasibility analysis of any income producing real estate project you may be considering.  They can also help consult on construction costs and projected absorption rates.  They generally produce a commercial narrative appraisal when engaged for any commercial assignment.

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