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Lee County, MS • Tax Year 2024 • pending
Current Assessed
$14,200,000
Calculated Value (Income Approach)
$11,800,000
Difference
$2,400,000
Generic 7.5% cap rate applied — hotel-specific rate should be 8.5-9.0% for select-service in secondary market
$1,200,000No FF&E deduction — furniture/fixtures/equipment represents 15% of total investment ($3.35M) which is personal property, not real
$950,000No business enterprise value deduction — Marriott franchise adds 8% intangible value that should not be assessed as real property
$250,000Strong Appeal — Estimated annual savings of $32,000