WSU CMD

Center for Management Development

W. Frank Barton School of Business - Wichita State University
Public Utility Basic Appraisal Course©


Public Utility Basic Appraisal Course©

Public Utility Basic Appraisal Course©

Seminar Date: October 8 - 12, 2012

Location: CMD Training Center - Wichita, Kansas
Time: 8am-4:30pm
Led by: Mr. Tom Tegarden & and Ms. Diane Ange

Price: $1,595.00 


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Download the 2012 brochure: Public Utility Basic Appraisal Course©

At least 35 states assess the properties of public utilities, energy and transportation companies using central assessment/appraisal procedures. The ad valorem tax and assessment on these companies provides a hefty share of the local property tax revenues annually. This intensive, week-long course will give you the essential information and working knowledge that is critical for appraisal professionals.

This program allows you the opportunity to learn advanced concepts early in your career, enabling you to avoid costly mistakes made in the learning process. Led by accredited professionals who have refined and tested their appraisal methodologies over years of successful central assessment and litigation, this class will jump-start your ability to understand the complex appraisal principles and procedures used in central assessment. You’ll come away understanding the proper application of generally accepted appraisal concepts and fully prepared to eliminate misapplications and costly errors.

YOU'LL LEARN:

  • Valuation theory & methods
  • The appraisal process
  • Differences in appraising general commercial properties (single properties) and public utility companies (regulated and unregulated)
  • The various types of value with emphasis on market value.
  • Important appraisal principles and their connection to the unit appraisal process.

As a participant, you’ll be also be thoroughly introduced to the topics below and see their application first-hand in the appraisal process.

TOPICS INCLUDE:

  • Appraisal theory and valuation techniques for regulated, as well as unregulated, utilities
  • The cost approach and its application in the unit appraisal process including the measurement of all forms of depreciation (physical, functional and external)
  • The income approach and its application in the unit appraisal process including:
  • The differences between direct and yield capitalization and the requirements for application of each.
  • The measurement of the standard cost of capital, the weighted after-tax cost of capital, and the pre-tax cost of capital and when to apply each.
  • Matching the proper capitalization rate or yield rate with the right cash flow.
  • Common appraisal mistakes made in the income approach
  • The sales comparison approach theory utilizing the stock and debt approach as a surrogate
  • Reconciliation process
  • Allocation and distribution of the appraised values
  • Additional, valuable insights into special cases, such as, leased equipment, pre-tax cap rates with all equity financing

COURSE DESCRIPTION:

You’ll receive in-depth course materials and will complete a variety of course work specifically designed to maximize your learning experience. In addition, you’ll participate in illustrative case studies that give you the opportunity to see the application of the principles you’ll learn.

There is no other course, school, or workshop available providing the opportunity to obtain this valuable, in-depth appraisal information applicable to centralized appraisal and assessment.  You’ll gain thorough, step by step application of the tools and techniques that require years and years of experience to develop on your own. In addition, you’ll be able to establish valuable industry contacts and work in class with other professionals facing the same challenges in their appraisal/assessment responsibilities as yourself.

INSTRUCTORS:

Mr. Tom Tegarden
Tom Tegarden is the President of Tegarden & Associates, Inc., and a graduate of Middle Tennessee State University (accounting) and holds the MAI and CAE professional appraisal designations.  He is a Certified General Appraiser in the States of Tennessee, Michigan and Minnesota.  Mr. Tegarden is a senior instructor for the International Association of Assessing Officers and he is one of the authors of the current IAAO basic courses, as well as a contributor to their current textbooks.  He is the author and primary instructor of the copyrighted course material for this 5 day intensive course in the appraisal of public utility and railroad property.  He is also in charge of the Principles Section of the Annual Appraisal for Ad Valorem Taxation of Communication, Energy and Transportation Properties workshop at Wichita State University.  Mr. Tegarden formerly was the Assistant Director of Assessments for the Tennessee Public Service Commission (15 years).  In 1983, he started his own appraisal firm, Tegarden & Associates, Inc.  The firm serves numerous state, county and city government clients from Florida in the Southeast to Canada and the North Slope of Alaska in the Northwest and several public utility companies as well.  The firm does not restrict its services to taxing authorities or taxpayers, rather, appraisal and consulting services are provided to all clients.  He has been published in the Appraisal Journal, Public Utilities Fortnightly, Assessment Digest, Journal of Property Tax Management, Property Tax Journal and Journal of Property Tax Assessment & Administration.

Ms. Diane Ange
Diane Ange, SRA, CAE, is an appraiser/consultant with Tegarden & Associates, Inc., an appraisal/consultant company specializing in the appraisal of public utilities and railroads, located in Nashville, Tennessee. Prior to her current work, she worked for the Hendry County Florida Property appraiser's office, where she was responsible for the appraisal and tax roll preparation of all classes of property including public utilities. Ms. Ange is a senior instructor for the International Association of Assessing Officers.  She has given many seminars and class room instruction for IAAO, both at the national, state and local levels. She was also a part of a four-member team that wrote the latest two IAAO course offerings covering cost, income and sales comparison approaches to value as well as writing the new Depreciation Analysis Workshop for IAAO. Ms. Ange has served on many committees of the various appraisal organizations of which she is a member and was elected to the Executive Board of IAAO. She is a graduate of Mississippi State University. Her appraisal education is through courses from the Appraisal Institute, IAAO, Lincoln Land Institute, Society of Real Estate Appraisers and the Public Utilities Workshop in Wichita, KS.

Enroll today as space is limited. We look forward to seeing you this fall!

 
  • Students should have had basic appraisal courses covering the cost, income and sales comparison approaches from the Institute of Property Taxation (IPT), the Appraisal Institute, or the International Association of Assessing Officers (IAAO). Having a background of the basic courses will enable to student to more easily learn the intricacies of the appraisal process as it applies to the ad valorem assessment of central assessed public utilities, energy, and transportation companies.
  • Please be advised that you must bring an HP-12C calculator for use throughout the duration of the course. This calculator can be purchased at a variety of retail outlets.
  • The week-long course adheres to generally accepted appraisal procedures taught by the Appraisal Institute and the International Association of Assessing Officers (IAAO) and qualifies for 33 hours of continuing educational credits.

If you have any questions please fee free to contact Paula Seiwert at  paula.seiwert@wichita.edu or 1.800.992.6345.

LOCATION:

Public Utility Basic Appraisal Course© will be held on the Wichita State University (WSU) campus. WSU is located in Wichita, Kansas, proudly recognized as the Air Capital of the World, boasting many major aerospace companies.  WSU is one of the nations leading universities in Aerospace research, home to the National Institute for Aerospace Research and one of the largest Universities in the Kansas Board of Regents Schools.  

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