Take a minute and look around you at all of your machinery and equipment. You’ve paid a hefty sum for it and kept it in good condition. Isn’t your machinery and equipment one of the most valuable assets you own?
Knowing the true value of machinery and equipment can help you run your business more efficiently. For example, if the taxing authorities think your assets are more valuable than they really are, you can expect to pay higher property taxes. A certified appraisal can assist you in lowering taxes which will mean more dollars in your pocket.
Another illustration as to why certified appraisals make sense is that in the unfortunate event of fire, water damage, or other loss, the insurance adjusters will have a basis for determining the settlement amount. A guess, book value, or depreciation schedule will not do the job when a dispute arises.
And, an obvious reason for getting machinery and equipment appraised by a certified appraiser is to expedite loan and financing approvals. Loans are often denied because collateral is not accurately substantiated and valued. Having a certified appraisal will give lenders confidence in the collateral used to support your loan request.
It is important to consider a certified appraisal for a variety of reasons. If you have any questions, please contact Brumbaugh Appraisals at 919.870.8258 or email us at email@example.com, or simply fill out our contact form.