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www .willamette .com INSIGHTS • SUMMER 2020 35Property Tax Thought LeadershipinTroduCTionThere are many reasons why valuation analysts (“analysts”) may be asked to value industrial and commercial tangible personal property (“TPP”). These valuation purposes include sale/license transactions, secured financing, taxation, financial accounting, litigation, and bankruptcy.For whatever purpose the TPP appraisal is prepared (including for property tax compliance, appeal, or litigation purposes), the appraisal may be subject to contrarian scrutiny and review.In order to withstand contrarian scrutiny, par-ticularly within the property tax appeal or litiga-tion context, the industrial and commercial TPP appraisal should follow generally accepted property appraisal approaches, methods, and procedures.This discussion introduces issues related to the valuation of industrial or commercial TPP for property tax purposes. Most of these issues relate to the valuation of locally assessed industrial or co...