If there is one common mistake appraisal agents often make, it’s that they fail to classify or separate intangibles in personal property to tangible personal property. This can lead to a miscalculation of a property’s value and you’ll likely be losing money by paying too much or not paying enough. But to fully understand the berth of intangibles, how does it differ to tangible property? What are Commercial Property Intangibles? Colloquially, intangibles are something you can’t touch or does not have any physical presence. In tax and real estate, it’s really a lot like that. It’s something other than physical properties such as lands and building structures. A few examples of intangible properties are a leases, accounts receivable, your money in the bank, or any intellectual properties such as trademarks and patents. Business value is also deemed as an intangible property. Suffice to say, intangible properties are not taxable, and therefore, should NOT be included in appraising a proper...