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ME219 Complex Property Tax Course II

Includes Multiple Live Events. The next is on 09/09/2026 at 10:00 AM (EDT)

Learn how completing this course gets you closer to earning a NEW! ASA Property Tax Certificate of Completion

Description

This advanced ASA course equips professionals with expertise in appraising complex personal property for ad valorem tax. Participants will gain a solid understanding of property taxation, valuation standards, and legal frameworks. 

The curriculum covers the Market, Cost, and Income approaches, emphasizing their use with assets like machinery, equipment, and energy infrastructure. Special focus is given to valuing integrated property units, managing all forms of depreciation, and meeting jurisdictional and USPAP requirements. 

Through case studies and hands-on exercises, attendees develop practical skills for credible valuations and expert testimony, preparing them for challenges in specialized industries and regulatory environments.

Instructional Methods

ME219 immerses participants in the learning process with a discussion-based curriculum that includes group involvement and asynchronous learning with limited lectures.  

Course Audience

Property Tax Appraisers

Learning Outcomes

Upon completion of the course the student will: 

  1. Explain foundational property tax concepts and legal standards as they apply to personal property appraisals. 
  2. Differentiate and apply the three primary appraisal approaches (Market, Cost, Income) to complex assets. 
  3. Assess and support depreciation and obsolescence adjustments using industry examples. 
  4. Ensure compliance with jurisdictional requirements and USPAP standards in appraisal practice and reporting. 
  5. Prepare and defend credible appraisal reports and expert testimony for property tax purpose. 

Learning Level

Fundamental

Continuing Education and Contact Hours

19.2 hours of CE are provided upon completion of the course.

Required Reading

ASA’s Valuing Machinery and Equipment: The Fundamentals of Appraising Machinery and Technical Assets 4th Ed is the authoritative textbook on the theory and methodology of appraising machinery, equipment, and technical assets. The 2020 edition includes revised and updated chapters on topics like the sales comparison approach, appraisal report writing, and valuations for financial reporting, completely rewritten chapters on topics like aircraft appraisals, and a new chapter on ad valorem tax appraisals. It also includes updated appendices with appraisal research sources, an enhanced index, and a wholly rewritten and improved glossary. 

Purchase - Valuing Machinery and Equipment, 4th Edition
   

Class Schedule

SESSION 1 - SEPTEMBER 9 2026 | 10:00 AM- 5:30 PM
SESSION 2 -SEPTEMBER 10 2026 | 10:30 AM- 6:30 PM

Virtual Class Registration Includes

  • One registrant log-in to the live sessions
  • Downloadable course materials to include a Student Manual and any additional handouts i.e. administrative/exam guidance, if applicable.  All course materials are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution.

Attendance

This is a highly interactive class. Registrants must participate in the entire class (all class sessions) with cameras turned on in order to receive a certificate following successful completion of the class. 

Final Exam

A final exam is required for completion of this course. A final exam session will be given for this class on Friday, September 11th at 10am EST. Students that cannot make the scheduled exam day and time, should notify the staff manager and check the online exam sessions on our website here. 

Download or Print eMaterials

Attendees should bring to class either an electronic copy (loaded on a laptop or mobile device) or a print copy of all course handouts to use as a reference. All course eMaterials are in an Adobe PDF format which can be viewed using the free Adobe Reader application. eMaterials are presented in color and are bookmarked and comment/typewriter enabled. When opting to print eMaterials, it is recommended that you adjust the print settings to print in black and white (or grayscale) and consider printing double-sided on recycled paper.

Fernando Sosa, ASA, MRICS

Fernando Sosa, ASA, MRICS

J. Fernando Sosa is a Managing Director in the Energy & Infrastructure Practice of Marshall & Stevens Incorporated. He is co-leader of its Chicago E&I region and oversees the execution of
valuation consulting services to the firm’s public and privately held clients.

Mr. Sosa specializes in valuation and cost estimates of tangible assets and integrated projects/facilities both domestic and international. Independent valuation consulting and opinions
are provided for buy/sell consideration, mergers, acquisitions, divestitures, and financings, financial reporting, tax reporting, bankruptcy/restructuring, feasibility, and matters of dispute
including litigation support. He is fluent in Spanish and has performed appraisals for clients throughout the United States and for multinational clients in England, Spain, México, Panamá,
Dominican Republic, Chile, El Salvador, Colombia, and Puerto Rico.

Mr. Sosa is responsible for the valuation of residential, commercial and industrial, community,distributed generation, and utility scale solar electric generation projects and portfolios, wind
electric generation projects, stand-alone energy storage, microgrids, and renewable natural gas projects. He works with our Financial Valuation Practice on financial reporting analyses. He leads
the valuation of facilities to qualify for repowering (“80/20 test”). Tax reporting assignments are most commonly provided for compliance with Internal Revenue Code Sections 861, 382, and 704(c), cost segregation (MACRS) and personal property tax. Financial reporting assignment including purchase price allocations (ASC 805), impairment testing (ASC 350 and 360), and fresh start accounting (ASC 852). Mr. Sosa has served clients in a variety of industries including aviation, construction, energy generation, entertainment, food processing, hospitality, manufacturing, medical imaging, plastic injection molding, retail, semiconductor, steel reprocessing, transportation, waste collection and recycle, water/wastewater treatment plants, and other infrastructure projects.

Employment: Prior to rejoining Marshall & Stevens, Mr. Sosa served in senior roles at Cushman & Wakefield, CohnReznick, and American Appraisal Associates. He started his valuation career in American Appraisal’s Public Accounting Service Group. He was employed by Marshall & Stevens from 2002-2005.

Education and Professional Designation: Bachelor of Science in Finance from Southeastern
Louisiana University.
An Accredited Senior Appraiser (ASA) in Machinery & Technical Specialties with the American
Society of Appraisers, he currently serves as Chair of Membership for the International American
Society of Appraisers and has served in leadership roles for the Chicago chapter of the American
Society of Appraisers including chapter President in 2022-2023.

Adam Bakula

Adam Bakula

Director - Valuation Advisory

Stout

Adam Bakula is a Director in the Valuation Advisory group based in the Chicago office.  Mr. Bakula holds the designation of Accredited Senior Appraiser with the American Society of Appraisers and has over 10 years of experience providing valuation and consulting services in various matters.  His work spans a variety of different purposes such as litigation, tax appeal, bankruptcy, financial reporting, financing, and insurance placement.   Additionally, Mr. Bakula has served as a property appraisal expert in various tax, bankruptcy, and litigation matters throughout his career.    

Mr. Bakula has experience in a wide range of industries including energy (drilling rigs, wellhead equipment, refining and upgrading, gas processing, pipeline transmission, terminal storage, underground storage, power generation), public utilities, transporation, digital currency mining, manufacturing (heavy industrial, automotive, consumer products, food, electronics, metalworking, chemicals), mining, hospitality, and retail.  Mr. Bakula has provided valuation consulting services within the United States, as well as various countries in Europe, Asia, Central America, South America, and the Middle East.

Carrie McEntire

Carrie McEntire

Managing Director

McEntire Advisory, PLLC

Carrie has over fifteen (15) years of experience providing asset appraisal, business valuation and accounting advisory services to companies, lenders, debtors and creditors. She has prepared appraisals for a variety of businesses and assets including oil and gas, midstream and upstream, wind turbines, manufacturing and fabrication, dairy farms, real estate, retail, and construction, among others. She has experience in business valuations for estate planning, divorce proceedings, shareholder disputes and economic damages. In addition, Carrie has experience providing financial management and oversight for fiduciary engagements including the sale and liquidation of tangible personal property assets through receivership and bankruptcy proceedings. 

Components visible upon registration.

How Does It Work?

  1. Log into Exam Day on your education dashboard for Friday, September 11th at 10am EST. 
  2. You will be given a verification code to enter into your dashboard.
  3. Once you enter the verification code you can now select 'start quiz'
  4. You must have your camera on and stay muted.
  5. You will have one hour to complete the exam.
  6. Submit and exit zoom. 

Tips for Online Exams

  1. As connectivity issues do arise, we recommend you write down your answers on a separate sheet of paper as you go.   If any technical issues were to disrupt your exam, you will have a record of your answers available.
  2. Once you are finished, you will submit your exam via the online software and be notified of pass or fail only, scores are not given.

Questions?  

Email us at [email protected] or call 800-272-8258.