Bookmark

Mike is a managing director providing direction and technical support on special-purpose and large multiproperty/multidiscipline valuations.

Mike has extensive valuation experience in ad valorem tax, allocation of purchase/sale price, fair market value studies in use or in exchange, and financing.  Industries served include chemicals, high technology, oil and gas, paper, public utilities, railroad, telecommunications, and trucking.  Properties appraised include computer manufacturing facilities, dams, electric generation and transmission property, hydroelectric plants, nuclear power plants, oil refineries, petrochemical plants, pipelines, railcars, tire manufacturers, and wineries.  Mike has valued a majority of the oil refineries in the United States.

Mike has testified as an expert witness before various county and state tax boards and courts in California, Colorado, Connecticut, Florida, Illinois, Kansas, Maryland, Michigan, Missouri, New York, North Carolina, North Dakota, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

Mike joined American Appraisal in 1977.  He has specialized in various valuation disciplines including ad valorem, real estate, and regulated industries.  Before joining American Appraisal, he was an engineer for Ladish Company.

Education

• University of Wisconsin - Milwaukee, Bachelor of Science - Applied Science and Engineering
• University of Wisconsin - Milwaukee, Graduate-Level Courses in Engineering

Professional Affiliations

• American Society of Appraisers, Accredited Senior Appraiser
  • Machinery and Technical Specialties (M&TS)/Public Utilities
  • Treasurer of the Technical Valuation Committee 1991-1993
  • Editor - Machinery & Technical Specialties Journal 1995-1997
  • Secretary of the M&TS Committee 1997-1999
  • International Board of Examiners 2003-Present
• Institute of Electrical and Electronics Engineers
• Institute for Professionals in Taxation, Certified Member of the Institute
• International Association of Assessing Officers
• International Committee on the Valuation of Plant Machinery and Equipment
• National Society of Professional Engineers
• Wisconsin Society of Professional Engineers, Registered Professional Engineer

Professional Development

• American Society of Appraisers
  • Advanced Business Valuation
  • Business Valuation I
  • Uniform Standards of Professional Appraisal Practice
• Appraisal Institute
  • Appraisal Principles
  • Standards of Professional Practice
  • Separating Real and Personal Property from Intangible Business Assets
• Center for Business Intelligence
  • Profit with Nuclear Power
• Institute for Professionals in Taxation
  • Property Tax School
• Public Utilities Reports, Inc./The Management Exchange, Inc.
  • Determining the Cost of Capital
• Western Michigan University
  • Depreciation Program II
• Wichita State University/National Tax Association
  • Appraisal for Ad Valorem Taxation of Communications, Energy and Transportation Properties

Numerous additional continuing education courses from various providers

Speeches

Mike has spoken to numerous groups on the valuation of unique and special-purpose properties.  Groups addressed include the American Bar Association, The Institute for Professionals in Taxation, the Tax Executives Institute, the American Petroleum Institute, Western States Petroleum Association, Real Estate Center of Texas A&M University, International Association of Assessing Officers, Guangzhou Appraisal Society, the International Plant and Machinery Valuation Conference, and the American Society of Appraisers.  He is also an instructor at various American Appraisal education forums.

• “Alternative Energy Forms in the US,” WSPA Property Tax Educational Forum, Lake Tahoe, California, August 2011
• “Functional Obsolescence:  Real Life Stories,” IPT Property Tax Symposium, Austin, Teas, November 2010
• “Functional Obsolescence:  Real Life Stories,” ASA Wisconsin Chapter, Milwaukee, Wisconsin, November 2010
• “Challenging a Business Property Assessment:  Lessons from Assessment Scenarios,” Strafford Publications, Inc., Teleconference/Webinar, October 2010
• “The Valuation of Tangible Property Integrated within an Operating Business,” 30th Annual National Conference of State Tax Judges, St. Paul, Minnesota, September 2010
• “Functional Obsolescence:  Real Life Stories,” WSPA Property Tax Educational Forum, Lake Tahoe, California, August 2010
• “Economic Obsolescence:  Real Life Stories,” IPT Property Tax Symposium, Tampa, Florida, November 2009
• “Economic Obsolescence:  Real Life Stories,” WSPA Property Tax Educational Forum, Lake Tahoe, California, August 2009
• “Personal Property Tax Appeals/Valuation,” ABA/IPT Advanced Property Tax Seminar, New Orleans, Louisiana, March 2009
• “Wind Farms:  Issues and Value,” 2008 WSPA/CIPA/PSAC Joint Conference, Oxnard, California, January 2008
• “Business Valuation Relationships with Plant and Machinery,” 5th International Conference on the Valuation of Plant Machinery and Equipment, London, UK, October 2007
• “Wind Farms:  Issues and Value,” WSPA Property Tax Educational Forum, Lake Tahoe, California, August 2007
• “Technical Real Property Issues and Property Taxation:  Heavy Manufacturing, Utilities and Process Industries,” IPT Annual Conference, Orlando, Florida, June 2007
• “What Makes a Business a Going Concern?  Intangible Assets 101,” 16th Annual ABA/IPT Advanced Property Tax Seminar, New Orleans, Louisiana, March 2007
• “Environmental Remediation and its Effect on the Value of Oil and Gas Properties,” CICBV & ASA 2006 Joint Business Valuation Conference, Toronto, Ontario, Canada, October 2006
• “Electrical Pricing:  California and Beyond . . .,” WSPA Property Tax Education Forum Lake Tahoe, California, August 2006
• “Electrical Generating Plant Valuations in a Deregulated/Regulated Market,” WSPA Property Tax Educational Forum, San Diego, California, September 2005
• “Appraising for Ad Valorem - Preparing for Litigation,” ASA Wisconsin Chapter Seminar, Milwaukee, Wisconsin, May 2004
• “Intangible Assets:  What Makes a Business a Going Concern,” WSPA Property Tax Educational Forum, Tempe, Arizona, September 2003
• “Appraising for Ad Valorem - Preparing for Litigation,” ASA 2003 International Appraisal Conference, Tampa, Florida, July 2003
• “Valuation of Intangibles and Intellectual Property,” 3rd International Conference on the Valuation of Plant Machinery and Equipment, Sydney, Australia, October 2002
• “The Valuation of a Complex Property: An Operating Business,” Guangzhou Appraisal Society, Guangzhou, China, September 2002
• “The Valuation of Upstream Reserve Assets,” CNOOC International Beijing, China, September 2002
• “Measurement and Quantification of Obsolescence: Economic Obsolescence,” 3rd International Conference on the Valuation of Plant Machinery and Equipment, Sydney, Australia, September 2002
• “Valuation and Property Tax Management for Nuclear Generating Assets,” The Renaissance of Nuclear Power, Center for Business Intelligence, Chicago, Illinois, December 2001
• “Identifying and Quantifying Economic Obsolescence,” IPT Property Tax Symposium, La Jolla, California, November 2001
• “Identifying and Quantifying Economic Obsolescence,” WSPA Property Tax Educational Forum, Oxnard, California, September 2001
• “Deregulation and its Effect on Power Plant Values,” IAAO Public Utility Seminar, Sparks, Nevada, March 2001
• “How Appraisers Prepare Valuations Subject to Litigation in the U.S. Court System,” China National Planning Commission Price Appraising Center, San Francisco, California, February 2001
• “Valuation of Nuclear Power Plants,” Center for Business Intelligence, Chicago, Illinois, September 2000
• “Downstream Valuation Issues,” WSPA Property Tax Educational Forum, Oxnard, California, September 2000
• “The Discount Rate,” Appraisal of Refineries and Petrochemical Facilities for Ad Valorem Taxation, Real Estate Center, Texas A&M University, San Antonio, Texas, March 2000
• “Refinery Valuation Issues - Sales and Economic Obsolescence,” WSPA Property Tax Educational Forum, Tempe, Arizona, September 1999
• “Sales Comparison Approach for Refining and Petrochemical Facilities,” Refining, Petrochemical, and Gas Processing Plant Appraisal for Ad Valorem Taxation, Real Estate Center, Texas A&M University, Houston, Texas, November 1998
• “Building the Right Team to Achieve Equitable Results - The Appraiser’s Perspective,” IPT Annual Conference, Sparks, Nevada, June 1998
• “The Use of the Internet as a Valuation Tool,” ASA Wisconsin Chapter Seminar, Milwaukee, Wisconsin, May 1998
• “The Refining Industry:  The Second Half of the Decade of the 1990s,” WSPA Property Tax Educational Forum, Tempe, Arizona, September 1997
• “Common Mistakes Made in Refinery Valuation,” API Property Tax Forum, Austin, Texas, November 1996
• “Income Approach to Value for Refining and Petrochemical Facilities,” Refining, Petrochemical, and Gas Processing Plant Appraisal for Ad Valorem Taxation, Real Estate Center, Texas A&M University, San Antonio, Texas, November 1996
• “Cost Approach to Value for Refining and Petrochemical Facilities,” Refining, Petrochemical, and Gas Processing Plant Appraisal for Ad Valorem Taxation, Real Estate Center, Texas A&M University, San Antonio, Texas, November 1996
• “The Internet:  Tool or Toy?,” WSPA Property Tax Educational Forum, Tempe, Arizona, September 1996
• “Fair Market Value in Continued Use vs. in Exchange,” IPT/ABA Joint Tax Seminar, New Orleans, Louisiana, March 1996
• “Appraisal Profession Online,” ASA Wisconsin Chapter Seminar, Milwaukee, Wisconsin, March 1996
• “Oil Refinery Valuation Issues,” WSPA Property Tax Educational Forum, Tempe, Arizona, September 1995
• “Valuation of Inventory,” IPT Houston Luncheon, Houston, Texas, August 1995
• “Oil and Gas Valuation,” API Federal Tax Forum, Houston, Texas, April 1995
• “Taxation and Valuation of Software and Related Issues,” IPT Property Tax Symposium, San Antonio, Texas, November 1994
• “Valuation:  What Judges and Lawyers Need to Know (Panel Member),” Judges, Attorneys, and Appraisers from Wisconsin, Milwaukee, Wisconsin, October 1994
• “An Investigation of Oil Refinery Sales,” WSPA, State of California State and County Officials, Los Angeles, California, September 1994
• “Valuation of an Oil Refinery,” WSPA Property Tax Educational Forum, Tempe, Arizona, September 1994
• “Valuation of a Greyhound Racetrack,” Dairyland Greyhound Park, Kenosha, Wisconsin, October 1993
• “Managing Your Property Tax Responsibilities for Personal Property,” Texas Society of CPAs, Houston, Texas,  February 1993
• “Managing Your Property Tax Responsibilities,” University of Wisconsin, Milwaukee, Wisconsin, February 1993
• “Current Valuation Issues in the Process Industry Resulting from Environmental Problems,” API Property Tax Forum, Tarpon Springs, Florida, December 1992
• “Technical Valuation,” ASA International Conference, New Orleans, Louisiana, June 1992
• “Managing Your Property Responsibilities,” ARCO Property Tax Group, Dallas, Texas, December 1990
• “Managing Your Property Tax Responsibilities for Personal Property,” TEI Monthly Meeting, Milwaukee, Wisconsin, May 1990
• “Vineyard, Winery, and Distillery Appraisals,” ASA Wisconsin Chapter Meeting, Milwaukee, Wisconsin, March 1990
• “Managing Your Property Tax Responsibilities,” University of Wisconsin, Milwaukee, Wisconsin, February 1990
• “Restructuring the Oil Refining Industry,” IPT Property Tax Symposium, Tulsa, Oklahoma, November 1989
• “Market-Derived Depreciation and Obsolescence,” ASA International Conference, St. Louis, Missouri, June 1989
• “Ad Valorem Appraisals for Special-Purpose Properties,” Texas Property Representatives, Houston, Texas, May 1989
• “Managing Your Property Tax Responsibilities,” TEI Monthly Meeting, Orlando, Florida, April 1989
• “Valuation of Railroad Property for Property Taxes,” National Assoc. of Railroad Property Tax Representatives, San Diego, California, October 1988
• “What's It Worth?,” TIMES Annual Conference, San Francisco, California, July 1988
• “Managing Your Property Taxes,” TIMES Annual Conference, San Francisco, California, July 1988
• “Effect of the New Tax Law on Property,” TEI Monthly Meeting, New York, New York, January 1988
• “Statistical Analysis of Market-Derived Valuation Graphs for Real and Personal Property,” IPT Annual Conference, Las Vegas, Nevada, June 1987

Publications

• “Functional Obsolescence: Real Life Stories,” Machinery & Technical Specialties Journal, Volume 26 Issue 4/Volume 27, Issues1 (Spring 2011)
• “Fair Market Value in Continued Use,” Journal of Business Valuation, 2010 Volume 2.
• “Economic Obsolescence: Real Life Stories,” Machinery & Technical Specialties Journal, Volume 26, Issues 2 and 3 (Spring 2010)
• “Personal Property Tax Appeals/Valuation,” Machinery & Technical Specialties Journal, Volume 25, Issues 2 and 3 (Spring 2009)
• “Fair Market Value in Continued Use,” Machinery & Technical Specialties Journal, Volume 25, Issues 2 and 3 (Spring 2009)
• “Electrical Generating Plant Valuation,”  Machinery & Technical Specialties Journal, Volume 24, Issue 4/Volume 25, Issue 1 (Fall 2008)
• “The Complete Cost Approach and the Order of Deductions,” Machinery & Technical Specialties Journal, Volume 24, Issues 2 and 3 (Summer 2008)
• “Technical Real Property Issues and Property Taxation:  Heavy Manufacturing, Utilities and Process Industries,” Machinery & Technical Specialties Journal, Volume 23, Issue 4/Volume 24, Issue 1 (Spring 2008)
• “What Makes a Business a Going Concern?,” New Jersey Newsletter, published by Financial Executives International (February 2008)
• “Environmental Remediation and its Effect on the Value of Industrial Properties,” New Jersey Newsletter, published by Financial Executives International (November 2007)
• “Environmental Remediation and its Effect on the Value of Oil and Gas Properties,” The Journal of Business Valuation, published by The Canadian Institute of Chartered Business Valuators (2007)
• Valuing Machinery and Equipment:  The Fundamentals of Appraising Machinery and Technical Assets, Second Edition, contributing author, published by the Machinery & Technical Specialties Committee of the American Society of Appraisers, Washington, DC (2005)
• “Valuation of a Nuclear Power Generating Facility,” Machinery & Technical Specialties Journal, Volume 20, Number 4 (2003-2004 Fiscal Year)
• “Preparing for a Nuclear Exchange,” Public Utilities Fortnightly (May 2004)
• “Intangible Assets:  What Makes a Business a Going Concern,” Machinery & Technical Specialties Journal, Volume 19, Number 1 (Spring 2003)
• “Measurement and Quantification of Obsolescence: Economic Obsolescence,” New Zealand Property Journal (November 2002)
• “Identifying and Quantifying Economic Obsolescence,” The Journal of Property Tax Assessment & Administration, published by the International Property Tax Institute, Volume 6, Issue 4 (2002)
• “The Quantification of Economic Obsolescence,” Journal of Property Valuation and Taxation, Volume 13, Number 2 (Fall 2001)
• “Appraising an Oil Refinery in the 21st Century,” Machinery & Technical Specialties Journal, Volume 17, Number 4 (2000-2001 Fiscal Year)
• Valuing Machinery and Equipment:  The Fundamentals of Appraising Machinery & Technical Assets, contributing author, published by the Machinery & Technical Specialties Committee of the American Society of Appraisers, Washington, DC, 2000
• “Economic Obsolescence,” Machinery & Technical Specialties Journal, Volume 16, Number 1 (Spring 2000)
• “The Discount Rate,” Machinery & Technical Specialties Journal, Volume 14, Number 4 (Spring 1998)
• “The U.S. Refining Industry - The Last Half of the Decade of the 1990s,” Machinery & Technical Specialties Journal, Volume 14, Number 3 (Winter 1997)
• “Economic Forces Push Down Selling Prices of U.S. Refineries,” Oil & Gas Journal, Volume 94, Number 13 (March 25, 1996)
• “Indexes,” A Four-Part Series, Machinery & Technical Specialties Journal, Volume 12, Numbers 1-3, (Summer, Fall, and Winter 1995), and Volume 13, Number 1 (Summer 1996)
• “How to Achieve an Equitable Assessment,” Journal of Property Management, Volume 58, Number 2 (March/April 1993)
• “Discounted Cash Flow: Does the Value Reflect Only Fixed Assets?,” Journal of Property Tax Management, Volume 1, Number 4 (1990)
• “Appraisal of a Hydroelectric Facility,” E. H. Boeckh, Real Estate Valuation Guide, Volume 17, Issue 192 (1987)
• “Truck Terminal Valuation,” A Two-Part Series, Terminal Operator, December 1981 and January 1982