1,721,021 research outputs found
La stima delle aree fabbricabili a fini IMU. Proposte per il superamento dei limiti nelle procedure messe a punto dai comuni.
No full textTra le imposte locali l’Imposta Municipale Unica (IMU), già ICI, è quella che garantisce il gettito maggiore ai Comuni. Nel caso delle aree fabbricabili la base imponibile dell’IMU è costituita dal valore venale al 1° gennaio dell’anno di imposizione. Col D.Lgs 446/1997 è stata concessa ai Comuni la potestà di stabilire, periodicamente e per zone omogenee, i valori venali in comune commercio delle aree fabbricabili. I procedimenti di stima messi a punto dai comuni, però, in molti casi portano a valori di scarsa o alcuna coerenza col valore venale, con ovvi effetti sull’equità dell’applicazione dell’imposta. Al fine di sistematizzare la materia, nel presente lavoro sono raccolti, per un gruppo di Comuni, i regolamenti per il calcolo della base imponibile IMU e le annesse
relazioni di stima del valore di mercato delle aree fabbricabili. Dei procedimenti di stima che risultano dai materiali reperiti, è verificata la coerenza con i principi dell’Estimo e con la normativa sulla determinazione del valore venale delle aree fabbricabili ai fini dell’IMU e sono delineati i limiti. E’ poi definito un procedimento
di stima del valore delle aree fabbricabili formalmente coerente con la vigente normativa e con la metodologia estimativa. Il procedimento, di tipo indiretto, si basa sul valore di trasformazione. Non fornisce una stima puntuale, relativa a beni specificamente individuati, ma, come è prescritto dal D.lgs n.504/92, produce valori medi di mercato delle aree edificabili distinti per zone territoriali omogenee, per destinazione d’uso e per indici di edificabilità
Influenza del regime impositivo attuale sulla domanda di immobili urbani per investimento
No full textCompanies in liquidation A model for the assessment of the value of used machinery
No full textThe current economic crisis is creating serious global effects on the real economy, especially in terms of solvency and economic stability of many companies, forced to interrupt their activities and to initiate bankruptcy proceedings. In this case, the assessment of the value of the industrial machinery that can be reused is a problem that often arises. In the literature different approaches to estimate plant and industrial machinery are illustrated. Each method includes several specification and, in practice, only in exceptional cases, there are consistent data for comparison. The major problem consists in the identification and the valuation of the level of depreciation which intervenes in the definition of the value of used industrial machinery. In the present work an algorithm to determine in a rational manner the depreciation of used industrial machinery has developed. The procedure has its theoretical basis in the analysis of formal deductions of the value of new machinery. The model defined in this research considers the factors that contribute to decrease the original value of the machinery. Empirical formulas have been developed to estimate the market value of used industrial machinery on the basis of quantitative and qualitative analysis of depreciation functions. The interpretation and schematization of the results have led to the definition of value-time curves for the three main depreciation factors (age, income decay, obsolescence). The result is a flexible model for the evaluation of different types of machinery and a simply procedure, with a reduced number of variables to be taken into consideration. The paper must be attributed in equal parts to the three authors
Multi-criteria Spatial Analysis for the Localization of Production Structures. Analytic Hierarchy Process and Geographical Information System in the Case of Expanding an Industrial Area
Get PDFAmong the numerous economic evaluation techniques currently available, multi-criteria spatial analysis lends itself to solving localization problems of property complexes and, in particular, production plants. The methodology involves the use of Geographical Information Systems (GIS) and the mapping overlay technique, which overlaps the different information layers of a territory in order
to obtain an overview of the parameters that characterize it. This first phase is used to detect possible settlement surfaces of a new agglomeration, subsequently selected through Analytic Hierarchy Process (AHP), so as to choose the best alternative. The result ensures the synthesis of a multidimensional profile that
expresses both the quantitative and qualitative effects. Each criterion can be given a different weight
An application of Real Option Analysis for the assessment of operative flexibility in the urban redevelopment
No full textThe high variability of market prices and the uncertainty that, even in restrained timeframes, is characterizing the general economic situation, have led real estate operators to a prudent attitude, who tend to postpone or at least stagger the start of the initiatives on hold of more stable conditions. In this context it is appropriate to use evaluation tools enable to enhance the investment capacity to be adapted to possible changes of the conditions initially hypothesized. In the present research Real Options Analysis (ROA) is applied to the evaluation of an investment in urban redevelopment of a former industrial complex. The result obtained shows the efficacy of the instrument. Assuming that the entrepreneur considers affordable the implementation of the initiative if the outcome of the discounted cash flow analysis is at least equal to a threshold value calculated as a percentage of revenues, the application of ROA returns an extended NPV that meets this constraint, whereas the use of traditional NPV suggest to abandon the project idea. The binomial approach used also allows to accurately monitor the project's development, correlating it to the evolution of the market
Sull’analisi finanziaria di Ellwood, un modello che razionalizza la stima del saggio di capitalizzazione
No full textIn this paper is developed a procedure to select the appropriate capitalization rate across the financial analysis of an investment based on the real estate of which we are willing to evaluate the market value. The proposed model rationalizes the corrections as well as the adaptations needed by the alternative reference rate, reducing number of input variables in the well known Ellwood model. Its application is simplified by implementation of the algorithm in a software able to reproduce the appraisal of urban properties through out income approach
Economic relationships between selling and rental prices in the Italian housing market
No full textIn this paper the relationship between price and
rent dynamics in the Italian housing market is studied. The aim is
reached through the implementation of a multivariate
autoregressive model (VAR), that makes it possible to explain the
interdependencies of multiple time series. The analysis considers
a series of macroeconomic variables in the model that in the
deductive interpretation of the phenomenon and on the basis of
other experiences in current literature, were evaluated as
potential keys to understanding the relationship between prices
and rents. The variables selected, along with residential realestate
prices and real residential rents, were: the real short term
interest rate, the time series of the annual differences between the
actual and the expected Gross Domestic Product, real
investments in housing. The data series cover the period from
1980 to 2008. The results obtained show some peculiarities of the
Italian real estate market
A model to support decision for the valorization of public properties in disuse or underutilized
No full textWith reference to the process of valorization of public properties in progress in many European
countries, this paper develops an evaluation model to support decisions of Public Administrations involved in
the identification of the best modality of enhancement (concession and lease or sale) of public properties in
disuse and/or underutilized. Although the model can be applied to any type of public property, the research is
focused on religious cultural buildings, that are common both in big cities and in smaller towns. The
assumption underlying the model is that, since the properties considered are complex buildings, generally
characterized by large dimensions, the form of bilateral monopoly market is always verified. The result is a
model of simple use, exportable in any territorial context. The paper must be attributed in equal parts to the
author
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