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Valuation Analyses - January 2021CALIFORNIA APPELLATE COURT AFFIRMS REASSESSMENT OF PROPERTY THAT WAS SUBJECT TO A TRANSFER BETWEEN A CORPORATION AND A FAMILY TRUSTA California appellate court has affirmed a trial court decision that upheld the Los Angeles County Assessor’s reassessment of a property, which was subject to a transfer between a corporation and a Trust that owned all of the voting stock in the corporation.
OHIO COURT AND BOARD OF TAX APPEALS DETERMINE EVIDENCE NOT SUFFICIENT TO ADJUST VALUE BASED UPON PURPORTED MEMBERSHIP TRANSFERSIn two unrelated cases, the Cleveland Municipal School District Board of Education “BOE” filed increase cases alleging that an increase was warranted based upon an entity transfer.
INDIANA TAX COURT UPHOLDS BOARD OF REVIEW’S DECISION FINDING THE COST APPROACH TO BE THE BEST INDICATION OF THE PROPERTY'S MARKET VALUE-IN-USEThis case involved the 2014-2017 valuation of a 194,860 square foot “big box” retail store built in 2014. The 2016 assessment was $11,878,900.
WASHINGTON COURT OF APPEALS UPHOLDS CLASSIFICATION OF MACHINERY AND EQUIPMENT AS REAL PROPERTY FIXTURES IN AFFIRMING VALUATION OF MANUFACTURING FACILITYThe Washington Court of Appeals upheld a superior court’s decision affirming the state Board of Tax Appeals (the “BTA”)’s valuation of a manufacturing facility, concluding that the BTA had correctly rejected the property owner’s appraisal and correctly classified the facility’s 18,000 items of machinery and equipment (“M&E”) as fixtures instead of personal property
OTHER VALUATION HEADLINES FROM ACROSS THE COUNTRY (CLICK HERE TO READ MORE) Massachusetts Appeals Court Affirms Tax Board’s Valuation of Cooperative Senior Housing Complex Tennessee State Board of Equalization Grants a $9 Million Value Reduction for a Regional Mall Wisconsin Court of Appeals Denied a Big-Box Retailer’s Request for a Lower Property Value Deadlines Looming in 15 States
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ContactsNicholas M.J. Ray  Andrew E. DeBord Lauren M. Johnson Lindsay Doss Spillman Hilary J. Houston Steven L. Smiseck John R. Conley Megan Savage Knox Anthony L. Ehler David A. Froling Scott J. Ziance Steven R. Rech |
This alert is for general information purposes and should not be regarded as legal advice. As always, please let us know if you want more information or have questions about how these developments apply to your situation. |