Worthington City Schools Board of Education v. Franklin County Board of Revision

The Supreme Court held that the valuation of a parcel of land with a supermarket owned by the Kroger Company by the Franklin County Board of Revision (BOR) of $2,390,000 conformed to Ohio Rev. Code 5713.03, and the Board of Tax Appeals (BTA) erred in determining otherwise.The BOR reached its determination by relying on Kroger’s appraiser’s valuation of the property, which was primarily based on using the sale prices of comparable retail properties and then making adjustments to reflect the unique characteristics of the Kroger property. The BTA, however, concluded that Kroger’s appraiser’s adjustment accounting for the fact that Kroger did not have parking lot on its parcel improperly removed from the parcel’s value the benefit of Kroger’s parking easement that allowed its patrons to park on adjacent property. The Supreme Court reversed, holding that the BTA erred by treating the appraiser’s adjustment as subtracting the value of Kroger’s parking easement. Rather, the appraiser evaluated the site as if it included the associated parking area and then determined the true value of the fee simple estate, as required by section 5713.03. View "Worthington City Schools Board of Education v. Franklin County Board of Revision" on Justia Law