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Home / Opinion Digests / Real Estate – Tax Assessment – Warehouse Into Apartment (access required)

Real Estate – Tax Assessment – Warehouse Into Apartment (access required)

The city’s tax assessment of a renovated warehouse converted to a residential apartment complex is not legally erroneous for the tax years 2005 through 2007, and the Richmond Circuit Court denies the taxpayer’s petition for correction of an erroneous assessment. The city, after rejecting the income approach and using a sales comparison approach and an income ...

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