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Home / Opinion Digests / Va. Cir.: Terminal owner struggles to prove property values (access required)

Va. Cir.: Terminal owner struggles to prove property values (access required)

The owner of a tract of land housing a marine container terminal challenged municipal tax assessments on both real and personal property. Neither party presented credible expert testimony on real property value, and the court rejected the owner’s calculation of “fair market value” for high-tech terminal cranes for which no market currently exists. Background Plaintiff (and Counter-Defendant) ...