Landowner filed a complaint challenging the valuation of retail property.
The county board of revision determined that the property should be valued according to the sale price. Landowner appealed. The Board of Tax Appeals accepted the board’s
valuation. City schools board of education appealed.
The Supreme Court of Ohio held that the record supported finding that amount for which property sold was its value for taxation purposes.
Record supported Board of Tax Appeals’ (BTA) finding that sale of property was recent and at arm’s length, and that, therefore, amount for which it sold was its value for taxation purposes, despite evidence that landowner spent considerable funds improving the property between the date of the sale and the tax-lien date and that landowner advocated for a higher valuation; school board conceded that property sold for claimed amount, landowner’s employee testified as to amount of sale, and school board did not produce evidence rebutting the recency of the sale.