Tax Court Visits Indiana Law March 17
- 3:30-4:30, Moot Court Room: argument
- 4:30-5:30, Moot Court Room: court will meet with Prof. Steve Paul's class
Case Synopsis:
Meijer Store v. Wayne County Assessor
This case addresses how to properly value the Meijer store in Richmond, Indiana for property tax purposes. Local assessing officials provided evidence that they complied with all applicable rules in developing the assessment. The taxpayer provided evidence, in the form of a professional appraisal, of how much the property would sell for if it were put on the market today. The administrative agency adjudicating the appeal adopted neither party's approach, accepting only a portion of Meijer's appraisal evidence. The agency concluded that the current comperable sale price was not the appropriate measure of value because the property is not currently on the market. The agency accepted the portion of the appraisal showing the property's depreciated value but rejected the portion of the appraisal further decreasing the value to reflect the market for empty "big box" stores. The Tax Court must determine whether the assessor's approach, the taxpayer's approach, or the agency's approach is correct.