Property assessment reduced to $1,378,000; MPAC's requested classification change denied for lack of notice.
The appellant appealed the property assessment of an industrial plaza for the 2013 taxation year.
MPAC recommended a reduced value of $1,378,000 based on the income approach, but also sought to change the property's tax classification.
The appellant argued for a lower value of $1,089,000 and objected to the classification change due to lack of notice under Rule 30.
The Assessment Review Board accepted MPAC's valuation of $1,378,000, finding its rental evidence more reliable.
However, the Board agreed with the appellant that MPAC failed to provide the required 50 days' notice for the classification change, and ordered the classification to remain as originally returned.
The decision was deemed to apply to the 2014 and 2015 taxation years.