Brain Wagner

The appellant appealed the property tax assessments for a large industrial warehouse property for the 2013 to 2016 taxation years.

The Board determined that the income approach was the most reliable method for valuing the property, rejecting the municipality's reliance on the cost approach.

After adjusting the capitalization rate based on comparable sales, the Board reduced the current value assessment to $58,668,000.

The Board found insufficient evidence to warrant a further reduction for equity.