F. X. Shea

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

The Board determined that the income approach was the most reliable method for valuing the property.

After reviewing expert evidence from the appellant, MPAC, and the municipality, the Board preferred the appellant's income approach analysis, subject to a minor adjustment to the capitalization rate.

The Board reduced the current value assessment to $58,668,000 and found no basis to apply an equity reduction.

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.