[DOWNLOAD] "State Wisconsin Ex Rel. Flint Building" by Court of Appeals of Wisconsin " eBook PDF Kindle ePub Free

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eBook details

• Title: State Wisconsin Ex Rel. Flint Building
• Author : Court of Appeals of Wisconsin
• Release Date : January 21, 1985
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 63 KB

Description

This case involves the assessment of real property for tax purposes. The issue before us is whether a board of review created pursuant to sec. 70.46 or 70.99, Stats., is required to make an adjustment for various financing arrangements (cash equivalency adjustment) when analyzing sales of comparable properties for tax assessment purposes. We certified this issue to the Wisconsin Supreme Court for review and determination. Our certification request was denied. We now hold that when considering objections to valuations, a board of review is required to consider the effect of a cash equivalency adjustment on the sale price of comparable properties in determining full value under sec. 70.32, Stats. Because we conclude the board of review's refusal to consider the cash equivalency adjustment was an error resulting in a void assessment, we reverse. The Flint Building Company (Flint) is the taxpayer in this case. It appeals the decision of the Kenosha County Board of Review 1 which upheld the Kenosha county assessor's 1981 property tax assessment of its 399-unit apartment complex known as Wood Creek Apartments. Flint contends the property is overassessed by an amount of $2,315,900.

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