Indiana Tax Court affirms removal of Obsolescence Adjustment to Residential Property, as Homeowners fail to show comparable subdivision sales were similar.

Indiana Tax Court affirms removal of Obsolescence Adjustment to Residential Property, as Homeowners fail to show comparable subdivision sales were similar.

Case Name: Marinov and Marinova v. Tippecanoe County Assessor Date Issued: February 20, 2019 Property Type: Single-family residence Assessment Year(s): 2014 Point of Interest: Assessor removed an obsolescence adjustment, causing a 26% assessment increase for a home over its 2013 value. Assessor offered … [Read more...]

California appellate court melts ice cream producer’s external obsolescence claim for a reduction in the assessed value of its personal property

California appellate court melts ice cream producer’s external obsolescence claim for a reduction in the assessed value of its personal property

In Dreyer’s Grand Ice Cream, Inc. v. County of Kern, Cause No. F064154 (July 22, 2013), the California Court of Appeals observed that an external obsolescence adjustment to the assessed value of personal property may be justified when there is excess capacity (or underutilization) that is recognized in the market … [Read more...]