Minnesota Tax Court Reduces Walmart Supercenter Property Tax Valuation by Nearly $4 Million

The Minnesota Tax Court reduced the property tax assessed value of a Walmart Supercenter in Brooklyn Park from $11.8 million to $7.9 million. The taxpayer challenged the county’s valuation, offering an appraisal valuing the property at $7.9 million. The county offered only a review appraisal without an independent value conclusion. The Tax Court found that the taxpayer’s expert appraiser rebutted the county valuation’s prima facial validity and adopted the taxpayer’s appraisal, finding it generally credible with no fault in the weighting and final reconciliation of the different indications of value. [Walmart, Inc. (#1864) v. Cty. of Hennepin, Minn. T.C., No. ...