Missouri Tax Commission Affirms Valuation of Commercial Self-Storage Facility

The Missouri State Tax Commission Nov. 8 issued a decision affirming the St. Louis County Board of Equalization’s valuation of $7,416,700 for a commercial self-storage facility owned by taxpayer, a real estate company, as of Jan. 1, 2021. The dispute centered around the appraiser’s failure to comply with a subpoena duces tecum and provide a complete appraisal work file, leading the Commission to exclude the appraiser’s report and find that taxpayer did not produce substantial and persuasive evidence of overvaluation. The Commission determined the true value in money based on the board’s presumptively correct valuation, finding that taxpayer failed to ...