Ohio Court of Appeals Finds Taxpayers’ Income Approach to Value Government-Subsidized, Low-Income Housing Complex Correct

Sept. 21, 2021, 5:00 AM

The Ohio Court of Appeals Sept. 17 affirmed the Hamilton County Board of Revision’s (BOR) property tax valuation of a government-subsidized, low-income multifamily housing complex. An auditor valued the property. Taxpayers sought a reduction, using the property’s actual rents and expenses under the income approach, which the BOR granted. Taxpayers sought a further reduction. The Hamilton County Court of Common Pleas found Taxpayers’ income-approach methodology incorrect and reinstated the auditor’s valuation. Taxpayers appealed. A school board argued Taxpayers should have used market rents and expenses for valuation. The appeals court noted: 1) taxpayers can use actual rents where actual rents ...

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