Opinion ID: 1913947
Heading Depth: 1
Heading Rank: 7

Heading: Equitable Assessed Value.

Text: We, like the district court, find the 1990 Spring Village assessment is inequitable when compared with the assessment of other shopping centers in the area. The district court found the most lucid testimony concerning the value of Spring Village was that of Fisher. We accept the court's evaluation of the credibility of the witness. Relying primarily on his testimony, the court found the net income of the property as of the date of the assessment to be $394,149 a year. Applying a capitalization rate of 11.795%, the district court found the market value of Spring Village to be $3,341,661.72, which it rounded to $3,342,000. Having considered the record de novo, we find the 1990 assessed value of the subject property, when compared with the assessed value of other shopping centers within the assessment district, is $3,342,000. We affirm the decision of the district court. AFFIRMED.