Opinion ID: 4501249
Heading Depth: 1
Heading Rank: 1

Heading: introduction

Text: This review proceeding addresses the taxable valuation of commercial real estate used as an ethanol plant. The taxpayer unsuccessfully protested the county’s $16.3 million valuation—a valuation based upon mass appraisal techniques—and then appealed to the Tax Equalization and Review Commission (TERC), which reduced the value to $7.3 million based upon the taxpayer’s appraisal. Here, because the county’s valuation relied upon admittedly incorrect information and lacked evidentiary support regarding applicable depreciation, the evidence showed more than a mere difference of opinion. Finding no error appearing on the record, we affirm TERC’s ruling. But our decision should not be read to categorically reject mass appraisal as a proper valuation methodology for an ethanol plant.