Significantly different values of 30-year old retail properties were derived by county and taxpayer appraisers, whose reliance on the income approach to valuation was primary and exclusive, respectively. Of primary importance was the appraisers' divergent income approach analyses of key factors in view of property age, recent extensive renovations, and two separate locations. Each appraiser's different treatment from the other's of these key factors yielded radically different valuation conclusions:
The court found the market value to be higher than that determined by either appraiser.
Lexis.com subscribers can view the enhanced version of Eden Prairie Mall Llc v. County of Hennepin.
Non-subscribers can access Federal Case Law, Codes, Shepard’s®, Citations, Administrative, Legislative, and Secondary Sources using lexisONE's Research Value Package.