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Okanogan BOE lowers assessed values for Wanaka/Sun Cove resort parcels after owner and assessor debate income approach
Summary
After a day-long hearing, the Okanogan County Board of Equalization reduced assessor valuations on five parcels tied to the resort known in the record as Sun Cove/Wanaka Lake Resort, citing the board's evaluation of income evidence and property characteristics.
The Okanogan County Board of Equalization on Sept. 25 lowered the assessor's valuations for five parcels tied to the resort identified in filings as Sun Cove Resort (also referred to by county staff as Wanaka Lake Resort), after hearing testimony from the property owner and the assessor's appraiser.
The board said the assessor's income analysis and some recorded property characteristics did not justify the assessor's higher values and adopted lower values calculated by the board using the evidence introduced at the hearing.
Owner and petitioner Kareem Dares told the board he and his wife bought the business "as a passion project" and that operating income this season and…
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