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Board trims values on two Interstate Crossing Development parcels after owner appeals
Summary
After hearing appeals from an Interstate Crossing Development representative and broker testimony, the County Board reduced the assessed values on two commercial lots in Sioux Falls’ Solberg/Interstate Crossing Business Park from assessor levels: one lot was set at $9 per square foot and another was confirmed at a city-board-lowered figure.
Lincoln County’s Board of Equalization reviewed multiple appeals from Interstate Crossing Development Corporation over two adjacent commercial lots in the Solberg / Interstate Crossing Business Park and approved adjusted land valuations.
Assessor staff described the county land-pricing schedule applied to the Solberg Business Park: the first acre is priced at a higher rate ($14 per square foot), the second acre at $7 per square foot, and acreage above two acres at $4 per square foot. Applying their schedule produced the county’s recommended assessments. Staff said countywide land review placed the valuation schedule at about 92% of market on the sales pool used.
Commercial broker Dennis Breski, representing the property owners, told the board the tiered-per-acre methodology does not reflect how commercial buyers or brokers price land in the market. He provided multiple competing sales and argued that similar lots in the park and nearby were trading nearer $7.50–$9.50 per square foot; he said some of his client’s lots had been listed at $9.50 or $9.75 but had limited buyer interest.
After discussion, the board made two separate decisions: - Parcel 280.550.020.002: The board set the value at $9 per square foot (motion carried by roll call; final figure $878,922). The assessor had originally assessed at $9.80 per square foot. - Parcel 280.580.030.006: The local board had already lowered the assessment to $615,427. The county board voted to accept that local-board-lowered value.
Votes at a glance: Parcel 280.550.020.002 → motion to value at $9/sq ft → Passed (3–2). Parcel 280.580.030.006 → motion to accept the local board reduction to $615,427 → Passed (roll call recorded).
