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Tax representative argues movie‑theater market decline justifies lower value for Northland 14
Summary
A tax representative presented income and sales‑based evidence asserting a lower market value for the Northland 14 cinema; county staff relied on a prior board reduction and a cost approach adjustment and said concessions and lease details were incomplete for the income approach.
A tax representative argued that B & B Theatres' Northland 14 should be assessed at about $88 per square foot based on a contracted master lease and weak industry income, while county staff defended the current assessment and said income and lease evidence were incomplete or non‑arms‑length.
Charles Young, manager of state and local tax with Swartz and Associates, testified he used the master lease for the Northland 14 (and two other…
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