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Owner and county differ on Holiday Inn value after 2023 appraisal
Summary
An owner appraisal lists the Holiday Inn near Worlds of Fun at $14.3 million while county records show $5.9 million; county staff asked that any change be pursued at the State Tax Commission and requested the appraisal as evidence.
An assessment hearing on the Holiday Inn near Worlds of Fun centered on a large gap between a recent appraisal and the county’s valuation. The owner supplied income and expense statements and an appraisal dated Aug. 1, 2023, that lists the property at $14,300,000; the county’s current assessed value is $5,900,000.
Why it matters: A difference of this size affects the owner’s tax liability significantly and, if sustained, could alter precedent for similar hotel valuations in the county.
At the hearing the property’s representative said the appellant provided financial statements for 2022–24 and used those to calculate a value of $2,662,500 after…
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