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Bannock County board upholds assessors value for federal building after income-approach appeal
Summary
The Bannock County Board of Equalization upheld the assessors current assessed value for a federal office building after an appellants tax advisor presented an income-based valuation and the county appraisal office recommended retaining the assessment.
The Bannock County Board of Equalization on Wednesday upheld the county assessors assessed value for a federal office building after hearing competing appraisals.
Greg LeBlanc, a tax advisor representing the property owner, told the board the 43,162-square-foot building built in 1999 is leased by the federal government and currently rents at $25.53 per square foot, triple net. LeBlanc said his income-based valuation, using a 5% vacancy allowance,…
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