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Board upholds assessed value on Hawthorne Meadows apartment complex
Summary
The Bannock County Board of Equalization declined to lower the assessed value of parcel RPRCRWS000201 (Hawthorne Meadows), concluding comparables and rent data did not justify a reduction.
The Bannock County Board of Equalization voted to uphold the assessed value of parcel RPRCRWS000201, the Hawthorne Meadows apartment complex on Hawthorne Road, after reviewing comparables and rent information presented by the appellant.
Assessor staff told the board that comparables for the property had fewer amenities and that, after reviewing the appellant’s materials (including rents), staff could not find evidence to justify a lower assessment. The assessor recommended the board uphold the assessed value.
Board members asked clarifying questions about which complexes were used as comparables. The assessor said Hawthorne Meadows compared to the Via Apartments and Northgate in amenities, but due to age and depreciation the assessor valued it more closely to properties with fewer amenities.
After brief discussion the board voted to uphold the assessor’s valuation. The record shows the decision was based on the assessor’s analysis of comparables and rental information; the appellant’s request to lower the value was not granted.
