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Ventura County board hears Ross Dress for Less appeal over equipment valuation method
Summary
At a public hearing, Ross Dress for Less asked the Ventura County Assessment Appeals Board to reduce its 2024 personal-property assessments by applying market-derived depreciation schedules (PTRS) that the company says capture economic obsolescence; the assessor's office urged the board to uphold state BOE percent-good tables, calling the PTRS listings unreliable.
At a hearing of the Ventura County Assessment Appeals Board, the retailer Ross Dress for Less asked the board to lower its 2024 personal-property assessment for store equipment by applying market-derived depreciation tables prepared by Property Tax Research Services (PTRS).
The petitioner's representative, Dan Whitelother of Ryan, and appraiser Joshua Flores said the assessor's use of state-issued percent-good tables (AH 581) relies on generalized survival curves and undercounts "economic obsolescence" tied to market demand. "The petitioner's market-derived depreciation schedules . . . quantify economic obsolescence that should be applied to the subject property," Flores told the board, arguing PTRS uses secondary-market price data to capture supply-and-demand effects the state tables miss.
The assessor's representatives disputed that approach. Araceli Baikushev, senior auditor appraiser, said the assessor's office follows the Board of Equalization (BOE) index and percent-good…
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