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Board leaves Milton 'old Pizza Hut' property appraisal at $363,300 after owner’s appeal
Summary
The Cabell County Board of Assessment Appeals unanimously declined to lower the appraised value of 323 East Main Street in Milton (the former Pizza Hut), keeping the assessment at $363,300 after the owner cited a $180,000 purchase price, flood-plain location and an environmental report.
The Cabell County Board of Assessment Appeals voted unanimously Oct. 20 to leave the appraised value of a Milton commercial property at $363,300 after a challenge from the property owner.
Ron Flora, attorney for property owner Robert L. Fannin, told the board that Fannin purchased the site at 323 East Main Street (the former Pizza Hut property) for $180,000 and believed that purchase price reflected fair market value. Flora said his client had tried but was unable to obtain a formal appraisal before the hearing and asked the board to consider the purchase price and any relevant condition information.
Irv Johnson, Cabell County Assessor, said West Virginia State Code places the burden of proof on the taxpayer and noted that the packet sent to Fannin had been returned incomplete. Fannin said the land is in a flood plain and referenced an environmental study that identified potential environmental problems. The board said it would notify Fannin by mail of its decision.
Commissioner Nancy Cartmill moved to leave the appraised value at $363,300; Commissioner Robert L. Bailey seconded the motion. The vote was unanimous. The meeting adjourned sine die at 11:08 a.m.
