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Board upholds apartment classification and assessed values for 140 S Main Street
Summary
LND 2000 LLC challenged interim increases in land and building assessments and reclassification to apartment land and apartment usage; the Board kept apartment classifications and set a combined assessed value of $435,050.
Representatives for LND 2000 LLC (Mr. Jim McMahon and Attorney Amy Blume) disputed interim changes in land and building assessments at 140 S Main Street, where land assessment rose from $70,700 to $158,620 and building assessment rose from $276,430 to $316,540. The Assessor’s reclassification had changed the land to apartment land and the building to apartment usage.
After deliberation, Mr. Noble moved to retain the apartment land classification with an assessed value of $158,620 and apartment building classification with an assessed value of $276,430, for a total assessed value of $435,050. Ms. Holmes seconded; the motion passed 3-0 and the appeal was approved as recorded in the minutes.
