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Recent sale challenged as evidence in Bingham Center appeal; board confirms county valuation
Summary
Taxpayer urged the board to accept a Jan. 26 sale of the Bingham Center for $16.75M as controlling evidence; county staff disputed that post–Jan.1 parcel changes and inter-parcel swaps made the sale inapplicable and the board unanimously confirmed the county value (~$35.04M).
Sean Radon, appearing for the taxpayer, told the board the Bingham Center in Clarendon sold on Jan. 26 for $16,750,000 and urged the board to adopt that sale price as the best evidence of fair market value for the assembled economic unit.
"The Bingham Center sold January 26 for 16,750,000 in a bonafide transaction between a willing buyer and a willing seller," Radon said, and cited a November 2024 letter of intent and the closing statement to show the consistent purchase price.
County witnesses said the transaction trail is complicated: parcels were reconfigured and some parcels recorded or swapped after Jan. 1, and county staff said some of the recorded transfers and gift deeds raise questions about whether the single closing price reflects the same assemblage that existed on the statutory Jan. 1 valuation date. The county recommended confirmation of its valuation, $35,040,900, so that assessments remain consistent with how the jurisdiction values site plans and approved density.
After discussion about timing of recordings, swaps and whether all parcels were in the assemblage on Jan. 1, the board voted unanimously to confirm the county’s assessment.
Why it matters: The case highlights how the Jan. 1 statutory valuation date and subsequent parcel reconfigurations can determine whether a recent sale is admissible as controlling evidence of fair market value.
