Property Tax True Cash Value Determination Supported by the Evidence
In New Michigan, L.P. v. City of Roosevelt Park, Michigan Court of Appeals, No. 294174, February 10, 2011 the Michigan Tax Tribunal's determination of the true cash value, state equalized value, and taxable value of a taxpayer's apartment complex for the local property tax years at issue was supported by competent, material, and substantial evidence on the whole record. The tribunal's opinion indicated that it considered evidence affecting the weight and reliability of the city's valuation evidence, while at the same time giving effect to the taxpayer's burden of proof. Contrary to what the taxpayer asserted in this appeal, the tribunal did not simply adopt the city's proposed valuation. It was only after the tribunal found the taxpayer's evidence too unreliable for it to apply the income-capitalization approach or the sales-comparison approach, and after the tribunal evaluated the accuracy of the city's proposed cost approach, that the tribunal accepted the true cash value contained in the property tax records. This was a common and acceptable practice of the tribunal. Accordingly, the tribunal satisfied its duty to make an independent determination of true cash value.