Property:
Tennessee: Administrative Judge Lowers Real Property Valuation Due to Pandemic Related Economic Downturn
APD Case No. 53.02-232874J, Tenn. Bd. of Eq., Admin. Procedures Div. (10/10/23). Regarding certain real property improved with a department store, an administrative judge with the Tennessee Board of Equalization’s Administrative Procedures Division held that the taxpayer successfully showed by a preponderance of the evidence that the 2021 tax year valuation of the subject property should be partially reduced from the value adopted by the local board due to, among other reasons, the pandemic related economic downturn – commenting that “the economic conditions of 2021 were unprecedented.” Please contact us with any questions.
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