Mola Development Corp. v. Orange County Assessment Appeals Board No. 2

Opinion

SILLS, P. J.

I. Introduction

The question before us is whether the assessment appeals board erred in its methodology in valuing certain contaminated commercial real property in Irvine in the early 1990’s. The board took what it determined to be the fair market value of the property if unpolluted, then deducted the cost of cleanup, but next added back in expected contributions toward the cleanup from two former owners. The taxpayer then successfully petitioned the trial court for an order mandating the board to subtract the amount that it had added back in, and the board has now appealed…