I.C.M. Realty v. Woodward

SCHLEGEL, Judge.

Plaintiffs appeal the district court order upholding the Polk County Assessor’s valuation of the property in question and dismissing their petitions. Plaintiffs claim: 1) the fair market value of the assessed property must be calculated subject to existing leases; 2) the burden of proof shifted to the Board of Review and the Board failed to sustain its burden; and 3) the district court erred in calculating the fair market value of the assessed property without considering the existing leases.

An appeal of the board’s decision to the district court is heard in equity and issues…