Oberstein v. Adair County Board of Review

CARTER, Judge.

Defendants, Board of Review and its members, appeal from district court’s review and reduction of their tax assessment against plaintiffs’ property. They assert 1) that district court erred in determining the property’s fair market value pursuant to section 441.21, The Code 1979, by making an adjustment for the negative effect of a long term lease on the property which allegedly was returning less than the current economic rental value; and 2) that plaintiffs did not establish they were entitled to relief from the assessment. We reverse district court’s order and confirm the…