Padre Resort, Inc. v. Jefferson County Board of Equalization

Opinion by

Judge DAVIDSON.

In this property tax review, the Jefferson County Assessor's 1999 valuation of hotel property of petitioner, Padre Resort, Inc., was based primarily on the income approach and an occupancy rate of 75% to arrive at a property value of $6,010,800. Petitioner challenged the assessor's valuation before respondent, Jefferson County Board of Equalization (BOE), which affirmed the assessor's determination.

Petitioner then appealed to the Board of Assessment Appeals (BAA), which conducted a de novo hearing and, basing its calculation on an occupancy rate of 70%, reduced the…