Charleston County Assessor v. University Ventures

JUSTICE KITTREDGE :

**275 In 2006, University Ventures, LLC (the Taxpayer) purchased a vacant lot in Charleston County (the Property). In 2008, the Taxpayer received building permits to construct a hotel and pool on the Property.

Construction began, and the hotel and pool were completed in April 2009, at which time a certificate of occupancy was issued. As a result of the completed improvements and pursuant to law, the Charleston County Assessor (the Assessor) reappraised the Property. The new appraisal resulted in an increase in the value of the Property, which in turn increased the Taxpayer's…