In Re Appeal of Winston-Salem Joint Venture

HUNTER, Judge.

Taxpayer-appellant Winston-Salem Joint Venture (herein “Taxpayer”) appeals the final decision of the North Carolina Property Tax Commission (“the Commission”) modifying the Forsyth County Board of Equalization and Review’s (“the Board”) decision as to the value of Taxpayer’s commercial property (referred to herein as “Hanes Mall”), and finding its appraised value to be $140,000,000. Taxpayer argues the Commission erred: (1) by failing to apply or properly consider the cost approach method in appraising Hanes Mall, and; (2) by adopting the County’s expert appraiser’s assessment…