Department of Revenue v. Transamerica Title Insurance

OPINION

HOWARD, Chief Judge.

This is an appeal by the State of Arizona and Pima County from a judgment which reduced the assessed valuation of the Plaza International Hotel and the Howard Johnson’s Motor Lodge. Appellants present the following questions:

“I. Did the trial court err in relying only on the income approach to value to overcome the Assessor’s presumption of correctness, to show an excessive valuation and to determine the full cash value of the hotel-motel?

II. Did the trial court err in admitting evidence which was not in existence on the assessment date, January 1, 1975?”

The record…