St. Bernard Self-Storage, L.L.C. v. Hamilton County Board of Revision

{¶ 1} In this case, the parties agree that the arm’s-length, negotiated purchase of a self-storage facility is the basis for measuring the value of the real property for the 2002 tax year. They disagree on whether the allocation in the purchase contract of approximately half the purchase price to the goodwill of an associated business should be subtracted from the price to yield the value of the real estate. The appellant, St. Bernard Self-Storage, L.L.C. (“St. Bernard”), asserts that the contractual allocation to goodwill reflects a business value that must be separated from the realty. The…