Lancaster County Board of Equalization v. Condev West, Inc.

Sievers, Judge.

INTRODUCTION

The Lancaster County Board of Equalization (Board) appeals the order of the Nebraska Tax Equalization and Review Commission (Commission) which reversed the Board’s $10.2 million valuation for property tax purposes of the Dillard’s department store in Lincoln’s Gateway Shopping Center.

BACKGROUND

Condev West, Inc. (Condev), owns commercial real property located in the city of Lincoln, Lancaster County, Nebraska. This property, Dillard’s, was purchased by Condev in May 1994 for $6 million. The property was subsequently renovated at a cost of $5.2 million. For the 1996…