Conalco, Inc. v. Monroe County Board of Revision

Lochee, J..

Appellant contends'that, in valuing property which has been sold, within three days of the tax lien date in án arm’s-length transaction, it is unreasonable and unlawful .to ..rely solely on a fair market value, appraisal when the appraiser testifies that he wholly ignored the contemporaneous sale. We agree. .: .. Section 2, Article XII of the Ohio Constitution, and R. C. 5713.01 require real property.to be taxed at its “true value in money.” The best evidence of true value is the actual sale of the property in an arm’s-length transaction. *131State, ex rel. Park Investment Co., v. Bd…