Villa Park Ltd. v. Clark County Board of Revision

From our review of the record, the decision of the BTA is unreasonable and unlawful. The decision is vacated and the cause is remanded for further consideration.

The BTA found, and neither party disputes, that the best method of valuing subsidized apartments is the income approach.

The second paragraph of the syllabus of Alliance Towers, Ltd. v. Stark Cty. Bd. of Revision (1988), 37 Ohio St.3d 16, 523 N.E.2d 826, one of the three leading cases involving valuation of subsidized apartments, states:

“An apartment property built and operated under the auspices of the Department of Housing and Urban…