Tech One Associates v. Board of Property Assessment, Appeals & Review

OPINION

Justice TODD.

This appeal concerns the validity of a single unified assessment of both a tract of land, and the buildings of a shopping center, movie theater, and restaurant located on the land, where the land is owned by one business entity — Appellant Tech One *687Associates — and the buildings and surrounding improvements to the land were constructed by a second business entity— “Terra Century Associates” (“Lessee”)— and owned by it under a long-term lease. For the reasons that follow, we affirm the lower courts’ rulings that the taxing bodies in this matter — the Board of Property…