Canyon Villas Apartments Corp. v. STATE, TAX COMM'N

OPINION

In this appeal, we consider the appropriate method for assessing the taxable value of income-producing real property when the property’s improvements contain constructional defects. This case arises from respondent the State Board of Equalization’s determination with respect to the 2004-2005 tax assessment of appellants’ properties. Each appellant owns a property containing an apartment complex. According to appellants, the 2004-2005 tax assessment of their properties did not properly account for constructional defects present in their apartment complexes. The State Board of…