Mission Viejo Co. v. Board of Equalization of Douglas County

Opinion by

Chief Judge STERNBERG.

Respondent, Douglas County Board of Equalization (Equalization Board), appeals from a ruling by the Board of Assessment Appeals (BAA). A 1992 statutory amendment provided that indirect or “soft” costs could not be considered in applying the market approach to valuation of vacant land. The issue on appeal is whether that amendment applies to the 1992 valuation of vacant land owned by petitioners, Mission Viejo Company and Mission Viejo Business Properties (taxpayers). The BAA held that the amendment did not apply. We affirm.

In 1992, the Douglas County Assessor…