Ratner v. Stark County Board of Revision

In Ratner I, supra, we held the following:

“Although the sale price is the ‘best evidence’ of true value of real property for tax purposes, it is not the only evidence. A review of independent appraisals based upon factors other than the sale price is appropriate where it is shown that the sale price does not reflect true value. (Columbus Bd. of Edn. v. Fountain Square Assoc., Ltd. [1984], 9 Ohio St. 3d 218, 219, construed.)”

We made this ruling after reviewing the pertinent decisions which discuss the adoption of the sale price as the true value in money of real property for tax purposes. In…