J. C. Penney Co. v. Richmond County Board of Tax Assessors

Ruffin, Judge.

In this tax matter concerning valuation of tangible personal property, J. C. Penney Company, Inc. (“J. C. Penney”) appeals from the superior court’s determination of the fair market value of J. C. Penney’s inventory at its store in Augusta, Georgia, for the 1996 tax year. For reasons which follow, we reverse the superior court’s decision and remand the case for further consideration.

The evidence shows that on January 3, 1996, the Richmond County Board of Tax Assessors (“the Board”) sent J. C. Penney notice that, for taxation purposes, the fair market value of J. C. Penney’s…