American Express Financial Advisors, Inc. v. County of Carver

OPINION

KEITH, Chief Justice.

This case, on certiorari from the Minnesota Tax Court, concerns the proper classification and valuation for real estate tax purposes of the Oak Ridge Conference Center (Oak Ridge) and adjacent land owned and operated by American Express Financial Advisors, Inc. (American Express). On appeal, American Express challenges the decision of the tax court classifying the facility as a special purpose property and estimating the market value of the property at $27,300,000 for 1994, 1995 and 1996 using only the cost approach to valuation. We hold that the tax court’s…