Alliance Towers, Ltd. v. Stark County Board of Revision

These appeals present us with the opportunity to clarify the test to be used to determine the true value of federally subsidized housing under R.C. 5713.03.4 For the rea*21sons set forth below, we conclude that the decision of the BTA in each case is unreasonable and unlawful.

State, ex rel. Park Investment Co., v. Bd. of Tax Appeals (1964), 175 Ohio St. 410, 412, 25 O.O. 2d 432, 433-434, 195 N.E. 2d 908, 910, states the definition of true value of real property as follows:

“In the last analysis the value or true value in money of any property is the amount for which that property would sell on…