In Re Appeal of Weaver Investment Co.

TYSON, Judge.

Alamance County (“the County”) appeals the decision of the North Carolina Property Tax Commission holding: (1) the appraised value of Weaver Investment Company’s (“the taxpayer”) improved property was error; (2) the County used an arbitrary and illegal method of appraisal resulting in a value substantially exceeding the true value of the taxpayer’s property; and (3) reducing the value of the property from $4,813,953.00 to $2,880,000.00. We affirm. ■

I. Background

The taxpayer owns the Burlington Holiday Inn (“BHI”) located off of Interstate 85 at Exit 145 in Burlington, North…