Magna Investment & Development Corp. v. Pima County

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• notwithstanding statutory presumption of correctness, Tax Court may make independent valuation of full cash value if taxpayer presents evidence to rebut the presumption and court determines that valuation is excessive or insufficient
• “Obsolescence that results from external economic factors, such as decreased demand or changed governmental regulations.”
• “Appellants correctly recognize that in fixing the full cash value of land, the effect of existing leases on the value of [sic] to the owner should not be relied upon”; “the fact that a lease unfavorable to the owner encumbers the property does not lower its full cash value.”

Source: CourtListener parenthetical corpus (CC0).