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Sean P. McCormick Successfully Represents Business in Real Property Tax Valuation Appeal

Sean P. McCormick, shareholder at Green & Green, Lawyers, recently obtained a favorable ruling for a small business client in a real property tax valuation appeal to the Montgomery County Court of Common Pleas.  The business had recently purchased two parcels of real estate from a local bank.  McCormick successfully argued that the bank purchase was an arms-length transaction, and thus, the best indicator of true value.  The school board and the auditor countered that the sale was distressed because the seller was a financial institution motivated by extraordinary circumstances, which influenced the sale price.

In finding that the sale was arms-length, the Court accepted the business’ opinion of value based on the bank sale, a difference of nearly $130,000.00 from the “no change” determination rendered by the Board of Revision.  The Court determined that the business had met its burden of establishing the essential elements of an arms-length transaction; that the sale was voluntarily entered into without compulsion or duress, that the sale took place on the open market, and that the parties were motivated by their own self interests.  The Court rejected the school board’s argument, noting that it failed to present sufficient evidence indicating that the sale was forced or executed under duress.

If you or your business need assistance challenging a real estate tax valuation before the Board of Revision, the Board of Tax Appeals, or in state court, contact Green & Green, Lawyers.  We have the skill and experience to assist.