Despite severe OTR opposition to the disclosure of its Tax Year 2015 sale capitalization rate worksheets, the Court ruled after an evidentiary hearing, that the worksheets must be disclosed.
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WA Wins Significant DC Property Tax Trial
DC Superior Court Judge Campbell rejected the District’s formulistic assessment approach which failed to take into account the substantial amount of lease-up costs that faced this large office building property. The Court also rejected the District’s baseless Tax Year 2010 capitalization rate and its minimization of the impact the 2008 financial crisis had upon commercial real estate values.