Appeal of Hotel L'Europe, Inc.

9310PTC1150, Appeal of Hotel L'Europe, Inc. v. Durham County, Court of Appeals case of 98 PTC 548. "In this case it is not disputed that the reasons ascribed by the Commission for the decrease in value are in the nature of "economic changes.""

92 PTC 548, Appeal of Hotel L'Europe, Inc. v. Durham County, commercial real property appeal, values affected by federal income taxation changes made in 1986, changes in a nonrevaluation year under North Carolina General Statute 105-287(c). "If the County were required to decrease its appraisal of the subject properties on the facts presented here, it would also have to decrease the value of all similarly affected properties in the downtown area. Next, the County would have to search out areas which have increased in value, and raise its appraisal of these properties. This is precisely what the County is required to do when it conducts a general reappraisal of real property. It is neither possible nor desirable to do so in other years."