Appeal of IBM Credit Corporation

01 PTC 544, Appeal of IBM Credit Corporation v. Durham County, Final Decision on Remand. "WHEREFORE, the Property Tax Commission, based upon the North Carolina Court of Appeals' opinion reversing the Property Tax Commission with the following instructions, enter this final decision reducing the assessment of the IBM Credit Corporation's business personal property, for tax year 2001, to $96,458,707.00, the value as listed by taxpayers IBM Credit Corporation."

COA11-1144, Appeal of IBM Credit Corporation v. Durham County, Court of Appeals case of 01 PTC 544. "Accordingly, we reverse the third final decision of the Tax Commission and remand to the Tax Commission for the Tax Commission to enter a decision reducing the assessment of the property to $96,458,707.00, the value as listed by taxpayer IBM."

01 PTC 544, Appeal of IBM Credit Corporation v. Durham County, second remand. "Based on the greater weight of the evidence, Durham County has met it burden to demonstrate that its methods produce the true value of IBM Credit's computer equipment. The County's appraisal methodology is the proper means and method to produce a true value given the characteristics of IBM Credit's computer equipment."

COA08-1514, Appeal of IBM Credit Corporation v. Durham County, Court of Appeals case of 01 PTC 544. "In appraising IBM Credit's property, Durham County, we hold that the county did not make adequate deductions for depreciation by applying Schedule U5 and its transmittal instructions. The failure to make additional depreciation deductions due to functional and economic obsolescence due to market conditions results in an appraisal which does not reflect "true value.""

01 PTC 544, Appeal of IBM Credit Corporation v. Durham County, leased computers and computer-related equipment, Cost Index and Depreciation Schedules, trending tables. "Durham County's appraisal of IBM Credit's computer and computer-related equipment was not affected by any appraisal deficiencies when Schedule U% accounts for changes in the computer industry by taking a thirty percent deduction for functional and economic obsolescence, and then a straight line depreciation is taken for the next five years with a residual value of ten percent, until the property is no longer listed for taxation. As such, Durham County did not render an arbitrary or illegal appraisal."

520A07, Appeal of IBM Credit Corporation v. Supreme Court case of 01 PTC 544 and COA06-1002. "It is therefore considered and adjudged by the Court here that the opinion of the Court be certified to the said North Carolina Court of Appeals to the intent that the judgement of the Court of Appeals is Affirmed."

COA06-1002, Appeal of IBM Credit Corporation v. Durham County, Court of Appeals case of 01 PTC 544. "In light of IBM Credit's failure to overcome the presumption of correctness, no burden was shifted to Durham County. The Commission's final decision should be affirmed."

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