Taking the Right Tax Course

Option A:   CORRECT.  In South Euclid/Lyndhurst Board of Education v. Cuyahoga County Board of Revision; C.I.A. Properties, 74 Ohio St.3d 314, 658 N.E.2d 750 (1996), the Ohio Supreme Court affirmed the decision of the tax board and found the value of the property was the amount as appraised by the education board’s expert, not the purchase price paid in the sale and leaseback agreement.  The expert took many factors such as sales price and the auditor’s value as well as current and future use and market rates in determining the appraised value.

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