DEPT. OF REVENUE v. TRANSAMERICA TITLE INS. CO.

No. 2 CA-CIV 2401.

117 Ariz. 26 (1977)

570 P.2d 797

DEPARTMENT OF REVENUE, State Board of Property Tax Appeals, Pima County Board of Supervisors, Pima County Assessor, and Pima County Treasurer, Appellants, v. TRANSAMERICA TITLE INSURANCE COMPANY, Under Trust Nos. RH 27550 and RH 27269, Appellee.

Court of Appeals of Arizona, Division 2.

Rehearing Denied September 21, 1977.

Review Denied October 25, 1977.


Attorney(s) appearing for the Case

Bruce E. Babbitt, Atty. Gen. by Barbara E. Fisher, Asst. Atty. Gen., Stephen D. Neely, Pima County Atty. by John R. Neubauer, Deputy County Atty., Tucson, for appellants.

Robert C. Stubbs & Associates, P.C. by Robert C. Stubbs, Tucson, for appellee.


OPINION

HOWARD, Chief Judge.

This is an appeal by the State of Arizona and Pima County from a judgment which reduced the assessed valuation of the Plaza International Hotel and the Howard Johnson's Motor Lodge. Appellants present the following questions:

"I. Did the trial court err in relying only on the income approach to value to overcome the Assessor's presumption of correctness, to show an excessive valuation...

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