IN THE MATTER OF APPEAL OF MAY DEPT. STORES CO.

No. 9410PTC58.

459 S.E.2d 274 (1995)

119 N.C. App. 596

In the matter of The Appeal of the MAY DEPARTMENT STORES COMPANY From the Appraisal of Certain Real Property by the Forsyth County Board of Equalization and Review for 1991.

Court of Appeals of North Carolina.

July 18, 1995.


Attorney(s) appearing for the Case

Doody & Lafakis, Ltd. by Gregory J. Lafakis, Chicago, IL, and Manning Fulton & Skinner, P.A. by Michael T. Medford, Raleigh, for petitioner-appellant.

Forsyth County Attorney's Office by P. Eugene Price, Jr., Davida W. Martin, and Paul A. Sinal, Winston-Salem, for respondent-appellee.


JOHNSON, Judge.

The Commission, in making findings of fact based on the evidence, concluded that the County's appraisal of the subject property at a value of $8,497,800.00 did not exceed the true value in money of the subject property as of 1 January 1991. Taxpayer brings forward numerous assignments of error; however, this case turns on the question of whether the Commission's use of the cost approach was unlawful because it does not approximate market value as required...

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