Nick and the team at Furia Property Tax represented BCORE Capstone Owner LLC in a challenge to the unequal assessment of a large industrial property in Brooklyn Park, Minnesota. The parties ultimately agreed the property’s market value for the January 2, 2022, assessment was $27,000,000 but litigated whether the property was assessed uniformly with other similar properties.

Hennepin County argued that its combined commercial and industrial ratio study for Brooklyn Park showed no unequal assessment and asked the Minnesota Tax Court to deny relief. However, the Tax Court agreed with BCORE that the proper comparison consisted of industrial properties county-wide and relied on the Department of Revenue’s 2022 industrial-only sales ratio study. As a result, the Tax Court granted BCORE’s motion for summary judgment and ordered that the assessed value be reduced from $27,000,000 to $24,894,000 after equalization. The decision reinforces the importance of applying the correct sales ratio study and ensuring that similarly situated properties are assessed uniformly.

Read the Minnesota Tax Court’s Decision Here