In re Equalization Appeal of Walmart Stores, Inc.

Summary

The court held that unadjusted build-to-suit lease data is not inadmissible as a matter of law in valuing large retail properties for property-tax purposes. Whether that data reliably reflects market rent is a matter of evidentiary weight and credibility for the Board of Tax Appeals, not a categorical legal rule for the reviewing court. The court reversed the appellate and agency decisions and remanded for reconsideration of the county's evidence without the disapproved constraint.