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Administration: Taxation-Real Property-Valuation Approach

Where assessors challenged a trial court judgment affirming a State Tax Commission order establishing the value of two low-income housing properties for certain tax years, the commission’s choice and application of the income approach to valuing the properties was reasonable and lawful, and the application of the income valuation method using actual rents and expenses did not create an impermissible subclassification of residential property in violation of the state constitution.

Judgment is affirmed.

Tibbs v. Poplar Bluff Associates (MLW No. 74891/Case No. SD35625 – 25 pages) (Missouri Court of Appeals, Southern District, Sheffield, J.) Appealed from circuit court, Butler County, Pritchett, J. (Patricia Louise Hughes, Liberty, for appellant) (Richard Dee Dvorak, Overland Park, Kansas, for respondent).