<p>Oregon Tax Court Reduces Real Market Value of Storage Facility With High Vacancy Rate</p>

Oregon Tax Court Reduces Real Market Value of Storage Facility With High Vacancy Rate

The Oregon Tax Court reduced the real market value of a mini-storage facility after finding the assessor's income approach did not adequately account for the property's high vacancy rate and structural issues, while the owner presented a compelling argument that the property's value suffers from physical and locational problems.