Ellison v. Clackamas County Assessor, TC-MD 120314D, 2013 Ore. Tax LEXIS 73 (Ore. Tax Apr. 23, 2013)

(world-class equine facility with proprietary construction plans appeals real property market improvement value of property; two assessments done of property; one used sales approach and both used cost approach; appraisals differed in square footage and price per square foot for each type of improvement; argument is that property has no real market value as personal residence and world class equine facility and should be assessed using cost approach; court held no immediate market for property designed to plaintiff’s exact specifications, so cost approach should be used, but insufficient evidence presented to reconcile appraisers’ differences (one appraisal showed a value of $14,591,127 and the other $18,275,412) to determine property’s real market value, so plaintiff’s appeal denied).