01. Reconvene Board of Equilization
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01. Reconvene Board of Equilization
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Equalization Department <br />Box 2806 Telephone: 701-241-5616 <br />211 Ninth Street South Fax: 701-241-5729 <br />Fargo, ND 58103 assessor@casscountynd.gov <br />Delta Hotel <br />Parcel: 01-3802-00626-010Address: 1635 42nd St SValue: $13,946,800 <br />Synopsis: <br />O’Connor & Associates Tax Reduction Experts, represented by Shedrick Lewis, is appealing on behalf of Delta Hotel in Fargo. They are requesting the 2021 value be reduced to $8,385,909 based on future projections from a Discounted Cash Flow (DCF). <br />Review: <br />After submitting his appeal information, Mr. Lewis has not responded to my request for review of this property. DCF analysis has no bearing on mass appraisal assessments and will not be considered in my <br />review. Income and expenses were provided for the trailing three years but the income analysis submitted by the appellant only uses the 2020 year and does not include food & beverage income. <br />Conclusion: <br />Since the appellant did not allow me to review the property it would be difficult to support any request for change. Further analysis using the appellants income and expenses over a stabilized three-year period supports a higher value on this property. The current value is supported by the comparable sales summary submitted by the City of Fargo, although slightly on the low-end. <br />Recommended Motion: <br />Retain the current value for the Delta Hotel. <br />Page 5
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