The Arizona Tax Court has sided with property owners Kim Zeitlin Gold and others, ruling that the improvements on their industrial parcel in Maricopa County have no value due to deterioration and obsolescence. The court’s decision, issued Tuesday, rejected the Maricopa County assessor’s valuation of the improvements, which was approximately $795,000 for 2022 and nearly $2 million for 2024.
According to the court, the owners provided the only supported valuation based on evidence, stating that the single structure, partly located on an adjacent parcel, held zero value under the sales comparison and cost approaches. The county assessor, in contrast, presented no evidence to support its valuation.
The property owners agreed to the county’s valuation of the land for 2022, which was about $294,000, suggesting that the land’s value would increase by 10% annually, reaching $348,000 by 2024. The county had, however, raised its land valuation to $543,000 for 2024.
Built before 1960, the structure—housing office suites in an industrial area—was fully depreciated and lacked the features of modern warehouses, the owners testified.
