State of Michigan, Michigan Tax Tribunal, MTT Docket No. 159854, Petitioner's witness/appraiser Clarkson made a reasonable effort to measure subject's true cash value by use of methodology correlating cost, income and market information. In summary, it appears to the Tribunal that Respondent's use of STC multipliers was without independent supporting market value evidence, while Petitioner's appraisal efforts demonstrated valuation methodology incorporating current market-based information."
"That the Petitioner considered all factors of value influence, positive and negative, including external obsolescence, is more persuasive to the Tribunal in making an independent determination of value than was Respondent's valuation procedure of excluding all factors impacting upon value other than physical deterioration."