Southeast Ohio Holdings LLC, the owner of Athens Mini Storage in Athens, Ohio, was under fire last week when the Federal Hocking Local School District challenged the value set on the self-storage facility for tax purposes. Federal Hocking has filed complaints with the Athens County Board of Revision against the storage operator as well as two other businesses—Go Mart Inc. and K&H Partners—arguing their values should be based on the prices paid when the properties were purchased by the current owners.
At a July 20 hearing, the board stated the value of the storage property at 2010 E. State St. as $1.03 million based on the conveyance form filed with the county, which lists the amount paid for the real property. “The conveyance form is the best evidence we have of value,” county commissioner and board member Lenny Eliason later told the source.
As tax value is calculated as 35 percent of true value, the assessed value of the storage property for tax purposes will now be $360,500.
Facility owners Brynn and Dani Moss told the board the conveyance form is in error, as the $1.03 million price included the purchase of the business in addition to the value of the real estate. “I think it’s goofy to assume we paid this amount for a building. We were buying a business that has a long-established value,” Brynn Moss said.
The Mosses argued the true value of the property, which had been set at $872,440 prior to this week’s action by the board, should actually be reduced to $459,040, according to a complaint they filed. That would reduce the taxable value to $160,664.
Another issue discussed at the hearing was whether the use of the property should be considered when determining value. Eliason said the board agreed with Federal Hocking’s attorney that it should be taken into consideration. “You’re supposed to look at the highest and best use of the property,” he said.
The source did not indicate whether the Mosses intend to pursue further appeal.
Athens Mini Storage has been serving the Athens community, including Ohio University, since 1981.
The Federal Hocking Local School District is in Stewart, Ohio. It includes four schools that serve 1,010 students in grades pre-kindergarten through 12.
- Athens Messenger: Federal Hocking gets tax values raised on three properties