AAC
praisals at all, but attained for the sole purpose of arriving at a lower value than the county’s assessments, and Mr. Ford’s er- rors and omissions made that clear. Judge Hyde’s order reflect- ed this concern, stating, “too many errors and open questions render an appraisal unbefitting credibility.” Te order contin- ues, “Te appraisals were flawed on multiple points and the evidence and testimony presented at the County Court hear- ings failed to adequately support Petitioners’ assertion of true and correct value,” therefore not meeting Petitioners’ required burden of proof” due to their heavy reliance on fundamentally flawed appraisal reports.” Earlier this month, Walmart filed its appeal of the county
court order to circuit court, which will be a trial de novo, a new trial where new evidence may be presented, with a final appeal being available to the state appellate court. School administrators as well as county and city elected of- ficials will continue to watch this case carefully as it pro- gresses through the court system, which could take years. Washington County Assessor Russell Hill has stated that the impact statewide should the state appellate court rule in favor of Walmart would be upwards of $100 million in
LEGAL CORNER
tax revenue, again hitting the school districts the hardest. A state appellate court decision in Walmart’s favor could potentially not just impact Walmart’s property values, but the values of all similar big box stores across the state. It is worth noting that the 2002 Lakeview School Dis-
trict No. 25 v. Huckabee Arkansas Supreme Court ruling (in a case which carried on for 15 years) requires the state legis- lature to provide an “adequate and equitable” education for all students under the Arkansas Constitution. In response, in 2004 and every two years since then, the Arkansas General Assembly adjusts its “adequacy” funding formula, increasing the money appropriated to school districts in need so that its constitutional duty under Lakeview is met. With the current legislature’s fiscally conservative nature, it is difficult to guess where they would find additional annual funds to make up for the inevitable shortfall to public school funding should the local property tax system take a $100 million hit. Te case that Walmart has brought in its home state has real, statewide consequences, and you can be sure that all those who might potentially be affected will be paying close atten- tion to its progress through the court system.
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