In Walters v. Knox City Bd. of Revision (1989), 47 Ohio St.3d 23, 546 N.E.2d 932, the supreme court defined "arms-length sale" for R.C. 5713.03 purposes as a voluntary sale without compulsion or duress, that generally takes place in an open market where the parties act in their own self-interest. The court held that the Board of Revision failed to present evidence to rebut the presumption that the purchase price in a recent arms-length sale is presumed to represent the true value of the property.