Appeal V.V.P. Partnership

In Appeal V.V.P. Partnership, 167 Pa. Commw. 282, 647 A.2d 990 (Pa. Cmwlth. 1995), the taxpayer appealed the assessment of a fitness facility that offered tennis, squash and racquetball courts. The trial court found the taxpayer's income approach to valuation purposes persuasive. Affirming the trial court, this Court noted the taxpayer's approach was logical and methodical, and not equivalent to a "use value." In particular, the taxpayer's evidence proved the fitness facility, as an investment, was worth only the income it generated.