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STATE OF MICHIGAN
COURT OF APPEALS


WYOMING GREEN ASSOCIATES LIMITED, Petitioner-Appellee, v

UNPUBLISHED January 3, 1997

No. 185835 MTT Docket No. 00218270

CITY OF WYOMING, Respondent-Appellant.

Before: Markey, P.J., and Michael J. Kelly and M.J. Talbot,* JJ. PER CURIAM. Respondent City of Wyoming appeals as of right a judgment of the Michigan Tax Tribunal [the MTT] that reduced the true cash value [TCV] of petitioner Wyoming Green Associates' property to $4,600,000. We affirm. Petitioner owns Wyoming Green Apartments, which is a seven-building apartment complex that contains 161 one-bedroom units, sixty two-bedroom units, a rental office building, a clubhouse building, and an outdoor pool. Rents in the complex range from $380 per month to $525 per month depending on the unit's size and amenities. Respondent determined that the complex's TCV was $4,717,400; however, petitioner challenged that determination at the board of review and to the MTT, claiming the correct TCV was $4,519,000. During the appeal to the MTT, respondent asserted that the complex's $4,717,400 TCV had originally been incorrectly calculated and should be corrected to reflect a $4,880,000 TCV. Following the MTT hearing referee's determination that the complex's TCV was $4,600,000, respondent appealed, claiming that the MTT's judgment was not supported by competent, material and substantial evidence because petitioner's appraisal did not utilize all three valuation methods. Respondent also challenged petitioner's appraisal as lacking credibility and erroneously based on a capitalization rate that respondent alleged was not a market derived rate.

* Circuit judge, sitting on the Court of Appeals by assignment.
-1

Our review of MTT judgments is extremely limited. As an initial matter, an appellate court accepts the MTT's findings of fact so long as those findings are supported by competent, material and substantial evidence. Meadowlanes Limited Dividend Housing Ass'n v City of Holland, 437 Mich 473, 482-483; 473 NW2d 636 (1991). Furthermore, an appellate court also limits its review, unless fraud has been alleged, to determining whether the MTT adopted a wrong principle of law or erred as a matter of law. Const 1963, art 6,

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Michigan Law