Assessment board authorizes subpoenas in multiple appeals to obtain purchase allocations and appraisals

The Ventura County Assessment Appeals Board granted the assessor’s requests for subpoenas in several appeals on Monday, ordering parties to produce purchase‑allocation documentation, lender appraisals and supporting valuation reports tied to multi‑parcel commercial purchases.

Assessor staff told the board their review of public filings — including a purchaser’s Form 10‑K for the 2021 fiscal year — showed allocation schedules and asset values that had been prepared at the time of acquisition. Assessor representative Joe Phillips said the office needs the corresponding internal supporting documents and appraisals to reconcile the purchase allocation and ensure intangibles (such as franchise or goodwill) are not being included in the assessor’s real‑property valuation.

The board approved three subpoena motions after staff explained where they had identified evidence that the documents exist (purchase and sale agreements, settlement statements indicating the buyer paid for appraisals, and SEC disclosures listing building, land and accumulated depreciation totals). County counsel and board members discussed the legal standard for relevance under Revenue and Taxation Code section 441(d), and the board concluded good cause existed to order production in these matters.

The subpoenas seek, among other things, the buyers’ internal allocations of purchase price between land, improvements and intangibles, all appraisals used to support those allocations, and any documents showing how the buyer reported the allocations under GAAP or in SEC filings. The board said the orders are narrowly targeted to documents relevant to determining the assessable real‑property value.

Copies of the subpoenas will be served and the clerk will report back at the next scheduled status hearing on compliance.