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not feasible. Neither expert considered the highest or best use
of the Bates Center to be a commercial property, and the record
does not support such a determination.
Bishop William H. Watson testified that some churches in
Lubbock started in a gymnasium without a sanctuary. Bishop
Watson testified, "I had made up my mind if I had to take just
the gym only, I would stay in the gym as the church because I see
some other churches do that kind of thing." We find that the use
of the Bates Center as a stand-alone church is supported by the
record.
Based upon our review of all the evidence, giving due
consideration to our observation at trial of the witnesses for
both parties and considering their testimony and the expert
reports, we conclude that the highest and best use of the Bates
Center on the date of valuation was as a church.
III. Valuation Methodology
The parties presented the following methods of valuing the
various properties in issue in this case: (1) The sales
comparison method, (2) the cost approach, and (3) the income
approach.
The sales comparison method involves gathering information
on sales of property similar to the subject property, then making
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