STATE TAX COMMISSION OF MISSOURI

 

FOCI ENTERPRISE, LLC, et al	) )
	)
Complainant,	)
	)
v.	)	Appeal No. 15-10103 et al.[1]
	)
JAKE ZIMMERMAN, ASSESSOR,	)
ST. LOUIS COUNTY, MISSOURI,	)
	)
Respondent.	)

 

ORDER

AFFIRMING HEARING OFFICER DECISION

UPON APPLICATION FOR REVIEW

HOLDING

On August 8, 2017, Chief Counsel Maureen Monaghan (Hearing Officer) entered her Decision and Order (Decision) finding Jake Zimmerman, Assessor, St. Louis County, Missouri, (Respondent) did not intentionally assess 988 parcels of commercial property (Complainants) at a ratio greater than 32% of true value in money or at a ratio grossly excessive to the average 2015 commercial assessment ratio for St. Louis County.  Complainants subsequently filed their Application for Review of Hearing Officer’s Decision and Order.  Respondent thereafter filed his Opposition to Complainants’ Application for Review.  Complainants filed their Reply in Support of the Application for Review of the Hearing Officer’s Decision and Order.

We affirm the Decision and Order of the Hearing Officer.  Segments of the Hearing Officer’s Decision may have been incorporated into our Decision without further reference.

FINDINGS OF FACT

The issue of discrimination in assessment (commercial ratio) was presented as to all commercial ratio appeals at an evidentiary hearing on March 13 and 14, 2017, at 7733 Forsyth Blvd., Clayton, Missouri.

Ratio Studies and Defined Terms

Both Complainants and Respondent presented evidence in the form of ratio studies of the commercial property assessments in St. Louis County for 2015 prepared by experts in the field of appraisal, mass appraisal, and assessment ratio studies.  Ratio studies provide information regarding the level and equity of assessments.  Studies use a statistically significant number of properties within the same class as the subject property and compare an assessor’s value for those properties to a market value proxy for those properties.  The market value proxy is either the sale prices of similar properties in the jurisdiction within a relevant time period or an independent appraisal of randomly selected properties.  In this appeal, the ratio studies utilized recent sales of similar properties.  In the studies, the experts used the following terms:

• Appraisal Level: Overall ratio of assessor’s values to market values. Level measurements provide information about the degree to which goals or legal requirements are met.  Estimates of appraisal level are based on measures of central tendency.
• Assessed Value: Legally authorized fraction of market value.
• Assessment: Determination of true value, classification, and location within taxing districts for ad valorem taxation.
• Coefficient of Dispersion (COD): Measures the average percentage of deviation of the ratios from the median ratio. A lower COD implies a lesser amount of variability or more equity in assessments.
• Computer-Assisted Mass Appraisal (CAMA): A process that uses a system of integrated components and software tools necessary to support the appraisal of a universe of properties through the use of mathematical models that represent the relationship between property values and supply/demand factors.
• Equalization: The process by which an appropriate governmental body attempts to ensure that property under its jurisdiction is assessed at the same assessment ratio or at the ratio or ratios required by law.
• Mean: The arithmetic average.  It is created by adding together all individual samples and dividing by the number of samples.
• Median: The middle observation when the values of the data are arrayed. It divides the data into two parts.
• Price-Related Bias (PRB): It is used to measure assessment equity (regressivity/progressivity). It measures the relationship between assessment-sales ratios and value in percentage terms.  For example, a PRB of .05 indicates that, on average, assessment ratios increase by 5% whenever values double.
• Price Related Differential (PRD): Itis calculated to measure assessment regressivity or progressivity.  It is found by dividing the mean by the weighted mean.  The comparison tests for equity between low value properties and high value properties.  A PRD above 1.00 suggests that the assessment values placed on high-value parcels are relatively lower than the assessment values placed on low-value parcels.
• Progressivity: Taxation is imposed in such a manner that the tax rate decreases as the amount subject to taxation decreases.
• Ratio Study: Sales or appraisal based study designed to evaluate appraisal performance to determine if statutory requirements are met.  Studies can be used to evaluate the degree of discrimination and to adjust assessed values on appealed properties to the common level.
• Regressivity: Taxation is imposed in such a manner that tax rate decreases as the amount subject to taxation increases.
• True Value in Money: Also referred to as appraised value, market value, or fair market value.
• Weighted mean: It is the sum of the assessed values divided by the sum of the individual indicators of market value.

 

Complainants’ Evidence

 

Complainants[2] filed the BOE Decision for each parcel subject to this Decision along with the following Exhibits, which were admitted into evidence:

Exhibit	Description
A	Written Direct Testimony of Robert Denne
B	CV of Robert Denne
C	Assessment Ratio Study
D	Written Direct Testimony of Timothy Schoemehl
E	Qualifications of Timothy Schoemehl
F	CD ROM  St Louis County Assessment Roll
G	CD ROM St Louis County Assessment Roll 2016
H	Excel File – Commercial Sales 2014 – 2015 (on CD)
I	Excel File – Revised Sales List(on CD)
J	Excel File – Stratum Codes(on CD)
K	PDF Locator – Neighborhood Chart(on CD)
L	Real Estate Data Extract
M	Excel File – ComlOnlySalesWork data file (on CD)
N	Excel File – Supplemental List for Tim (on CD)
O	Commercial Sales Review Form
P	Codes
Q	CD ROM Deed Images from Metropolitan Title Data, Inc
R	DVD-ROM Assessor’s Certificates of Value (2014 & 2015)
S	DVD-ROM Assessor’s Sales Research Packages (2014)
T	DVD-ROM Assessor’s Sales Research Packages (2015)
U	Excel File Worksheet Draft 9-7-2016 (on CD)
V	Validated Sales from Tim (on CD)
W	Validated Sales from Tim with trim notes (on CD)
X	IAAO Standard on Ratio Studies 2013 (on CD)
Y	IAAO Standard on Verification and Adjustment of Sales (on CD)
Z	STC Assessor Manual, Chapter 4, Ratio Studies (2016) (on CD)
Rebuttal
AA	Rebuttal Report of Robert C. Denne
BB	Written Direct Testimony of Robert C. Denne
Surrebuttal
CC	Written Direct Testimony of Timothy Schoemehl
DD	Sales Verification Questionnaire – 21 N. Meramec
EE	Sales Verification Questionnaire – 32K130454
FF	Real Estate Information 12M330315
GG	Article dated May 1-7, 2015
HH	Commercial Sales Summary
II	Real Estate Information 16H421088
JJ	Sales Verification Questionnaire
KK	Press Release
LL	Press Release
MM	Deed
NN	Phillips Edison  SEC Report
OO	Written Direct Testimony of Robert C. Denne
PP	Study using pre-BOE valuations
QQ	Study using pre-BOE valuations
RR	CD Rom – 2015-2016 Commercial Assessments
SS	BOE Decision 19Q130163

 

 

To analyze the assessment of commercial property in St. Louis County for tax year 2015,

Complainants presented the testimony of Robert Denne (Denne), an expert in the field of appraisal, mass appraisal, and assessment ratio studies.  Denne used sales of commercial property in St. Louis County that occurred from July 2014 through June 2015. (Exhibit C p.2)  The study utilized data from the St. Louis County Assessor’s Office regarding sales of commercial properties. (Exhibit C p.2)  The number of sales requiring validation was 1,228. The commercial sales were provided to an appraiser, Timothy Schoemehl (Schoemehl) for validation per IAAO[3] standards. (Exhibit C p.3)

Schoemehl was provided with sales data obtained from the St. Louis County Assessor’s Office.  Schoemehl worked with Denne to ensure the sales validation process complied with IAAO standard for ratio studies. (Exhibit A p.8)   Schoemehl validated sales of commercial properties occurring in St. Louis County between July 1, 2014, and June 30, 2015.   Schoemehl “reviewed information in [his] possession, including the deeds, COV, and SVQ or other notes or information from the disks provided to me.  [He] looked through [the] office files for any internal research [they] may have done, including whether [they] had appraised the property or used the sale as a comparable in an appraisal.  [He] consulted recognized commercial sales databases….[and] used the St. Louis County website.  If [he] still had questions or concerns about the vailidity of a sales, [he] tried to identify a party to the sale…with whom [he] could follow up….” (Exhibit D p.6)  Of the 1,228 sales records, 306 sales were found to be valid, arm’s-length transactions.  (Exhibit A p.16)

Denne computed measures of central tendency for his ratio study – median, weighted median, mean and weighted mean.  The median is the middle number in a set of numbers.  The mean is the average or the sum of the numbers divided by the total count of numbers.  The weighted mean is the weighted average of the ratios when each ratio is weighted by its sale price, i.e., the sum of the assessed values divided by the sum of the TVM proxy (sale price).

Denne reported the following findings for commercial assessments in St. Louis County in 2015 (Exhibit C):

Median		27.4%	97.2
Weighted Median		24.1	97.8
Mean		26.7
Weighted Mean		24.3%
PRD			1.116
COD			.188
PRB			-1.750

 

Denne subsequently amended his report findings due to a “copy-paste error.”  (Exhibit OO p. 2)  He concluded

that the figures appearing in columns 3 through 11 of row 6 of that Table 3 are essentially meaningless.  For stratified data they should not have been reported, much less should they have been recommended….Complainant’s Exhibit QQ is a recalculation of the original Table 3 incorporating the data correctly trimmed of outliers from the same (post-BOE) dataset as was used for the remainder of the data in the original Table 3.

(Exhibit OO p. 3)  Denne reported the following findings for commercial assessments in St. Louis County in 2015 in his amended table, Table 3 (Exhibit QQ):

Median		29%	.906
Assessment Weighted Median		23.9%
Weighted Mean		26.7%
Stratum Value Weighted Mean		24.3%
PRD			1.116
COD			.188
PRB			-1.750

 

Table 3 of Exhibits C and QQ were calculated using post-BOE valuations.

Complainant also submitted Exhibit PP which “is an alternate to the original Table 3…which shows the effect on [the] calculations of substituting pre-BOE values for post-BOE values. (Exhibit PP)

Median		30.8%	96.25
Assessment Weighted Median		30.9%	96.56
Weighted Mean		27.6%	86.25
Weighted Mean		26%	81.25
PRD			1.131
COD			.260
PRB			-2.197

 

Respondent’s Evidence

            Respondent presented the testimony of Patrick M. O’Connor (O’Connor), an expert in the field of appraisal, mass appraisal, and assessment ratio studies.  Respondent filed the following exhibits, which were admitted into evidence:

Exhibit	Description
1	Testimony of Patrick O’Connor
2	Study of Patrick O’Connor
3	IAAO Standard on Ratio Studies
4	Spreadsheet – 145 sales used
5	2015 Ratio Study
6	Testimony of Steve Robertson
7	Spread sheet of sales from 1/1/15 to 12/31/15
8	Testimony of Sandy Youtzy
	Rebuttal
9	Testimony of John Gillick
10	CV of John Gillick
11	SLCo sale file of 18K310513
12A	SLCo sale file for 12M330315
12B	SLCo sale file for 12M330315
13	SLCo sale file for 13J330980.
14	SLCo sale file for 18K310997
15	SLCo sale file for 23T531199
16	SLCo sale file for 28P440441
17	SLCo sale file for 26G112010
18	SLCo sale file for 26K640466
19	SLCo sale file for 17N540851
20	SLCo sale file for 27K111697
21	SLCo sale file for 16H421088
22	SLCo sale file for 09N120191
23A	SLCo sale file for 17L441202
23B	SLCo sale file for 17L441202
24A	SLCo sale file for 24M221111
24B	SLCo sale file for 25M543135
25	SLCo sale file for 17N430563
26	Testimony of Patrick O’Connor
	Sur-rebuttal
27	Sur-rebuttal Testimony of Steve Robertson
28	Sur-rebuttal Testimony of Sandy Youtzy
29	St. Louis County Board of Equalization Memorandum of Waiver, dated 8/28/15, as to attorney representing other complainants alleging discrimination

 

O’Connor prepared a report involving:

1. Sales ratio study as of January 1, 2015;
2. Statistical review of a separate file of sales prices for commercial properties from 2011 through 2015;
3. Application of direct market models to a sample of sold and unsold commercial properties as of the valuation date of January 1, 2015;
4. Performance of a direct market model values-to-sales prices ratio study on a sample of sold properties; and
5. Performance of appraisal ratio studies of 2015 appraised-to-direct market model values on a sample of sold and unsold commercial properties. (Exhibit 2 p.1)

 

O’Connor’s ratio study used 145 commercial sales from the last three quarters of 2014 and the first three quarters of 2015.  O’Connor determined the following:

Mean			N/A
Weighted Mean			N/A
	Assessment Ratio	Not Calculated
Median			96.5%
	Assessment Ratio	31%
PRD			105%
COD			16.8%
PRB			-1.2%

 

In analyzing 13 of the 145 properties, O’Connor inadvertently used post-BOE valuations of the properties within the study rather than Respondent’s valuations (pre-BOE) in his study.  The BOE adopted the sales price as TVM as to those 13 properties.  The result is a 1:1 ratio of sale price to BOE valuation.  The use of the properties had no impact on the findings.  O’Connor’s report did not report a mean or weighted mean, but O’Connor testified that his study revealed a 90% weighted mean.

CONCLUSIONS OF LAW

Complainant’s Points on Review

            Complainants alleged that the Hearing Officer’s Decision is erroneous, arbitrary, capricious, unreasonable, constitutes an abuse of discretion and is contrary to Missouri law in that:

1. Complainants presented competent and persuasive evidence that Respondent’s overall  valuation of commercial property for 2015 was substantially regressive and the level of assessment in St. Louis County was therefore so grossly excessive as to be inconsistent with an honest exercise of judgment;
2. The Decision incorrectly states and applies Missouri law in that it used the median as the preferred measure of central tendency despite the presence of substantial regressivity which deprived taxpayers of a remedy to correct the discrimination caused by this regressivity in the 2015 commercial assessment; and
3. The Decision incorrectly states and applies Missouri law in that it made no findings of fact setting out why the median was the proper measure of the common level of assessment based on the evidence presented at the March 2017 STC evidentiary hearing. Likewise, the Decision fails to include findings of fact regarding the presence of regressivity as required by Missouri law.  See Section 536.090, RSMo and Iron County v. State Tax Commission, 480 S.W2d 65 (Mo. 1972) as a matter of law, based on prior decisions of the STC and on the STC’s Assessor Manual.

Complainants’ arguments in this Application for Review are based on “regressivity.”  The effect of regressivity is that higher-valued properties have generally lower ratios or effective tax rates while low-valued properties have generally higher ratios or effective tax rates.  Complainants argue that the weighted mean is the proper measure of central tendency because it is the only method that factors in the value of the property and reflects price-related bias.

 

Respondent’s Response to Complainants’ Points on Review

            In his response opposing Complainants’ Application for Review, Respondent argues that the Hearing Officer did not err because (1) the Decision correctly identifies the median as the preferred and appropriate measure for determining the common level of assessment in this appeal; and (2) the Decision contains adequate findings of fact and does not establish a new “rule” of the STC.  Specifically, Respondent argues that Complainants failed to present persuasive reasons for the STC to disregard the median given the lack of evidence showing discrimination and because “regressivity” does not prove discrimination and has no remedy in an individual appeal.

STC’s Ruling

For the reasons that follow, the STC finds Complainants’ arguments to be unpersuasive.  The STC, having thoroughly reviewed the whole record and having considered the Hearing Officer’s Decision, the Application for Review of Complainants’, Respondent’s response opposing the Application for Review, and Complainants’ Reply, concludes that the Hearing Officer’s Decision was correct and proper.

Standard of Review

A party subject to a Decision and Order of a Hearing Officer with the State Tax Commission may file an application requesting the case be reviewed by the Commission.  Section 138.432 RSMo Cum. Supp. 2015; 12 CSR 30-3.080(4).  The Commission may then summarily allow or deny the request.  Section 138.432; 12 CSR 30-3.080(5).  The Commission may affirm, modify, reverse, set aside, deny, or remand to the Hearing Officer the Decision and Order of the Hearing Officer on the basis of the evidence previously submitted or based on additional evidence taken before the Commission.  Section 138.432; 12 CSR 30-3.080(5)(A).

Commercial Ratio (Discrimination)

            A property owner whose property was correctly valued by an assessor may still seek relief under the claim of discrimination  by proving that the assessment was calculated at a greater percentage of value than other property within the same class. Systematic undervaluation, whether by an intentional plan or through use of an assessment ratio so grossly excessive as compared to the average ratio as to be inconsistent with an honest exercise of judgment by state officials of other taxable property in the same class, contravenes the constitutional right of one to be taxed upon the TVM of his property.  See Sperry Corp. v. State Tax Comm’n, 695 S.W.2d 464, 468 (Mo. banc 1985).

To obtain a reduction in assessed value based upon discrimination, the complaining taxpayer must (1) prove the true value in money of the subject property as of the taxing date; and (2) show an intentional plan of discrimination by the assessor, which resulted in an assessment at a greater percentage of value than other property within the same class and the same taxing district, or, in the absence of such an intentional plan, show that the level of assessment is “so grossly excessive as to be inconsistent with an honest exercise of judgment.”  Zimmerman v. Mid–America Financial Corp., 481 S.W.3d 564, 571 (Mo. App. E.D. 2015), quoting Savage v. State Tax Comm’n of Missouri, 722 S.W.2d 72, 78 (Mo. banc 1986).

Missouri courts have consistently held that (1) a taxpayer alleging discrimination must show the [TVM] of his property as a necessary part of his discrimination claim; and (2) the proper method of determining discrimination is to compare the actual level of assessment of the subject property as determined by the assessor to the common level of assessment for the subject property’s subclass.  Mid-America Financial Corp., 481 S.W.3d at 574, citing Savage, 722 S.W.2d at 72.

“By requiring that the level of an assessment be so grossly excessive as to be inconsistent with an honest exercise of judgment in cases in which intentional discrimination is not shown, the courts and the STC refrain from correcting assessments which reflect no more than de minimus errors of judgment on the part of assessors.”  Mid-America Financial Corp., 481 S.W.3d at 571 (internal quotation omitted).  “This standard recognizes that while practical uniformity is the constitutional goal, absolute uniformity is an unattainable ideal.”  Id. (internal quotation omitted).

In deciding whether the assessment of the subject property is “grossly excessive” or nothing more than a “de minimus error of judgment,” the STC must determine the common level of assessment for the class of property at issue within the taxing district.   In Savage, 722 S.W.2d at 79, the Missouri Supreme Court reasoned:

The “common level of assessment” has been defined as a single ratio of true value used in assessing each property in a taxing district.  [citation omitted]  The “average level of assessment” means the “arithmetical mean of the varying percentages of true value applied by . . . the assessor in assessing properties within a taxing district.”  [citation omitted]

A taxpayer has the right to have his “assessment reduced to the percentage of that value at which others are taxed[.]” [citation omitted]

 

The Missouri Supreme Court has held that the proper method of analyzing discrimination compares the common level of assessment for similarly-situated properties to the actual level of assessment imposed on the subject property.  Mid-America Financial Corp., 481 S.W.3d at 571; Savage, 722 S.W.2d at 74.  A necessary component of this comparison is the TVM of both the subject property and the similarly-situated properties, i.e., properties within the same class as the subject property.  See Id.; see also Savage, 722 S.W.2d at 74.  Once the TVM of the subject property and the similarly-situated properties has been determined, the STC can calculate at what percentage or ratio of TVM the subject property and the similarly-situated properties, respectively, have been assessed.  Mid-America Financial Corp., 481 S.W.3d at 571.  This determination requires a comparison not between the common level of assessment and the statutory assessment ratio, but between the common level of assessment and the actual level of assessment for the subject property.  Id. at 574.   Neither Missouri courts nor the STC has established a “bright-line” test to identify what constitutes a grossly excessive assessment as opposed to a mere de minimus error in judgment.  Id. at 575.  The assessment in each given case must be analyzed against the assessment under the median ratio to address the grossly excessive factor.  Id.  The STC has found a 5% disparity between the common level of assessment and the actual level assessment to be de minimus.  Town and Country Racquet Club v. Morton, 1989 WL 41005 (Missouri State Tax Commission) (affirmed on appeal in Town & Country Racquet Club v. State Tax Commission of Missouri, 811 S.W.2d 403 (Mo. App. E.D. 1991).

Measures of Central Tendency

Properly conducted ratio studies are admissible for purposes of proving both the common level of assessment and discrimination in individual cases.  Savage, 722 S.W.2d at 75.  “Assessors, appeal boards, taxpayers, and taxing authorities can use ratio studies to evaluate the fairness of funding distributions, the merits of class action claims, or the degree of discrimination.”  IAAO Standard on Ratio Studies (2013), Part 1.2.3.  “However, ratio study statistics cannot be used to judge the level of appraisal of an individual parcel.”  Id.  Such statistics can be used to adjust assessed values on appealed properties to the common level.”  Id.

In conducting a ratio study to determine the common level of assessment in a given case, three measures of central tendency are used:  the median, the mean, or the weighted mean.  The median is the midpoint of the ratios.  The mean is the arithmetic average of the ratios.  The weighted mean is the average ratio when each ratio is weighted in proportion to its sale price.  See IAAO Standard on Ratio Studies (2013), Definitions.

True Value in Money (TVM) 

 

Given the two-part test for proving a claim of discrimination in the context of ad valorem taxation as stated by Missouri courts, in the instant appeal, Complainants were first required to prove the TVM of the subject property.  Complainants presented as evidence of TVM the Decision and determination of value by the BOE.   The BOE “reviewed all the evidence submitted…and…determined the valuation of [the subject] property for 2015” was that of the Respondent’s TVM. (BOE Decision) The assessed values as set by the Respondent were set at a ratio consistent with the statutory commercial assessed ratio of 32%.  In other words, the actual level of assessment of the subject properties in these appeals was 32%.

The Hearing Officer properly found no discrimination in assessment of the subject properties.

In this appeal, there was no evidence of an intentional plan of discrimination by Respondent.  Consequently,  the Hearing Officer was left to determine whether Complainants presented substantial and persuasive evidence establishing that the level of the assessment of the subject property was discriminatory because it was so grossly excessive as to be inconsistent with an honest exercise of judgment.  Thus, Complainants were required to prove both the TVM of the subject properties and that Respondent assessed the subject property at a greater percentage, i.e., ratio, than other property in the same class as the subject property, i.e., commercial property in St. Louis County.  If discrimination were to be proven, Complainants’ remedy would have been to have the assessment of the subject properties reduced to the percentage of the value at which other commercial property had been taxed.

In this application for review, Complainants claim that the Hearing Officer erred in finding no discrimination by relying on the median as the measure of central tendency and finding that the median is the only measure the STC uses in finding the common level of assessment.  Complainants advocate the use of the weighted mean for finding the common level of assessment.  Complainants’ claim is without merit.

First, we note that, in her Decision, the Hearing Officer did not make a determination that the median is the only statistic the STC relies on for finding discrimination has occurred.  Rather, the Hearing Officer, in her discretion as fact finder, found that the average or common level of assessment for commercial properties in St. Louis County in 2015 was 31% of their TVM.  This finding was based upon all the evidence presented by both parties’ experts, including their calculations of the median, the mean, and weighted mean.  The Hearing Officer reviewed the ratio studies of the experts and concluded that, in this appeal, the median of 31% was the most persuasive determination of the common level of assessment of commercial property in St. Louis County in 2015[4] given that each of the experts reported a median, which varied by less than 0.3.  Complainants’ expert, Denne, initially reported a median of 29%, then amended the median to 30.8%.  Respondent’s expert, O’Connor, reported a median of 31%.  Expert Gloudemans, testifying on behalf of the complainants represented by Sansone, reported a median of 30.7%. Both Denne and Gloudemans reported medians that round to 31%.

With regard to whether the subject propertes had been assessed at a percentage higher than similar properties, the Hearing Officer specifically concluded that the use of the median is an appropriate measure of central tendency and has been relied upon by the STC and the Courts in previous discrimination appeals:

To determine the common level of assessment, the experts looked to measures of central tendency.  In this case, the issue of dispute between the parties is the proper measure of central tendency: the median, mean or the weighted mean.  The same issue was raised in Industrial Development Authority of Kansas City v. John Kelley, Jackson County, 1989 WL 96234 (Mo. St. Tax Comm.)  The STC, in that decision, stated “[i]t is generally accepted that when adjusting individual assessments to the average level of assessment the median ratio should be used.”  The STC has consistently accepted such measure of central tendency.  Zimmerman v. Mid-America Financial Corporation, 481 S.W.3d 564, 577 (Mo. Ct App. ED, 2015) and West County BMW v. Muehlheausler, STC 05-12569.  The STC’s Assessor Manual sets forth that the median is the measure to determine if a county is accurately assessing property.

 

The STC finds that a reasonable mind could have conscientiously reached the same result as the Hearing Officer based on a review of the entire record, and the use of the median as the measure of central tendency in this case is supported by precedent.  The STC has found a 5% disparity between the common level of assessment and the actual level assessment to be de minimus.  See Town and Country Racquet Club, 1989 WL 41005 at *13.

By comparing the actual level of assessment of the subject properties as determined by Respondent, 32%, to the median level of assessment for similarly-situated properties in St. Louis County in 2015, 31%, the Hearing Officer properly found that no discrimination occurred.  In this case, the evidence in the record compels the conclusion that a 3% difference[5] between the actual level of assessment as determined by Respondent and the median level of assessment of similarly-situated properties was a de minimus error in judgment.

Regressivity

Complainants allege the presence of regressivity in the assessments of commercial properties in St. Louis County for 2015 and such establishes discrimination as to the subject properties.  Each expert testified as to his opinion as to the existence of regressivity and appropriate corrective steps.

Denne testified that regressivity means that there is a tendency for high-value properties to have a lower level of assessment than lower-value properties.  To determine which high-value properties are valued lower than lower-valued properties, one would need to look at indicators of value such as an appraisal of the property as ratio studies could not provide such direction.  (Denne Testimony, p. 90-91)  The ratio study simply provides a “general tendency,” “[i]t does not go beyond that to any particular property.” (Denne Testimony, p. 93)  To correct regressivity, the Respondent could raise the high-valued properties and lower the very low-valued properties.  “What you really need to do to fix regressivity is to identify what caused it in the first place and to remedy the procedural deficiency that caused it…And do a reassessment…” (Denne Testimony, p. 107-108)

Gloudemans testified that “Regressivity relates to the overall trend or relationship between ratios and property values.”  (Gloudemans Testimony, p. 231)  Even though Gloudemans contended that regressivity is discrimination, Gloudemans also testified that it was unknown whether an individual property is being treated differently than other properties in the same class because “the general tendency is for the more modest or lower-value properties to be over-appraised” but “some of them are under-appraised.”  (Gloudemans Testimony, p. 231)  Gloudemans testified that, assuming regressivity among commercial properties in St. Louis County was present, the regressivity would not be “fixed” if Complainant were to prevail in the instant case.  (Gloudemans Testimony, p. 237)

Respondent’s expert, O’Connor, testified that discrimination occurs when a property is assessed at a higher level than the typical property in that jurisdiction and regressivity occurs when the high-valued properties are assessed at a lower portion of the value than low-valued properties.  (O’Connor Testimony, Tr. p. 34)  O’Connor found little indication of regressivity.  O’Connor went on to state:

“Assessments are not done by angels or God but done by human beings.  Human beings make mistakes.  The market is imperfect, so the sale prices are not – even if you had a perfect model and you applied that model, the sale prices would still vary from that perfect model. So the IAAO recognizes this and they have….an acceptable range…So regressivity exists in almost all jurisdictions in the country except for a few jurisdictions…there are few jurisdictions that are exactly at 100 percent of value.”  (O’Connor Testimony, p. 35)

 

O’Connor testified that no statistical measure presented indicated discrimination.  “[N]one of us – none of the three of us is using completely different methods, using completely different sales, using completely different standards…came up with anything that showed that the regressivity was unacceptable and outside the PRB of minus ten to plus ten.  (O’Connor Testimony, p. 95)

The Hearing Officer was within her discretion to judge the credibility of the witnesses and to weigh their testimony.  Moreover, in our capacity as a quasi-judicial body presiding over an individual tax appeal, the STC cannot provide a remedy for regressivity through isolated and uncoordinated reductions in assessed valuations.  Regressivity may be corrected through systematic county-wide reassessment every two years as prescribed by Section 137.115.  See generally Armstrong-Trotwood LLC v. State Tax Commission, 516 S.W.3d 830, 836 (Mo. banc 2017) (while tax rates are susceptible to uniformity within a class of property, property values are not).  Significantly, even Complainants’ experts admitted that the solution to correct regressivity is through reassessment in the next assessment cycle.  (Denne Testimony, p. 107-108, Gloudemans Testimony, p. 245)

DECISION

Throughout Complainants’ Application for Review in this appeal, Complainants argue that the Hearing Officer should have found discrimination in the assessment of the subject property by using the weighted mean as the measure of central tendency for determining the common level of assessment of commercial properties in St. Louis County in 2015.  However, Missouri courts have held that the proper method in analyzing discrimination in the context of ad valorem taxation compares the common level of assessment for similarly-situated properties to the actual level of assessment imposed upon the subject property.  Mid-America Finance Corp., 481 S.W.3d at 571.  Accordingly, in this case, the Hearing Officer was persuaded that the common level of assessment of commercial property in St. Louis County in 2015 was 31% based upon all of the evidence presented, including all of the measures of central tendency reported by the parties’ experts.  The Hearing Officer concluded that Respondent’s assessment of the subject property at 32% was not so grossly excessive of the common level of assessment as to be inconsistent with honest exercise of judgment and did not constitute discrimination.  We find Complainant’s arguments to be unconvincing to warrant either a modification or an overturning of the Decision.

Summary & Conclusion

A review of the record in the present appeal provides ample support for the determinations made by the Hearing Officer.  A reasonable mind could have conscientiously reached the same result based on a full review of the entire record. The Commission finds no basis to support a determination that the Hearing Officer acted in an erroneous, arbitrary, capricious, or unreasonable manner, or that she abused her discretion as the trier of fact and concluder of law in this appeal.  Hermel, Inc. v. STC, 564 S.W.2d 888 (Mo. 1978); Black v. Lombardi, 970 S.W.2d 378 (Mo. App. E.D. 1998); Holt v. Clarke, 965 S.W.2d 241 (Mo. App. W.D. 1998); Smith v. Morton, 890 S.W.2d 403 (Mo. App. E.D. 1995); Phelps v. Metropolitan St. Louis Sewer Dist., 598 S.W.2d 163 (Mo. App. E.D. 1980).

The Hearing Officer did not err in her determinations as challenged by Complainant.

ORDER

The Decision of the Hearing Officer is AFFIRMED.  Segments of the Decision and Order of the Hearing Officer, including the findings of fact and conclusions of law therein, have been incorporated without reference, as if set out in full, in this final decision of the STC.

Judicial review of this Order may be had in the manner provided in Sections 138.432 and 536.100 to 536.140, RSMo within thirty days of the mailing date set forth in the Certificate of Service for this Order.

If judicial review of this decision is made, any protested taxes presently in an escrow account in accordance with this appeal shall be held pending the final decision of the courts unless disbursed pursuant to Section 139.031.8, RSMo.

If no judicial review is made within thirty days, this decision and order is deemed final and the Collector of  St. Louis County, as well as the collectors of all affected political subdivisions therein, shall disburse the protested taxes presently in an escrow account in accord with the decision on the underlying assessment in this appeal.

SO ORDERED April 3, 2018.

STATE TAX COMMISSION OF MISSOURI

 

Bruce E. Davis, Chairman

 

Victor Callahan, Commissioner

 

Will Kraus, Commissioner

 

Certificate of Service

I hereby certify that a copy of the foregoing has been sent electronically or mailed postage prepaid this 3rd day of April, 2018, to: Complainants(s) counsel and/or Complainant, the County Assessor and/or Counsel for Respondent and County Collector.

Jacklyn Wood

Legal Coordinator

 

Complainants represented by Sansone Tax Representative and Counsels Thomas Campbell and Jason Turk filed the following exhibits as part of the hearing to determine the common level of assessment (ratio) for commercial properties in St. Louis County in 2015:

 

 

Exhibit	Description
A	Written Direct Testimony of Robert Gloudemans
B	Written Direct Testimony of John Hottle
C	Commercial Ratio Study of Robert Gloudemans
D	Supplement to Appendix 2 of Exhibit C
	Sur-Rebuttal
E	Testimony of Robert Gloudemans
F	Testimony of John Hottle
G	Impact Notice 10L420653
H	Impact Notice 13K520081
I	Impact Notice 14N120030, Letters from Assessor
J	Impact Notice 15N130407, Letters from Assessor
K	Impact Notice 15K240583
L	BOE Decision 16M530069, Impact Notice
M	Impact Notice 16P610696, Letters from Assessor
N	Impact Notice 19Q140113
O	BOE Decision 21K331251, Impact Notice
P	BOE Decision 22S121644, Impact Notice
Q	Impact Notice 23S540286, Letters from Assessor
R	Impact Notice 28L640434
S	Impact Notice 29H210253, Letters from Assessor

 

 

 

EXHIBIT A
Appeal Number	Taxpayer Name	Parcel/Location
15-10103	FOCI Enterprise LLC	06G140293
15-10104	FOCI Enterprise LLC	06G140307
15-10105	BSC HOLDINGS LLC	06G540044
15-10106	YATIM PROPERTIES LTD	06J521098
15-10107	OTTO PARTNERSHIP THE A MOGENPTNSP	07H130764
15-10108	SLATER LITCHFIELD L P	07H130883
15-10109	BRIDLE DEVELOPMENT CORP	07H130957
15-10110	BRIDLE DEVELOPMENT CORP	07H410101
15-10111	BEHLMANN PROPERTIES FAMILY LTD PTNSP	07H410134
15-10112	SUNSET PROPERTIES LLC	07H410420
15-10113	LCRF LLC	07J220853
15-10114	LCRF LLC	07J220864
15-10115	LCRF LLC	07J220941
15-10116	JEH REAL ESTATE HOLDINGS LLC	07J220952
15-10117	FAPCO INC	07J310372
15-10118	LCRF LLC	07J310460
15-10119	LCRF LLC	07J310493
15-10120	LCRF LLC	07J310503
15-10121	SWEENEY FLOYD L     TRUSTEE ETAL	07J310514
15-10122	PATTERSON PLAZA LLC	07J441250
15-10123	SHACKELFORD ASSOCIATES LL C	07K530942
15-10124	SHACKELFORD ASSOCIATES LL C	07K530953
15-10125	DDL PARTNERSHIP L P	07L330345
15-10126	HOWDERSHELL CARWASH LLC	07L620163
15-10128	HALLIBURTON WILLIAM K & JOAN Y H/W	08E410040
15-10129	Midwest Petroleum Company	08E520084
15-10130	T-DOGGS TATTOOS LLC	08E520875
15-10131	BEHLMANN INVESTMENTS	08F310884
15-10132	BEHLMANN INVESTMENTS	08F310895
15-10133	PIMENTEL CEDRICK TRUSTEE	08F321059
15-10134	GOERSS WAYNE E  KATHY A  H/W ETAL	08G240625
15-10135	LCRF LLC	08H331012
15-10136	BEHLMANN LAMBERT E  ALMA M  H/W TRS	08H610456
15-10137	SOARING EAGLESL L C	08H610478
15-10138	BALDRIDGE KEEVEN PROPERTIES L L C	08K121084
15-10139	BALEK JOSEPHINE      TRUSTEE ETAL	08K210579
15-10140	ROTENBERG MARVIN S  NANCY L  H/W	08K610704
15-10141	OTTO PARTNERSHIP L L C THE	08K610726
15-10142	SHARK JOSEPH A     ETAL	08K620693
15-10143	PARK 370 INVESTORS L L C ETAL	08M110060
15-10144	AMS PROPERTIES-HAZELWOOD L L C	08M140090
15-10145	MCW- RD SIERRA VISTA PLAZA LLC	09E210225
15-10146	MCW- RD SIERRA VISTA PLAZA LLC	09E210292
15-10147	SLATER ALICE M     TRUSTEE	09E210302
15-10148	DDL PARTNERSHIP LTD	09G110112
15-10149	RAZZAQUE NAVEED   ANJUM   H/W TRUSTEES	09G130264
15-10150	LEWIS & CLARK STATE BANKOF ST L CO	09G210278
15-10151	U S I WEST L L C	09H320035
15-10152	SULTAN FAMILY PARTNERSHIPNO 1 L P	09H340253
15-10153	ST LOUIS MEDICAL REHAB GROUP LLC	09J220295
15-10154	OTTO PARTNERSHIP THE	09J630166
15-10155	MYERS HOUSE LLC	09K340402
15-10156	LINDNER DONALD R TRUSTEE ETAL	09K430129
15-10158	K C PROPCO L L C	09L440600
15-10159	BEHLMANN INVESTMENTS	09M620416
15-10160	J FINCH LLC	09N220291
15-10161	GOLDKAMP RAYMOND F     TRUSTEE ETAL	09N230102
15-10162	H & L INVESTMENT CO	09N230113
15-10163	H & L INVESTMENT CO	09N230168
15-10164	4334-4336 BRIDGETON IND DRIVE L L C	09N240178
15-10165	RAVEN INDUSTRIES INC	09O110234
15-10166	STOCK PROPERTIES L L C	09O130067
15-10167	MOSON AUTOTECH LLC	09O210158
15-10168	DALCO INDUSTRIES INC	09O230145
15-10169	CROSSROAD PROPERTIES LLC A MISSOURI LIMI	09O230156
15-10170	BRIDGETON PROPERTIES L L C	09O310038
15-10171	BRIDGETON PROPERTIES L L C	09O310049
15-10172	LOHMANN PAUL A  DELORES C H/W TRS	09O320114
15-10173	SCHACHT FAMILY HOLDING COMPANY LLC	09O320147
15-10174	HYINK FAMILY PARTNERSHIP THE	09O320158
15-10175	DCL REAL ESTATE LLC	09O330092
15-10176	MERUS PROPERTIES II L L C	09O330300
15-10177	BK HOLDINGS INC	09O420072
15-10178	DUGAN FINANCING LLC	09O420083
15-10179	MCW- RD SIERRA VISTA PLAZA LLC	10E530260
15-10180	LEWIS & CLARK MERCANTILEBANK	10E530381
15-10181	270 Properties LLC	10E530392
15-10182	SLATER LITCHFIELD L P	10E530417
15-10183	USI 270 L P	10E540344
15-10184	CARROLL DEVELOPMENT L L C	10G440264
15-10185	BEHLE RONALD J  GINGER   H/W	10H430512
15-10186	BEHLE RONALD J  GINGER C  H/W	10H430530
15-10187	BEHLE RONALD J  GINGER   H/W	10H430549
15-10188	130 BYASSEE LLC	10K130050
15-10189	BYASSEE ENTERPRISES LLC	10K130061
15-10190	FOOD N FUN INC	10K220173
15-10191	EEB BERK LLC	10K240216
15-10192	FOLLMAN ROMISSCOURT L LC	10K310362
15-10193	BYASSEE ENTERPRISES LLC	10K410033
15-10195	AILANTHUS L L C	10M340390
15-10196	SUVAS CORPORATION	10M530113
15-10197	COOK BROS R E L L C	10M610264
15-10198	JASSO JOSEPH J	10M610286
15-10199	SPARROWHAWK BROWN CAMPUS II LP	10M640393
15-10200	MJ INVESTMENT PROPERTIES L L C	10N140063
15-10201	THF-S EARTH CITY DEVELOPMENT L L C	10O210309
15-10202	GOLD DUST L L C	10O310072
15-10203	STERLING SHORELINE PARTNERSHIP II LLC	10P610041
15-10204	JARRELL INVESTMENTS L P	10P610113
15-10205	JARRELL INVESTMENTS L P	10P610122
15-10206	ACROPOLISPM SHORELINE LLC	10P620194
15-10207	SAPPHIRE BAKERY COMPANY LLC	10P620233
15-10208	NORTH COUNTY SUPER STORAGE LLC	11F240512
15-10209	COLLIER HAL O	11F241319
15-10210	LEWIS & CLARK 195 L L C	11F241328
15-10211	BARNEY CHARLES R	11F411305
15-10212	BEAUTIFUL SOUNDS L L C A MO LTD LIABILIT	11F520571
15-10213	NORTH COUNTY SUPER STORAGE LLC	11F520580
15-10214	Midwest Petroleum Company	11G330263
15-10215	CHAMBERS PLAZAWEST LLC	11G340668
15-10216	CHAMBERS PLAZAWEST LLC ETAL	11G340851
15-10217	UNITE HERE LOCAL 74 BUILDING CORPORATION	11N210194
15-10218	HAHN MCKELVEY LLC	11N230217
15-10219	BERWALD DAVID M  GAIL   H/W	11N230309
15-10220	KATSEV PROPERTY HOLDINGS L L C	11N230318
15-10221	THURSTON KATHY & JEFFERY H/H	11N241006
15-10222	JERRY MICHEL INC	11N310681
15-10223	ST CHARLES ROCK ROAD DEVELOPMENT L L C	11N320976
15-10224	ORCHARD BEND ASSOCIATES LP	11N331161
15-10225	CROWN DIVERSIFIED INDUSTRIES CORP	11N420104
15-10226	CROWN DIVERSIFIED INDUSTRIES CORP	11N420122
15-10227	BALDRIDGE KENNETH R     TRUSTEE	11N531130
15-10228	BZ PROPERTIES LLC	11N630314
15-10229	KELB INC A MISSOURI CORPORATION	11O610560
15-10230	Iah & FIA Investments LLC	11O620163
15-10231	KARAKAS ASSOCIATES	11O620361
15-10232	FEUTZ CALVIN FFUNERAL HOME INC	12F221215
15-10233	FEUTZ CALVIN FFUNERAL HOME INC	12F240346
15-10234	NGUYEN JAKE ETAL	12G130163
15-10235	MARKOS OWENS INVESTMENTS LLC	12H510461
15-10236	R & H INVESTMENTS MISSOURI PARTNERSHIP	12H510470
15-10238	MID AMERICA PIERING INC	12K110322
15-10239	Slah LLC	12K130021
15-10240	KRB BALDRIDGE PROPERTIES LLC	12K210264
15-10241	JOHN J CONNELLCOMPANY INC	12K641453
15-10242	ST ANN GOLFOMAT INC	12L110965
15-10244	D & A BUILDING L L C	12L120261
15-10246	GFI LAND LLC	12O130254
15-10247	WEBER FRED INC	12O140631
15-10248	S & P DEAN PROPERTIES L LC	12P320083
15-10249	GFI LAND LLC	12P320115
15-10250	RIVERPORT PROJECT TRUST BOARD OF TRUSTEE	12P640062
15-10251	RIVERPORT PROJECT TRUST BOARD OF TRUSTEE	12P640073
15-10252	RIVEPORT PROJECT TRUST BOARD OF TRUSTEES	12P640084
15-10253	UNITED PLUS PETROLEUM LLC	13F541053
15-10254	SANSONE PLAZA ON THE BOULEVARD LOT 3 LLC	13G430062
15-10255	MASSARI INC	13J220595
15-10256	PANELMATIC  ST LOUIS INC	13J531686
15-10257	PANELMATIC ST LOUIS INC	13J531697
15-10258	BERKELEY PROPERTIES INC AMO CORP	13K331090
15-10259	BERKELEY PROPERTIES INC AMO CORP	13K331100
15-10260	RADHE INC	13K540298
15-10261	YOUNG TERRY M  JANICE J  H/W TRUSTEES	13K540661
15-10262	ROCK ROAD PARTNERS L L C	13L311376
15-10263	SHEN JOSEPH DEWEI & XU PEI MING H/W	13L421613
15-10264	VATTEROTT PROPERTIES INC	13L430936
15-10265	CFV COMMERCIAL PROPERTIES INC	13L430954
15-10266	CHARLES F VATTEROTT COMMERCIAL PROPERTIE	13L431067
15-10267	FOCI Enterprise LLC	13M120021
15-10268	COLLINS STANLEY L ETAL	13M522036
15-10269	CFV COMMERCIAL PROPERTIES INC	13M640583
15-10270	COSTELLO KENT B     TRUSTEE	13N110517
15-10271	COSTELLO KENT B     TRUSTEE	13N110526
15-10273	LAFRANCE MANUFACTURING COMPANY	13N110764
15-10274	2458 OLD DORSETT LLC	13O310251
15-10275	CHOW INVESTMENTS L L C	13O340481
15-10276	ALBERTA PROPERTIES 6514 L L C	14G640415
15-10277	HELBLING WILLIAM G     TRUSTEE	14H210132
15-10278	MWA GROUP LLC	14J240792
15-10279	ALBERTA PROPERTIES 8804 L L C	14J531544
15-10280	GRUBBS BRIAN D  ELLEN B  H/W	14K231287
15-10281	MCDONALDS REAL ESTATE COMPANY	14K231430
15-10282	ROCK ROAD PARTNERS L L C	14K431069
15-10283	LINDNER FAMILY LIVING TRUST	14L240196
15-10284	OVERLAND HARDWARE COMPANYINC	14L320034
15-10285	SCHUETTE JOHN   PHYLLIS   H/W ETAL	14L321013
15-10286	OVERLAND HARDWARE COMPANYINCA MO CORP	14L321402
15-10287	L & H REALTY DEVELOPMENT LLC	14M221385
15-10288	APACHE NO 6 LLC	14N120063
15-10289	FOLLMAN NORTHLINE L L C	14N130132
15-10290	NORTHLINE PROPERTIES L L C	14N140207
15-10291	TDS Realty LLC	14N211532
15-10292	TDS Realty LLC	14N211541
15-10293	VERNA PROPERTIES LLC	14N221593
15-10294	VERNA PROPERTIES L L C	14N222523
15-10295	VERNA PROPERTIES L L C	14N222541
15-10296	VERNA PROPERTIES L L C	14N222550
15-10297	WILLIAMS STANLEY JR REVOCABLE LIVING	14N230306
15-10298	ROCK ISLAND GROUP LLC	14N230324
15-10299	SHELBY ASSETS LLC	14N230470
15-10300	PROGRESSIVE BUSINESS EQUIPMENT INC	14N330460
15-10301	WOTKA JOSEPH A TRUSTEE ETAL	14N440635
15-10302	PAVELEC FAMILYPARTNERSHIP L P THE	14N610773
15-10303	PCS 87 LLC	14O220571
15-10304	FACILITY BRANDS FACILITY LLC	14O310692
15-10305	LITHO BUILDING CORPORATION	14O330351
15-10306	DORSETT MCKELVEY LIMITED LIABILITY	14O530296
15-10307	MCW R D DORSETT VILL L L C	14O530515
15-10308	MCW R D DORSETT VILL L L C	14O530524
15-10309	SPANISH WOODS LLC	14O530542
15-10310	2458 OLD DORSETT LLC	14O630330
15-10311	HRM INC	15G120392
15-10313	LBL INVESTMENTS L L C	15L111046
15-10314	HUDDLESTON SHIRLEY J	15L640289
15-10315	HUDDLESTON SHIRLEY J	15L640564
15-10316	SUNSET PROPERTIES L L C	15L641147
15-10317	OVERLAND HARDWARE COMPANY	15L641356
15-10318	CDH INVESTMENTCO	15M120054
15-10319	LOU FUSZ PROPERTIES L L C	15M140113
15-10320	LOU FUSZ PROPERTIES L L C	15M230692
15-10321	BUETTNER FAMILY L L C	15M311212
15-10322	JHT INVESTMENTS L L C	15M420080
15-10323	JEROME GLICK INC	15M430320
15-10325	LACKLAND BUSINESS PARK LLC	15N230185
15-10326	SAFETY NATIONAL CASUALTY CORPORATION	15N240030
15-10328	MORGENTHALER ROBERT B     TRUSTEE	15N420089
15-10330	COMPREHENSIVE PROPERTIESL L C	15N510168
15-10331	LACKLAND BUSINESS PARK LLC	15N510180
15-10332	PIEPER JOHN F  FRANCES K  H/W TRS	15N520145
15-10333	TAYCO WESTPORT L L L P	15N520167
15-10334	U S BANK NATIONAL ASSOCIATION	15N520178
15-10335	U S BANK NATIONAL ASSOCIATION	15N520189
15-10336	7 MILLPARK L L C	15N640188
15-10337	2351 MILLPARK L L C	15N640232
15-10338	ALLIANCE EQUITIES PARK 270 LLC	15O220314
15-10339	CUNA MUTUAL INVESTMENT CORP WI CORP	15O240172
15-10340	BRIMAR L P A MISSOURI LIMITED PARTNERSHI	15O340425
15-10341	MNJ INC	15O610191
15-10342	JARIWALA MAHENDRA	15O620013
15-10343	HALLIBURTON WILIAM K	15O620123
15-10344	U GAS WESTPORT WESTLINE LLC	15O640404
15-10345	ALROB L L C	16H210383
15-10346	ALROB L L C	16H230040
15-10347	ALROB L L C	16H230051
15-10348	ALROB L L C	16H230062
15-10349	ALROB L L C	16H230224
15-10350	ALROB L L C	16H230260
15-10351	CHRISTO L L C	16H241224
15-10352	CHRISTO L L C	16H241426
15-10353	HRM INC	16H312188
15-10354	HRM INC	16H312199
15-10355	HRM INC	16H312201
15-10356	CURTIS-TOLEDO INC	16H340985
15-10357	MARKOS OWENS INVESTMENTSLLC	16H431593
15-10358	HARTMAN-WALSH CORPORATION	16H440085
15-10359	7112 PAGE LLC	16J311304
15-10360	T & J HOLDINGS L L C  ETAL	16J410085
15-10361	1501 WOODSON ROAD L L C A MISSOURI LIMIT	16K110872
15-10362	COLCOR PROPERTIES LC	16K130386
15-10363	M & W Investments	16K410161
15-10364	BIG NET LLC	16K610723
15-10365	ROBERT VATTEROTT PROPERTIES INC	16L421203
15-10366	C & H REAL ESTATE LLC	16L421434
15-10367	GINO CORP A MISSOURI CORPORATION	16L430256
15-10368	SWEENEY FLOYD L  MARTHA L  H/W TRUSTEES	16L430355
15-10369	USI MANAGEMENTCO  MO GENERALPTNSP	16L440244
15-10370	NATIONAL RETAIL PROPERTIES L P	16L530703
15-10371	FUSZ EUGENE A     TRUSTEE ETAL	16M120055
15-10372	FUSZ EUGENE A     TRUSTEE ETAL	16M120066
15-10373	LARSON CAPITAL FUND II LLC	16M210255
15-10374	LARSON CAPITAL FUND II LLC	16M210299
15-10375	KOINOS LLC	16M230121
15-10376	LARSON CAPITAL FUND II LLC	16M230143
15-10377	APACHE NO 1 LLC	16M510027
15-10378	NORTH LINDBERGH L P	16M510313
15-10379	LOU FUSZ PROPERTIES L L C	16M530333
15-10380	GRIESEDIECK SERVICE MANAGEMENT INC	16M540134
15-10381	MR N MISSOURI L L C	16M540411
15-10382	Lou Fusz Properties LLC	16M610271
15-10383	RITTER JAMES A  BELINDA L  H/W	16M620335
15-10384	F & S PROPERTYHOLDINGS INC	16M630389
15-10386	Olive Arcade Plaza Venture	16P242196
15-10387	MCW RD BELLERIVE PLAZA LLC	16P310101
15-10388	KC Propco LLC	16P522355
15-10389	OMP INC	16Q130977
15-10390	13990 OLIVE PARTNERS L L C	16Q130986
15-10391	BRIGHT REAL ESTATE LLC	16Q311055
15-10392	GERSHMAN BETTIE       TRUSTEE	16Q330810
15-10393	White Front Furniture Company	16Q330892
15-10394	JPH REALTY L L C	17H440112
15-10395	JPH REALTY L L C	17H440121
15-10396	JPH REALTY L L C	17H440130
15-10397	HRM PROPERTIESINC	17H632157
15-10398	941 MIDLAND L L C	17J210622
15-10399	OLIVE ROAD LLC	17J310788
15-10401	MIDWEST ST LOUIS L L C	17J320271
15-10402	BURKEMPER HOLDING COMPANYL LC	17J410372
15-10403	C SEDLAK PROPERTIES LLC	17J510087
15-10404	C SEDLAK PROPERTIES LLC	17J510108
15-10405	C SEDLAK PROPERTIES LLC	17J511440
15-10406	C SEDLAK PROPERTIES LLC	17J511538
15-10407	NGO QUANG M & SUAN H H/W	17J522363
15-10408	SERVICE MASTERCONTRACT SERVICE INC	17J621143
15-10409	WREN FRED H JR & CAROL H/W TRUSTEES	17J621880
15-10410	Clayton Olive Joint Venture	17K431921
15-10411	KLOTZER CHARLES L     TRUSTEE	17K440158
15-10412	NGO QUANG M & SUSAN H H/W	17K440334
15-10413	CHEN CHAU LIANG & LIH HWAYU H/W	17K440411
15-10414	CENTRAL ENTERPRISES L L C	17K541073
15-10415	LINS GOURMET INVESTMENTS L L C	17K541116
15-10416	ALBERTA PROPERTIES 1220 L L C	17K640172
15-10417	OLIVETTE REAL ESTATE LLC	17L430246
15-10418	COLLINGWOOD INVESTMENT GROUP L L C	17L620645
15-10419	TUREC JILL	17L630974
15-10420	D E GREEN FAMILY LIMITED PARTNERSHIP	17L631041
15-10421	LOU FUSZ PROPERTIES L L C	17M440057
15-10422	D & D PARTNERSHIP LLC ETAL	17M440101
15-10423	D & D PARTNERSHIP LLC ETAL	17M440277
15-10424	FUSZ PAUL D     TRUSTEE ETAL	17M440943
15-10425	Lou Fusz Properties LLC	17M530103
15-10426	ZURIAL PROPERTIES LLC	17M530422
15-10427	ZURIAL PROPERTIES LLC	17M530433
15-10428	11505 Olive LLC	17N410932
15-10429	11505 Olive LLC	17N410950
15-10430	11505 Olive LLC	17N410961
15-10431	LINDBERGH WARSON PROPERTIES INC	17N420421
15-10432	CREVE COEUR REAL ESTATE VENTURE II	17N420454
15-10433	CREVE COEUR REAL ESTATE VENTURE II L L C	17N420597
15-10434	LARSON CAPITAL FUND I L P	17N420603
15-10435	PLAYFUL LEARNING PROPERTIES LLC	17N510698
15-10436	11100 OLIVE LLC	17N540080
15-10437	GERSHMAN BETTIE      TRUSTEE	17N540732
15-10438	PLAZA MEMBERS III	17O310431
15-10439	BOULEVARD INVESTMENT CO	17O331133
15-10440	LANG LOUIS G  ELIZABETH A  H/W TRS	17O341927
15-10441	SCOTT JOE H SR    TRUSTEE ETAL	17O342452
15-10442	D G REAL ESTATE INC	17O510192
15-10443	LC REAL ESTATE LLC	17O520180
15-10444	BAMBOO WOODCREST HOLDINGS LLC	17O530907
15-10445	BAMBOO WOODCREST HOLDINGS LLC	17O540320
15-10446	O CONNOR CHERYL K TRUSTEE	17O540342
15-10447	O CONNOR CHERYL K TRUSTEE	17O540353
15-10448	MORITZ L L C	17P640089
15-10449	KUETHER LLC	17Q110644
15-10450	THF CHESTERFIELD DEVELOPMENT L L C	17T130166
15-10451	GAMMA ENTERPRISES LLC	17T330069
15-10452	CHESTERFIELD GROVE MARKETL LC	17T330070
15-10453	FOLLMAN-LEVY SPIRIT VENTURE	17U110178
15-10454	Pulaski Bank	17U110695
15-10455	Pulaski Bank	17U120254
15-10456	KJJJ PROPERTIES LLC	17U130275
15-10457	KEHR DEVELOPMENT L L C	17U130583
15-10458	BMPB LLC	17U130660
15-10459	LOU FUSZ PROPERTIES L L C	17U140506
15-10460	H D E CORP	17U230254
15-10461	THF CHESTERFIELD THREE DEVELOPMENT L L C C/O EMPER	17U330244
15-10462	LOU PROPERTIES LLC	17U420158
15-10463	MASE L L C	17U510073
15-10464	SAVE GASOLINE CORP A MO CORP	17U510084
15-10465	FRISELLA PROPERTIES LLC	17U520148
15-10466	HALLIBURTON JOAN Y & WILLIAM K H/H TRUST	17V210101
15-10467	CROWN DIVERSIFIED INDUSTRIES CORP	17V230154
15-10468	EDISON 177 L C	17V320255
15-10469	T I K A HOLDINGS LLC	17V320266
15-10470	VAIBHAV LAKSHMI LLC	17V510193
15-10471	Avanti Properties LLC	17V520246
15-10472	SUCCESSFUL INVESTORS THE	17V630059
15-10473	SEAMLESS INVESTMENTS LLC	17W120076
15-10474	CENTURION INVESTMENTS INC	17W320412
15-10475	SCHARR JACK B	17W620280
15-10476	RPSLRD LLC	18H420078
15-10477	7601 FORSYTH L L C	18J110413
15-10478	GERSHMAN SOLON      TRUSTEE	18J110424
15-10479	GERSHMAN SOLON      TRUSTEE	18J111546
15-10480	GERSHMAN SOLON      TRUSTEE	18J111557
15-10481	BURCH PROPERTIES INC	18J411583
15-10482	U CITY LIONS LLC A MISSOURI LTD LIABILIT	18J621254
15-10483	U CITY LIONS LLC A MISSOURI LTD LIABILIT	18J621265
15-10484	PLAZA MEMBERS I L L C	18K120488
15-10485	SM PROPERTIES IV L L C	18K140332
15-10486	SM PROPERTIES FOUR-A L L C	18K230831
15-10487	SM PROPERTIES FOUR-A L L C	18K230840
15-10488	RPSTL LLC	18K310414
15-10489	S G I HOTEL L L C	18K310502
15-10490	S G I HOTEL L L C	18K310546
15-10493	2 NORTH CENTRAL L L C	18K320523
15-10494	16 NORTH CENTRAL L L C	18K320590
15-10495	NORTH CENTRAL REALTY LLC	18K320600
15-10496	19 23 NORTH BEMISTON L L C	18K320644
15-10497	STERN THOMAS A  KAREN G  H/W	18K320699
15-10498	NORTH CENTRAL PROPERTY L L C	18K320754
15-10499	38 48 NORTH CENTRAL L L C	18K320802
15-10500	7817 FORSYTH L L C	18K320886
15-10501	TWO CORNERS L L C	18K321106
15-10502	PWK INVESTORS L L C	18K330335
15-10503	FRED W AHLEMEIER CO	18K430259
15-10504	SERENITY HOMES LLC	18K530469
15-10505	NATIONSBANK N A TRUSTEE ETAL	18K531349
15-10506	SRT ENTERPRISES INCORPORATED	18K640261
15-10507	SRT ENTERPRISES INCORPORATED	18K641800
15-10508	SMITH RUSSELL JOHN TRUSTEE	18M140330
15-10509	JONAN PROPERTIES LLC	18M440432
15-10510	DELMAR GARDENSAT CONWAY RIDGE L L C	18S320435
15-10511	KING REAL ESTATE INVESTMENTS II L L C	18U430136
15-10512	OVERMANN RAYMOND V TRUSTEE	18U430170
15-10513	OVERMANN RAYMOND V TRUSTEE	18U430181
15-10514	J R A LLC	18U430345
15-10515	ANDREWS REAL ESTATE ENTERPRISES NO 5 LLC	18V230078
15-10516	LIPTON CLAYTON HANLEY LLC	19J110425
15-10517	STEWART W LAYTON TRUSTEEETAL	19J310010
15-10518	ROBERT J AMBRUSTER INC	19J310021
15-10519	WAGNER ENTERPRISES L L C	19K220897
15-10520	FIRST BRENTWOOD PROPERTIES L L C	19K220903
15-10521	CLAYSHIRE PROPERTIES L LC	19K231204
15-10522	WCS Clayton Road LLC	19K310581
15-10523	LIPTON CLAYTON HANLEY LLC	19K320568
15-10524	SHIRE OIL CO	19K620484
15-10525	BURCH PROPERTIES INCORPORATED	19K641274
15-10526	FUHRER ESTHER C TRUSTEE ETAL	19M310040
15-10527	FUHRER ESTHER C TRUSTEE ETAL	19M310062
15-10528	CICERO INVESTMENT CO THE	19M310127
15-10529	CLAYBELL INN INC	19M310161
15-10530	RFJ ENTERPRISES LLC	19M340135
15-10531	9640 CLAYTON LLC ETAL	19M340180
15-10532	FRONTENAC RACQUET CLUB INC	19M411053
15-10533	FRONTENAC RACQUET CLUB INC	19M411460
15-10534	R W INVESTMENT CO L L P	19M421513
15-10535	OLD FRONTENAC SQUARE L L C	19M421546
15-10536	WALKER T & C LLC	19P230101
15-10537	AMSI PROPERTIES LLC	19P330056
15-10539	WESTALL DOUGLAS V  VICTORIA R  H/W	19Q130141
15-10540	WESTALL DOUGLAS V  VICTORIA R  H/W	19Q130152
15-10541	WOODLAKE CONDO LLC	19Q130163
15-10542	WOODLAKE CONDO LLC	19Q130174
15-10543	EDWIN R COHEN & ASSOCIATES LP	19Q130185
15-10544	DEN-GRANT INC	19Q130196
15-10545	BRENEMAN GARY L  ALICE J  H/W	19Q130204
15-10546	BIEBEL CURT F JR IRREVOCABLE TRUST	19Q130213
15-10547	WOODSMILL HOLDINGS LLC	19Q130222
15-10548	PAGE JEFFEREY M	19Q130231
15-10549	RED CLAY LLC	19Q130240
15-10550	LORAN PROPERTIES LLC ETAL	19Q130507
15-10551	VATTEROTT PAUL B JR MARJORIE M  H/W	19Q410047
15-10552	JJG PROPERTIESL L C	20J210231
15-10553	MASON CONTRACTORS ASSN OF ST LOUIS	20J242003
15-10554	SM PROPERTIES 2000 RICHMOND LLC	20J540938
15-10555	STILLWATERS INVESTMENTS LLC	20J541441
15-10556	KRUSSELL HENRY W     TRUSTEE	20J541560
15-10557	A K ASSOCIATESL L C	20J541571
15-10558	SM PROPERTIES 2000 RICHMOND LLC	20J541607
15-10559	SHEN JOSEPH D & XU PEI MING H/W	20J610684
15-10560	AMBRUSTER ROBERT J INC ACORPORATION	20J631144
15-10561	SM PROPERTIES 2000 RICHMOND LLC	20J631605
15-10562	Pulaski Bank	20J631751
15-10563	CORNELIUS PROPERTIES L L C	20J640652
15-10564	WOTKA JOSEPH ARMIN TRUSTEE ETAL	20J640753
15-10565	LB MANAGEMENT L L C	20K310064
15-10566	ROEHM ALFRED      TRUSTEE ETAL	20K310141
15-10567	LAWLOR GERALD T TRUSTEE	20K310284
15-10568	1326 1336 STRASSNER DRIVE L L C	20K310383
15-10569	1265 – 1300 STRASSNER DRIVE LLC	20K320553
15-10570	FRONTENAC GROVE L L C	20M430252
15-10571	SM PROPERTIES LADUE WEST L L C	20M440419
15-10572	LES TAYLOR INVCO INC MOCORP	20Q110046
15-10573	SM PROPERTIES WOODS MILL L L C	20Q110220
15-10574	GENERAL LAND &RACQUET SPORTSCORP	20Q420127
15-10575	K C PROPCO L L C	20R320073
15-10576	U-GAS STL HANLEY ROAD LLC	21J111661
15-10577	AUTOHAUS WEST INC	21J111717
15-10578	SUNQUAD CORPORATION	21J111946
15-10579	SUNQUAD LP A MISSOURI PARTNERSHIP	21J121383
15-10580	SUNQUAD LP A MISSOURI PARTNERSHIP	21j121394
15-10581	SUNQUAD LLLP	21J121415
15-10582	SUNCO LLC	21J130774
15-10583	SUNCO LLC	21J130884
15-10584	WMA GROUP LLC	21J141462
15-10585	MAPLE KING L L C	21J240774
15-10586	Rothschild Development Ltd	21J242372
15-10587	SUNQUAD LP A MO LP	21J410441
15-10588	SUNQUAD LLLP	21J410944
15-10589	SUNQUAD L P	21J411046
15-10590	Moops LLC	21J510961
15-10591	HOF LLC	21J512565
15-10592	HOF LLC	21J512576
15-10593	GBC ENTERPRISES LLC	21K110636
15-10594	GBC ENTERPRISES L L C	21K110672
15-10595	GBC ENTERPRISES LLC	21K130427
15-10596	GBC ENTERPRISES LLC	21K131215
15-10597	FROESEL CAROL CLOBES TRUSTEE	21K131260
15-10598	GBC ENTERPRISES	21K131361
15-10599	GBC ENTERPRISES LLC	21K131392
15-10600	ONT HOLDINGS LLC	21K140501
15-10601	OBRIEN TERRENCE R ETAL	21K140538
15-10602	OBRIEN TERRENCE R ETAL	21K140547
15-10603	HENSLEY PARTNERSHIP L L C THE	21K140565
15-10604	D T NEUNER L L C	21K210855
15-10605	2900 SOUTH BRENTWOOD LLC	21K210956
15-10606	TMD PROPERTY I L L C	21K220250
15-10607	615 DEVELOPMENT LLC	21K230352
15-10608	2722 SOUTH BRENTWOOD L LC	21K231283
15-10609	2726-2732 South Brentwood LLC	21K231294
15-10610	2726-2732 South Brentwood LLC	21K231306
15-10611	PIZZAZZ COMMERCIAL L L C	21K240106
15-10612	8500 MANCHESTER LLC TRUSTEE ETAL	21K240812
15-10613	DCD INVESTORS L L C ETAL	21K310241
15-10614	AUTOHAUS WEST INC	21K320965
15-10615	BICK MERCANTILE DRIVE LIMITEDPTNSP	21K331174
15-10616	RHEA JAMES W &M TRACEY H/W TRUSTEES	21K511714
15-10617	HAMPTON REALTYINC	21K620474
15-10618	KIVA GROUP INCTHE	21K631386
15-10619	BRIMER FAMILY L L C	21K640991
15-10620	MOOPS L L C	21L320984
15-10621	STANFORD COURT APTS L L C	21L321130
15-10622	SCOTT FREE LTD	21L321262
15-10623	GBC ENTERPRISES LLC	21L321295
15-10624	MCMANUS HOLDINGS LLC	21L321415
15-10625	FROESEL RONALD D     TRUSTEE ETAL	21L340124
15-10626	PRAS LLC	21L340490
15-10627	JCW INVESTMENTS LLC	21L340683
15-10628	ROEHM ALFRED      TRUSTEE ETAL	21L340849
15-10629	MAJ PROPERTIES LLC	21L340876
15-10630	ROEHM ALFRED      TRUSTEE ETAL	21L620707
15-10631	JAMPAC LLC	21O620030
15-10632	K C PROPCO L L C	21R441238
15-10633	BANYAN VENTURES L L C	21U120318
15-10634	BANYAN VENTURES L L C	21U120327
15-10635	MEW & EEW LLC	22J230152
15-10636	D F & H PROPERTIES MISSOURI GEN PTNSP	22J420683
15-10637	D F & H PROPERTIES MISSOURI GEN PTNSP	22J420793
15-10638	SUNQUAD LLLP	22J440274
15-10639	SUNQUAD L P	22J440285
15-10640	SUNQUAD L P	22J440296
15-10641	Big Bend Development Group	22J511466
15-10642	MORGNER DONALD J     TRUSTEE	22K110305
15-10645	DES PERES LAND COMPANY	22K320405
15-10647	SLACK FRANCIS G  JILL L  H/W TRUSTEES	22K511179
15-10648	ENTERPRISES BY YASOU L L C	22L440223
15-10649	M B VENTURES LLC	22L531220
15-10650	SEEGER NEW ORLEANS LP	22L540992
15-10651	NR INVESTMENTS L L C	22L541087
15-10652	BUCKS INC	22M130703
15-10655	DEAN TEAM L L C	22M331283
15-10656	MANCHESTER L LC	22M331294
15-10657	HIRTH WILLIAM K & ELEANOR P H/W TRS ETAL	22M420011
15-10658	LINCOLN INVESTMENT COMPANY	22M421212
15-10659	TALLBROOKE DES PERES LLC	22N231326
15-10660	BRIANN REALTY LP	22N410718
15-10661	LC REAL ESTATE LLC	22N421273
15-10662	DES PERES COMMONS L L C	22N510634
15-10663	DES PERES COMMONS L L C	22N510643
15-10664	D P S PLAZA MEMBERS L L C	22O230382
15-10665	D L F  D P S Q  L L C	22O230612
15-10666	FERGUSON DONALD L     ETAL	22O230630
15-10667	MOCAP LLC	22O410324
15-10668	ISLAND DREAMERS LLC A MO LIMITED LIABILI	22O620350
15-10669	ENERGY MARKETING 1877 LLC	22P110355
15-10670	SPEEDY CAR WASH LLC	22P120310
15-10671	BALDRIDGE MASON LLC	22P210253
15-10672	YANKEER LLC	22P220364
15-10673	YANKEER LLC	22P220373
15-10674	LN’L L L C	22Q110659
15-10675	WCS MANCHESTERLLC TRUSTEE ETAL	22R310511
15-10676	SUNTRUP WILLIAM N TRUSTEE ETAL	22R320475
15-10678	LEMON BUILDINGLLC	22T120013
15-10679	MOZINGO DON ALLEN & LENELLA DOROTHEA H/W	22T210727
15-10680	BUCKS INC	22T210736
15-10681	MOZINGO HOLDINGS L L C	22t210781
15-10682	ENTERPRISES BY YASOU L L C	22T210828
15-10683	BNAB ENTERPRISES LLC	22T231223
15-10684	CLARKSON CLAYTON CEN ASSOC JTVENTURE	22T420304
15-10685	JPC PROPERTIES L C	22V120208
15-10688	SFC PROPERTIES LLC ETAL	23K630981
15-10689	BIG BEND PARTNERSHIP	23K631102
15-10690	BIG BEND PARTNERSHIP	23K631124
15-10691	LAYTON FAMILY LLC	23K640724
15-10692	PIZZAZZ COMMERCIAL LLC	23M120361
15-10693	ASGARD PARTNERSHIP  A MOGEN PTNSP	23M120408
15-10694	STEINER SUZANNE H TRUSTEE ETAL	23M120453
15-10695	PIZZAZZ COMMERCIAL LLC	23M120509
15-10696	KIRKWOOD HOUSING PARTNERSHIP A MO GENERA	23M120875
15-10697	ASGARD PARTNERSHIP A MO GEN PTNSP	23M121113
15-10698	KIRKWOOD HOUSING PARTNERSHIP	23M121151
15-10699	PIONEER LAND LLC	23M140455
15-10702	SUNTRUP WILLIAM N TRUSTEE ETAL	23Q431317
15-10703	SUNTRUP WILLIAM N TRUSTEE	23Q431371
15-10704	THOMAS NELLIE M     TRUSTEE ETAL	23Q431564
15-10705	1011 BUILDING INC	23Q510517
15-10706	Signs of Snowmass LLC	23Q530665
15-10707	MARQUART DUANE J  ELAINE   H/W	23Q540419
15-10708	TAYCO OLD ORCHARLD JUNIOR L C	23Q630194
15-10709	BERNAY REALTY L L C	23R540786
15-10710	DOUROS IRENE V TRUSTEE	23R540896
15-10712	ALS PROPERTY HOLDINGS LLC	23S430275
15-10713	DAU THE HOUSE FURNISHER INCORPORATED	23S440164
15-10714	U-GAS STL BALLWIN LLC	23S540514
15-10715	U S BANK N A	23S540660
15-10716	POSTOL PROPERTIES LLC	23S540725
15-10717	FRISELLA PROPERTIES L L C	23S640254
15-10718	ILLINOIS STATETRUST CO ACORP IL	23T440141
15-10719	MIDWEST EQUITIES INC	23T530862
15-10720	Clarkson Manchester LLC	23T531023
15-10721	M G M GIBSON ENTERPRISESINC	23T640396
15-10722	ESSEN DONALD F     TRUSTEE	23T640495
15-10723	MCW RD WILDWOOD CROSSING LLC	23U120480
15-10724	ELECTRO SAVINGS CREDIT UNION	23U120509
15-10725	WESTWOODS CENTER III L L C A MISSOURI LI	23U331031
15-10726	SPENCER PROPERTIES L L C	23U340132
15-10727	R & M PARTNERSHIP	23U340161
15-10729	MONOLO TIMOTHY C	23U640432
15-10730	FRONTIER PETRO LLC	23V120083
15-10731	WAYSIDE MOTEL INCORPORATED	24K340762
15-10732	WAYSIDE MOTEL INCORPORATED	24K340872
15-10733	L C L B INVESTMENTS L L C	24L610752
15-10734	DANCO ENTERPRISES L L C	24M110965
15-10735	DANCO ENTERPRISES L L C	24M110974
15-10736	STOUT EVERETT   JUDITH   H/W	24M111087
15-10737	STOUT EVERETT F  JUDITH K  H/W	24M111098
15-10738	STOUT EVERETT F  JUDITH K  H/W	24M111102
15-10739	MUCKLER NUTRITION INC	24M120737
15-10740	KOP LLC	24M121121
15-10741	UHLEMEYER GARY G     TRUSTEE	24M121174
15-10742	UHLEMEYER GARY G     TRUSTEE	24M121240
15-10743	KIRKWOOD OFFICE PROPERTIES LLC	24M141352
15-10744	RRS REAL ESTATE HOLDINGS LLC	24M240150
15-10746	NERI L L C	24M441928
15-10747	J C L B INVESTMENTS L L C	24M441937
15-10748	CROONER  LLC	24M443177
15-10749	MCDONALDS REAL ESTATE COMPANY	24M443199
15-10750	RRS REAL ESTATE HOLDINGS LLC	24M520834
15-10751	ST LOUIS CAR WASH PROPERTIES LLC	24P210150
15-10754	MONOLO REAL ESTATE LLC	24R310931
15-10755	AEI INCOME & GROWTH FUND XXI LIMITED	24S320793
15-10756	AFFTON GRAVOISL L C	25H131033
15-10757	NAYR PROPERTIES L L C	25J210069
15-10758	GORDON JOHN D	25J221704
15-10759	ELLSWORTH BREIHAN BUILDING COMPANY	25K530960
15-10760	MCW R D CRESTWOOD COMMONS LLC	25L140562
15-10761	STELMACH PROPERTIES LLC	25L610247
15-10762	U GAS STL SUNSET HILLS LLC	25M110043
15-10763	LUTHERAN CHURCH EXTENSION FUND-MO SYNOD	25M130645
15-10764	NISMARK L L C	25M141544
15-10765	SYBERGS WATSON PROPERTY L L C	25M220634
15-10766	WESTMOOR INVESTMENTS LLC	25M340031
15-10767	WESTMOOR INVESTMENTS LLC	25M340042
15-10768	ODONNELL FRANCIS E JR & KATHLEEN E H/W	25M442623
15-10769	ODONNELL FRANCIS E JR & KATHLEEN E H/W	25M442632
15-10770	ODONNELL FRANCIS E JR & KATHLEEN E H/W	25M442683
15-10771	JONES JOHN M  DIXIE L  H/W	25O310131
15-10772	WULFERS FAYE FRANCINE TRUSTEE	25O330063
15-10773	BOHN & DAWSON INCORPORATED	25O420054
15-10774	Edinburgh Limited	25O420285
15-10775	C J D S  INVESTMENTS LLC	25O420351
15-10776	SAUER PROPERTIES II L L C A MO LIMITED L	25O420362
15-10777	GW MANAGEMENT GROUP L L C	25Q640214
15-10778	POOLED ASSETS LLC	26H520625
15-10779	Pulaski Bank	26H520634
15-10780	MACKENZIE OFFICE PARTNERSLLC	26J231652
15-10781	MACKENZIE OFFICE PARTNERSLLC	26J231674
15-10782	MACKENZIE OFFICE PARTNERSLLC	26J231685
15-10783	MACKENZIE OFFICE PARTNERSLLC	26J231696
15-10784	MACKENZIE OFFICE PARTNERSLLC	26J231704
15-10785	MACKENZIE OFFICE PARTNERSLLC	26J231713
15-10786	MACKENZIE OFFICE PARTNERSLLC	26J231722
15-10787	MACKENZIE OFFICE PARTNERSLLC	26J231731
15-10788	MACKENZIE OFFICE PARTNERSLLC	26J231740
15-10789	MACKENZIE OFFICE PARTNERSLLC	26J231751
15-10790	MACKENZIE OFFICE PARTNERSLLC	26J231762
15-10791	MACKENZIE OFFICE PARTNERSLLC	26J231773
15-10792	MACKENZIE OFFICE PARTNERSLLC	26J231784
15-10793	MACKENZIE OFFICE PARTNERSLLC	26J231795
15-10794	MACKENZIE OFFICE PARTNERSLLC	26J231805
15-10795	MACKENZIE OFFICE PARTNERSLLC	26J231814
15-10796	MACKENZIE OFFICE PARTNERSLLC	26J231823
15-10797	NAYR PROPERTIES L L C	26J511558
15-10798	NAYR PROPERTIES L L C	26J531930
15-10799	MCW- RD AFFTON PLAZA LLC	26K640422
15-10800	SVS LLC A MO LTD LIAB CO	26M420662
15-10801	ADAMS PROPERTIES L L C	26M440352
15-10802	LINDBERGH INVESTMENTS LLC	26M441089
15-10803	SUNSET VILLAGE CONDOMINIUM LLC	26M441133
15-10804	SUNSET VILLAGE CONDOMINIUM LLC	26M441144
15-10806	KEN ENTERPRISES L P	26O110251
15-10807	U GAS INVESTMENTS BOLGER COURT LLC	26O120371
15-10808	BROTCKE JACKLYN K     TRUSTEE	26O210351
15-10809	Merus Corporation	26O210395
15-10810	FENTON REALTY L P	26O210616
15-10811	Lawlor Land Company	26O220433
15-10812	507 RUDDER ROAD L L C	26O310132
15-10813	RBS INVESTMENTS OF MISSOURI LLC	26O641353
15-10814	1800 BOWLES AVE L L C	26P310405
15-10815	1800 BOWLES AVE L L C	26P310414
15-10816	PEBCAK L L C	26P320415
15-10818	MERAMEC STATION HOLDINGS LLC	26Q620752
15-10819	MCHUGH STEVEN R  SUSAN M  H/W	26Q630818
15-10820	224 MERAMEC STATION L L C	26Q641032
15-10821	PRIMARY LEASING L L C	27H110755
15-10822	HILL JOSEPH C  VIRGINIA M  H/W TRUSTEES	27H120417
15-10823	ALS PROPERTY HOLDINGS LLC	27H221097
15-10824	ALPHA CEMENT PROPERTY ACQUISITION CO	27J110147
15-10825	ALPHA CEMENT PROPERTY ACQUISITION CO	27J110257
15-10826	BUDROVICH REAL ESTATE L L C	27J130091
15-10827	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J210050
15-10828	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J210061
15-10829	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J210126
15-10830	BUDROVICH REALESTATE L LC	27J210137
15-10831	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J230663
15-10832	HENDRICKSON JOHN L  BILLIE D  H/W TRUSTE	27K120035
15-10833	NICO PROPERTIES I L L C	27L310730
15-10834	NICO PROPERTIES I L L C	27L310741
15-10835	STUHLMANN SHIRLEY V     TRUSTEE	27L410566
15-10836	LUEDDE JAY CLARKSON TRUSTEE	27L410904
15-10837	STOTLER WAYNE   DAWN   H/W	27L530664
15-10838	CONKLIN FLOYD D LIVING TRUST	27M340660
15-10839	CONKLIN FLOYD D LIVING TRUST	27M340671
15-10840	CONKLIN FLOYD D LIVING TRUST	27M340682
15-10841	CONKLIN FLOYD D LIVING TRUST	27M340693
15-10842	KELLY ROBERT J     TRUSTEE	27M340707
15-10843	JD ASSOCIATES A MO PTNSP	27M340716
15-10844	CONKLIN FLOYD D LIVING TRUST	27M340734
15-10845	CONKLIN FLOYD D LIVING TRUST	27M340743
15-10846	CONKLIN FLOYD D LIVING TRUST	27M340752
15-10847	CONKLIN FLOYD D LIVING TRUST	27M340761
15-10848	CONKLIN FLOYD D LIVING TRUST	27M340770
15-10849	FANGER & ASSOCIATES L L C	27O420056
15-10850	GARRETT PROPERTIES L L C	27O440212
15-10851	GGJB PROPERTIES L L C	27O510092
15-10852	CHAPTER 100 ST LOUIS COUNTY MISSOURI	27O510135
15-10853	STARHILL ACRES LLC	27O520079
15-10854	LONGWOOD HOLDINGS LLC	27O520123
15-10855	APPRILL JAMES H     TRUSTEE	27O520134
15-10856	B & J FAMILY LIMITED PARTNERSHIP	27O530364
15-10857	Equipment Leasing Company	27O540165
15-10858	CLAYTON CORPORATION OF DELAWARE	27O610466
15-10859	STARHILL ACRES LLC	27O610565
15-10860	STARHILL ACRES LLC	27O610642
15-10861	WCS Headland LLC	27O640276
15-10862	NR PROPERTIES LLC	27O640331
15-10863	R V B & ASSOCIATES L L C	28H221625
15-10864	RVB & ASSOCIATES L L C	28H221634
15-10865	RUZICKA THOMAS C  LYNNE M  H/W	28J340345
15-10866	BUDROVICH REAL ESTATE L L C	28J440391
15-10867	STL WAREHOUSING L L C	28J440467
15-10868	BREIHAN-SWANSON INC	28J530238
15-10869	NO 6 LLC A MISSOURI LIMITED LIABILITY CO	28K320126
15-10870	BI-STATE ASSOCIATES L L C	28K320171
15-10871	BI-STATE ASSOCIATES L L C	28K320225
15-10872	FOREST PARK R E LIMITED PARTNERSHIP	28K320236
15-10873	ACROPOLISPM LINDBERGH LLC	28K330246
15-10874	MUNGENAST DAVID F TRUSTEE	28K330301
15-10875	MUNGENAST DAVID F TRUSTEE	28K330334
15-10876	RAMSEY & ROMINE L L C	28K340597
15-10877	RAMSEY & ROMINE L L C	28K340603
15-10878	11555 CONCORD VILLAGE LLC	28K430214
15-10879	MUNGENAST DAVID F & BARBARA J H/W TRS	28K520953
15-10880	LC REAL ESTATE LLC	28K611011
15-10881	LC REAL ESTATE LLC	28K611077
15-10882	11049 LIN VALLE DRIVE LLC	28K620251
15-10883	SEIBEL PROPERTIES L L C	28L612660
15-10884	Ariel Investment LLC	28L640324
15-10885	10550 BAPTIST CHURCH PLAZA LLC	28L640500
15-10886	RICHARD ENTERPRISES II L L C	28M110402
15-10887	L A J HOLDINGS L  L C	28M110442
15-10888	V F P REALTY INC	28M130143
15-10889	FINNEY MICHAEL B & MEGAN A H/W	28N110551
15-10890	FIESER SERVICES INC	28N111101
15-10891	MAURER DEVELOPMENT COMPANY	28N610138
15-10892	MAURER DEVELOPMENT CO	28N631193
15-10893	MAURER DEVELOPMENT COMPANY	28N631203
15-10894	Midwest Bankcentre	28P540770
15-10895	U-GAS INVESTMENTS BOWLES AVENUE LLC	28P630497
15-10896	MARLBOROUGH DEVELOPMENT LL C	29H210303
15-10897	HOUSE VERNON L TRUSTEE	29J420570
15-10898	Southern Commercial Bank	29J430612
15-10899	H & E COMPANY LLC	29J430678
15-10900	BALDRIDGE LAUBER PROPERTIES A MISSOURI G	29J430700
15-10901	HENDRICKSON JOHN L  BILLIE D  H/W TRUSTE	29J530097
15-10902	NO 3 L L C	29K310096
15-10903	EXECUTIVE PROPERTIES I LLP	29K310117
15-10904	NO 3 L L C A MISSOURI LIMITED LIABILITY	29K322228
15-10905	NO 3 LLC	29K322273
15-10906	ACROPOLISPM CRESCENT LLC	29K621099
15-10907	U GAS STL TOWNE SOUTH LLC	29L140201
15-10908	VOSS FAMILY LIMITED PARTNERSHIP NO 1 L P	29L140531
15-10909	LAMPLIGHTER SQUARE LLC	29L420369
15-10910	LAMPLIGHTER SQUARE LLC	29L420370
15-10911	U S BANK N A	29V520269
15-10912	U S BANK N A	29V520588
15-10913	PDF LLC	29V611008
15-10914	DUNLEITH HOLDINGS LLC	29V611020
15-10915	RAINBOW FINISHES INC	29W510160
15-10916	R J THROCKMORTON SALES CO INC	29W530146
15-10917	TAYCO TELEGRAPH ROAD L L L P	30H111688
15-10918	KC PROPCO HOLDING I L L C	30H410952
15-10919	MCW RD BUTLER HILL CENTRE LLC	30K130300
15-10920	LUKETICH INC	30K210747
15-10922	TRB MAB INVESTMENTS LLC	30L130080
15-10923	MANNION GROUP V LLC TRUSTEE ETAL	30L140247
15-10924	TESSON FERRY PROPERTY L L C	30L430014
15-10925	CUNA MUTUAL INVESTMENT CORPORATION	30V610151
15-10926	U S BANK N A	31H131029
15-10927	OTTO PARTNERSHIP THE	31H411024
15-10928	NJB INVESTMENTS L L C	32H430475
15-10929	NJB INVESTMENTS L L C	32H430484
15-10930	BUCKS INC	32H430631
15-10931	JERRY MICHEL INC	32H430705
15-10932	K C PROPCO L L C	32J640462
15-10933	DLM PROPERTIES L L C	32K130555
15-10934	BELSAR HOLDINGS L L C	32K210152
15-10935	SPECTRUM CLEANING SERVICES INC	32K240124
15-10936	MERAMEC BOTTOM PROFESSIONAL SUITES	32L230362
15-10937	Southern Commercial Bank	32L240318
15-10938	A 1 LOCKER RENTAL SELF STORAGE L L L P	32L240354
15-10939	A-1 LOCKER RENTAL SELF-STORAGE LLLP	32L240693
15-10940	U GAS STL TELEGRAPH & SUSAN LLC	33H430144
15-10941	NATURE GIFTS INC	33H430621
15-10943	PIPEFITTERS WELFARE EDUCATIONAL FUND	07D220058
15-10944	PIPEFITTERS WELFARE EDUCATIONAL FUND	07D420104
15-10945	PIPEFITTERS WELFARE EDUCATIONAL FUND	07D520039
15-10948	Flower Valley LLC	07H530254
15-10950	FLAGG BROADWAY L L C	07J310305
15-10957	12100 BELLEFONTAINE LLC	08E520699
15-10960	PADDOCK FOREST L L C	08F640356
15-10972	BZ PROPERTIES LLC	08J230369
15-10973	Ariel Investment LLC	08J230912
15-10974	BEHLMANN HARRY E & BARBARA M TRUSTEES	08J411386
15-10975	LEWIS & CLARK MERCANTILEBANK	08J430493
15-10976	AUTO PROPERTIES L L C	08J531077
15-10979	PARK 370 L L C	08M120081
15-10983	TRIPLE J PROPERTIES L L C	09G110079
15-10984	Sanat LLC	09G220574
15-10985	F O C I ENTERPRISE L L C	09H340330
15-10986	F O C I ENTERPRISE L L C	09H340341
15-10989	DUNWOOD DEVELOPMENT COMPANY	09K130083
15-10990	DUNWOOD DEVELOPMENT COMPANY AGEN PTNSP	09K140400
15-10994	LYNCH JAMES R TRUSTEE (LEASE PROPERTY)	09K410440
15-10995	NIKNEJADI JOSEPH H ETAL	09K430899
15-10998	OLIAN H IRVING ETAL	09K441008
15-11005	LC REAL ESTATE LLC	09M620351
15-11006	GREEN POINT L L C A MO LTD LIABILITY COM	09O110399
15-11010	ROLAND PROPERTIES AN ILLINOISL L C	09O230178
15-11011	R T GROUP II L L C	09O230190
15-11012	BRIDGETON PROPERTIES L L C	09O330113
15-11018	PIPEFITTERS WELFARE EDUCATIONAL FUND	10E340593
15-11019	PIPEFITTERS ASSOCIATION LOCAL UNION NO 5	10E340603
15-11022	LC REAL ESTATE LLC	10G440420
15-11023	ALBERTA PROPERTIES 1120 L L C	10J331414
15-11034	Midwest Petroleum Company	10M330270
15-11036	SELECT PROPERTIES INC	10M530122
15-11040	JASSO JOSEPH J	10M610374
15-11042	NETWORKS USA XVIII INC  AFL CORP	10N120254
15-11043	STARHILL ACRES LLC	10N140155
15-11046	FRONTENAC INVESTORS INC	10O120136
15-11050	MIDWESTERN CORPORATION ETAL	10O420133
15-11051	MIDWESTERN CORPORATION ETAL	10O420142
15-11054	RIVERPORT PROJECT TRUST BOARD OF TRUSTEE	10P220017
15-11056	BRIEM JAMES J	10P240129
15-11058	NEW AGE HOLDINGS LLC	10P340119
15-11059	BANYAN VENTURES LLC	10P620172
15-11060	K 2 DEVELOPMENT L L C	10P620215
15-11062	P GUO L L C	10P640071
15-11064	U S BANK N A	11J341102
15-11067	MARR I LLC	11N320921
15-11074	MACHINISTS DIST NO 9 BLDGCORP	11N531011
15-11084	U S BANK NATIONAL ASSOCIATION	11O530161
15-11085	International Assn Ht & Fr Insu & Asb	11O620174
15-11090	BOARD OF TRUSTEES OF THE RIVERPORT PROJE	11P320161
15-11095	NGUYEN JAKE  &  AMANDA H/W	12G110134
15-11096	NGUYEN JAKE  &  AMANDA H/W	12G110143
15-11097	MCDONALDS REAL ESTATE CO	12G130080
15-11098	MCDONALDS CORPORATION	12G130484
15-11113	FOCI Enterprise LLC	12H430033
15-11114	HELLENIC INVESTMENT GOURPLLC	12K110483
15-11115	CHARLES F VATTEROTT COMMERCIAL	12L110901
15-11120	3715 LINDBERGH ASSOCIATES L P	12M141124
15-11121	TSMD PROPERTIES LLC	12M230084
15-11126	J & T INVESTMENT CO	12M421671
15-11130	Fred Weber Inc	12O130025
15-11131	Fred Weber Inc	12O130456
15-11132	SERRA ONOFRIO & LUCREZIA H/W TRUSTEES	12O611331
15-11133	SERRA ONOFRIO & LUCREZIA H/W TRUSTEES	12O620076
15-11134	LYNNMARK INC	13G311617
15-11135	MCDONALDS SOUTH FLORISSANT ROAD DEVELOPM	13H130521
15-11136	NORWOOD HILLS CORPORATION	13H240017
15-11137	NORWOOD HILLS CORPORATION	13H240255
15-11138	NORWOOD HILLS COUNTRY CLUB	13H520232
15-11139	NORWOOD HILLS CORPORATION	13H610043
15-11140	SPRINGDALE MOTEL INC	13J110298
15-11144	RENEHAN RAYMOND P	13K620181
15-11145	LEDERER GAIL ETAL	13L311057
15-11149	ZEGAR ERNESTINE B	13L421604
15-11151	VATTEROTT CHARLES F COMMERCL PROP INC	13L430781
15-11153	CHARLES F VATTEROTT COMMERCIAL	13L430817
15-11156	CHARLES F VATTEROTT COMMERCIAL PROPERTIE	13L431078
15-11165	T & C PROPERTIES LLC	13M440680
15-11166	SCHMITT DANIEL J TRUSTEE ETAL	13M440727
15-11168	WHITAKER BOB ETAL	13N110782
15-11169	NOWACK STANLEY B  KATHLEEN M H/W	13N130573
15-11178	CENTERLINE INVESTMENT COMPANY1 LLC	14N130215
15-11185	BOMAC INVESTMENT COMPANY INC	14N340618
15-11187	KERLS JACK W  JUDITH F  H/W TRS ETAL	14N420844
15-11195	KIMLER BUILDING & DEV COLLC	14O320394
15-11204	ALBERTA PROPERTIES 6230 L L C	15G112065
15-11218	GMK HOLDINGS LLC	15L630048
15-11219	MILLER DONALD C TRUSTEE	15M220088
15-11222	CENTERLINE INVESTMENT COMPANY3 LLC	15M410092
15-11223	BORMAN CIRCLE ASSOCIATESL L C	15N122374
15-11225	REALVEST PROPERTIES LC	15N130131
15-11237	RUDER GARY E TRUSTEEE	15N440212
15-11240	FSP LAKESIDE CROSSING II LLC	15N542310
15-11241	FSP LAKESIDE CROSSING I LLC	15N542321
15-11246	A V VENTURES L L C	15O340461
15-11251	Century Life of America	15O640341
15-11257	WALLACH ALAN &SHARON SUE H/W	16H230233
15-11258	WALLACH ALAN &SHARON SUE H/W	16H230251
15-11259	SHARAL INVESTMENTS LLC	16H411825
15-11261	MIDWEST ST LOUIS L L C	16J420259
15-11263	WOODSON LLC	16K410149
15-11271	MURPHY GROUP HOLDINGS INC	16L240077
15-11272	MURPHY GROUP HOLDINGS INC	16L240132
15-11276	LOTSIE CORPORATION	16L430674
15-11282	JSR LLC	16M520170
15-11283	MEAD MOR INVESTMENTS L C	16M530036
15-11285	MEAD MOR INVESTMENTS L C	16M540123
15-11288	R J R COMPANY,A JOINT VENTURE	16M610215
15-11289	MAVICE ENTERPRISES L L C	16M610248
15-11297	KYMO PROPERTIES INC	16M640278
15-11298	ALLIANCE EQUITIES PARK 270 L L C	16O540484
15-11304	KARAGIANNIS INVESTMENT CORPORATION	16Q310186
15-11305	GERSHMAN BETTIE      TRUSTEE	16Q331020
15-11307	WOODCHASE PLAZA L L C	16Q340820
15-11308	KNOLL W EDWARD& CHRISTINE M H/W	16R320957
15-11309	VI JON LABORATORIES INC	17H122982
15-11310	VI JON LABORATORIES INC	17H141691
15-11311	MCCARTHY EDWARD J & MARGARET G REVOC	17J321843
15-11314	RUDER DEVELOPMENT CO L L C	17L530467
15-11316	U S BANK N A	17L540642
15-11319	10510 OLD OLIVE L C	17M430267
15-11333	Olde Cabin Holding LLC	17N140350
15-11335	ANIMAL SKIN CLINIC LLC THE	17N510555
15-11342	FORSYTH INVESTMENTS LLC	17O331155
15-11347	OLD BALLAS PEDIATRIC DENTISTRY LLC	17O342122
15-11348	OLD BALLAS PEDIATRIC DENTISTRY LLC	17O342133
15-11355	WESTGATE CENTRE L L C	17O440550
15-11358	AR INVESTMENTS LLC	17O440792
15-11363	ROBERTS SUSAN	17O620950
15-11364	CP NORTH II LLC	17O621038
15-11368	Maisha LLC	17R320493
15-11369	DCH  LLC	17S110136
15-11371	MUTTERSOHN LLC	17T240166
15-11372	CONSORT COMMERCIAL GROUP L L C  ETAL	17T310434
15-11373	CHESTERFIELD GROVE DEVELOPMENT L L C	17T330081
15-11374	GROVE V LLC	17T330092
15-11377	BURGUNDY ARROWLLC	17U230320
15-11379	THREE 5S4 ANASTASIA LLC	17V110441
15-11380	Spirit Aviation Properties LLC	17V120088
15-11381	HOFFMANN EARL R	17V120165
15-11384	AVMATS EXECUTIVE AIR CHARTER LLC LESSEE	17V130230
15-11386	EDISON INVESTORS L L C	17V210079
15-11388	INSITUFORM TECHNOLOGIES LLC	17V220221
15-11392	INSITUFORM TECHNOLOGIES LLC	17V240304
15-11396	CHESTERFIELD VALLEY LLC	17V510038
15-11397	NINE EAST LLC	17V510214
15-11398	EIGHT EAST L L C	17V510258
15-11399	EIGHT EAST L L C	17V510302
15-11402	CENTURION INVESTMENT INCLESSEE	17W320522
15-11405	FORDYCE PROPERTIES LLC	18H410145
15-11409	C & J MANAGEMENT L L C	18J130521
15-11410	Hammond Sheet Metal Company	18J521329
15-11414	ROTHSCHILD ASSOCIATED LLC	18K310283
15-11416	7801 FORSYTH L L C	18K320479
15-11418	7800 MARYLAND L L C	18K320710
15-11419	MARYLAND AVENUE ASSOCIATES LLC	18K320798
15-11420	7 & 9 NORTH BEMISTON L L C	18K320952
15-11421	GJO PROPERTIES L L C	18K330478
15-11429	DELMAR GARDENSAT CONWAY RIDGE L L C	18R110837
15-11430	EMERALD I L L C ETAL	18S230181
15-11432	T G RANKIN COMPANY INC	18U430114
15-11435	JSB CLAYTON L L C	19K220666
15-11436	ST CLAIR INVESTMENT COMPANY	19K231039
15-11438	VARWIG STEPHEN D  FAITH A  H/W	19K320458
15-11439	VARWIG FAITH ADELE	19K320623
15-11442	TWO THIRTY SOUTH BEMISTON ASSOC	19K640536
15-11443	BURCH PROPERTIES INC A MISSOURI CORP	19K640734
15-11444	TWO THIRTY SOUTH BEMISTON ASSOC	19K641416
15-11445	TWO THIRTY SOUTH BEMISTON ASSOC	19K641427
15-11446	EPM CARONDELET LLC	19K641449
15-11447	EPM CARONDELET LLC	19K641450
15-11449	LADUE MARKET INC	19L330160
15-11450	MELROSE FAMILY LLC THE	19L330171
15-11453	MILLER MISS PAC L L C	19M310512
15-11454	MILLER MISS PAC L L C	19M321271
15-11455	FRC CLUB LLC	19M411459
15-11456	FRC CLUB LLC	19M411482
15-11457	CAMPBELL RICHARD A & DOXEY S H/W	19M421151
15-11461	OLD FRONTENAC SQUARE L L C	19M421535
15-11462	JOE GARAVELLI’S CAFETERIAINC	19M441016

 

 

[1] The decision addresses 988 appeals.  A complete list of appeals is attached as Decision Exhibit A.

[2] Two sets of Complainants presented evidence at the hearing as to the ratio of assessment of Commercial properties.  The groups were labeled by the parties for ease of reference as “PAR” Complainants and “Sansone” Complainants.  Complainants in the instant appeal are in the “PAR” group.  Exhibits filed on behalf of Sansone group are listed at the end of this Decision and Order.

[3] IAAO is the acronym for the International Association of Assessing Officers.  Its members include government assessment officials and others interested in the administration of the property tax.  They provide education, resources and standards for ad valorem taxation.

[4] The STC conducted its own certified ratio study in St. Louis County in 2015.  With regard to commercial property in St. Louis County, the STC’s ratio study reported a median of 30.21%.  In a parallel set of appeals (clients of Sansone) on which the evidence was presented simultaneously with the evidence in Complainant’s case, another expert in the field of appraisal, mass appraisal, and assessment ratio studies, Robert Gloudemans (Gloudemans) testified.  Goudemans conducted a ratio study for commercial assessments in St. Louis County in 2015 that reported a median assessment ratio of 30.7%.

 

[5] The percentage difference between 32% and 31% is calculated by first determining the mathematical difference between the two percentages being compared, then dividing the result by the original number, then multiplying the answer by 100:  32-31 = 1; 1/32 = .03125; .03125×100 = 3.125 or 3%.

State Tax Commission of Missouri

 

FOCI ENTERPRISE, LLC, et al,	)
	)
Complainant,	)	Appeal Nos.	15-10103 et al[1]
	)
v.	)
	)
JAKE ZIMMERMAN, ASSESSOR	)
ST. LOUIS COUNTY, MISSOURI,	)
Respondent.	)

 

 

DECISION AND ORDER

 

HOLDING

 

Complainants failed to present substantial and persuasive evidence that there was an intentional plan by the assessing officials to assess the properties under appeal at a ratio greater than 32% of true value in money or at a ratio grossly excessive to the average 2015 commercial assessment ratio for St. Louis County.

Complainant appeared by Patrick Keefe.

Respondent appeared by Jeremy Shook.

Case heard and decided by Chief Counsel Maureen Monaghan. (Hearing Officer)

ISSUE

The Commission takes this appeal to determine whether there was an intentional plan by the assessing officials to assess the properties under appeal at a ratio greater than 32% of true value in money, or at a ratio grossly excessive to the average 2015 commercial assessment ratio for St. Louis County.

FINDINGS OF FACT

1. 1. Jurisdiction. Jurisdiction over this appeal is proper.  Complainant timely appealed to the STC.
2. Evidentiary Hearing. The issue of commercial ratio was presented at an evidentiary hearing on March 13-14, 2017, at 7733 Forsyth, Clayton, Missouri.
3. Identification of Subject Property. A complete list of properties identified by parcel number is attached to the Decision as Decision Exhibit A.

4 .        Assessment.  Respondent determined a TVM for the subject properties and  classified them as commercial.  Respondent assessed them at the statutory commercial rate of 32% of TVM.

5. Board of Equalization. On September 18, 2015, the BOE notified the property owner that it “reviewed all evidence submitted regarding [the property] and … determined the valuation of [the subject] property for 2015…”. The property was classified as commercial. The assessed value was set at an assessment ratio consistent with the statutory commercial assessed ratio of 32%.
6. Discrimination. Complainant failed to present substantial and persuasive evidence that there was an intentional plan by the assessing officials to assess property at a ratio greater than 32% of true value in money or at a ratio grossly excessive to the average 2015 commercial assessment ratio for St. Louis County.

EVIDENCE PRESENTED

The issue of commercial ratio was presented as to all commercial ratio appeals at an evidentiary hearing on March 13-14, 2017, at 7733 Forsyth, Clayton, Missouri.

Level of Assessment – Ratio Studies

Each party presented an expert in the field of appraisal, mass appraisal, and assessment ratio studies (Exhibits A and 1) as well as the experts’ study on the commercial assessments in St. Louis County for 2015 (ratio study) (Exhibits C and 2).  Ratio studies provide information regarding the level and equity of assessments.  Studies use a statistically significant number of properties and compare an assessor’s value for those properties to a market value proxy for those properties.  The market value proxy is either the sale prices of properties in the jurisdiction within a relevant time period or an independent appraisal of randomly selected properties.   In this appeal, the ratio studies utilized recent sales.  In the studies, the experts use the following terms:

• Appraisal Level: Overall ratio of assessor’s values to market values. Level measurements provide information about the degree to which goals or legal requirements are met. Estimates of appraisal level are based on measures of central tendency.
• Assessed Value: Legally authorized fraction of market value.
• Assessment: Determination of true value, classification and location within taxing districts for ad valorem taxation.
• Coefficient of Dispersion (COD): It measures the average percentage of deviation of the ratios from the median ratio. A lower COD implies a lesser amount of variability or more equity in assessments.
• Computer-Assisted Mass Appraisal (CAMA): A process that uses a system of integrated components and software tools necessary to support the appraisal of a universe of properties through the use of mathematical models that represent the relationship between property values and supply/demand factors.
• Equalization: The process by which an appropriate governmental body attempts to ensure that property under its jurisdiction is assessed at the same assessment ratio or at the ratio or ratios required by law.
• Mean: The arithmetic average.  It is created by adding together all individual samples and dividing by the number of samples.
• Median: The middle observation when the values of the data are arrayed. It divides the data into two parts.
• Price-Related Bias (PRB): It is used to measure assessment equity (regressivity/progressivity). It measures the relationship between assessment-sales ratios and value in percentage terms. For example, a PRB of .05 indicates that, on average, assessment ratios increase by 5% whenever values double.
• Price Related Differential (PRD): It is calculated to measure assessment regressivity or progressivity. It is found by dividing the mean by the weighted mean. The comparison tests for equity between low value properties and high value properties.  A PRD above 1.00 suggests that the assessment values placed on high-value parcels are relatively lower than the assessment values placed on low-value parcels.
• Progressivity: Taxation is imposed in such a manner that the tax rate decreases as the amount subject to taxation decreases.
• Ratio Study: Sales or appraisal based study designed to evaluate appraisal performance to determine if statutory requirements are met. Studies can be used to evaluate the degree of discrimination and to adjust assessed values on appealed properties to the common level.
• Regressivity: Taxation is imposed in such a manner that tax rate decreases as the amount subject to taxation increases.
• True Value in Money: Also referred to as appraised value, market value, or fair market value.
• Weighted mean: It is the sum of the assessed values divided by the sum of the individual indicators of market value.

2015 St. Louis County Commercial Ratio

            The Complainants^[2] filed the BOE Decision for each parcel subject to this Decision along with the following Exhibits, which were admitted into evidence:

Exhibit	Description
A	Written Direct Testimony of Robert Denne
B	CV of Robert Denne
C	Assessment Ratio Study
D	Written Direct Testimony of Timothy Schoemehl
E	Qualifications of Timothy Schoemehl
F	CD ROM St Louis County Assessment Roll
G	CD ROM St Louis County Assessment Roll 2016
H	Excel File – Commercial Sales 2014 – 2015 (on CD)
I	Excel File – Revised Sales List(on CD)
J	Excel File – Stratum Codes(on CD)
K	PDF Locator – Neighborhood Chart(on CD)
L	Real Estate Data Extract
M	Excel File – ComlOnlySalesWork data file (on CD)
N	Excel File – Supplemental List for Tim (on CD)
O	Commercial Sales Review Form
P	Codes
Q	CD ROM Deed Images from Metropolitan Title Data, Inc
R	DVD-ROM Assessor’s Certificates of Value (2014 & 2015)
S	DVD-ROM Assessor’s Sales Research Packages (2014)
T	DVD-ROM Assessor’s Sales Research Packages (2015)
U	Excel File Worksheet Draft 9-7-2016 (on CD)
V	Validated Sales from Tim (on CD)
W	Validated Sales from Tim with trim notes (on CD)
X	IAAO Standard on Ratio Studies 2013 (on CD)
Y	IAAO Standard on Verification and Adjustment of Sales (on CD)
Z	STC Assessor Manual, Chapter 4, Ratio Studies (2016) (on CD)
Rebuttal
AA	Rebuttal Report of Robert C. Denne
BB	Written Direct Testimony of Robert C. Denne
Surrebuttal
CC	Written Direct Testimony of Timothy Schoemehl
DD	Sales Verification Questionnaire – 21 N. Meramec
EE	Sales Verification Questionnaire – 32K130454
FF	Real Estate Information 12M330315
GG	Article dated May 1-7, 2015
HH	Commercial Sales Summary
II	Real Estate Information 16H421088
JJ	Sales Verification Questionnaire
KK	Press Release
LL	Press Release
MM	Deed
NN	Phillips Edison SEC Report
OO	Written Direct Testimony of Robert C. Denne
PP	Study using pre-BOE valuations
QQ	Study using pre-BOE valuations
RR	CD Rom – 2015-2016 Commercial Assessments
SS	BOE Decision 19Q130163

 

Robert Denne (Denne) is a partner in Almy, Gloudemans, Jacobs & Denne. He is a tax consultant specializing in property tax assessment administration and has been engaged in such work for over 40 years.  (Exhibit A) He was hired by Patrick Keefe to analyze the assessment of commercial property in St. Louis County for tax year 2015, more specifically, to determine the average level of assessment for commercial property as of January 1, 2015.  Denne prepared a report of his findings.  (Exhibit C)

To analyze the assessment of commercial property in St. Louis County for tax year 2015, Denne used sales of commercial property in St. Louis County that occurred from July 2014 through June 2015. (Exhibit C p.2)  The study utilized data from the St. Louis County Assessor’s Office regarding sales of commercial properties. (Exhibit C p.2)  The number of sales requiring validation was 1,228. The commercial sales were provided to an appraiser, Timothy Schoemehl (Schoemehl) for validation per IAAO^[3] standards. (Exhibit C p.3)

Schoemehl was provided with sales data obtained from the St. Louis County Assessor’s Office. Schoemehl worked with Denne to ensure the sales validation process complied with IAAO standard for ratio studies. (Exhibit A p.8) Schoemehl validated sales of commercial properties occurring in St. Louis County between July 1, 2014, and June 30, 2015. Schoemehl “reviewed information in [his] possession, including the deeds, COV, and SVQ or other notes or information from the disks provided to me.  [He] looked through [the] office files for any internal research [they] may have done, including whether [they] had appraised the property or used the sale as a comparable in an appraisal.  [He] consulted recognized commercial sales databases….[and] used the St. Louis County website.  If [he] still had questions or concerns about the vailidity of a sales, [he] tried to identify a party to the sale..with whom [he] could follow up…” (Exhibit D p.6)  Of the 1,228 sales records, 306 sales were found to be valid, arm’s-length transactions.  (Exhibit A p.16)

Denne computed measures of central tendency for his ratio study. The median is the middle number in a set of numbers.  The mean is the average or the sum of the numbers divided by the total count of numbers.  The weighted mean is the weighted average of the ratios when each ratio is weighted by its sale price, i.e., the sum of the assessed values divided by the sum of the TVM proxy (sale price).

Denne reported the following findings for commercial assessments in St. Louis County in 2015 (Exhibit C):

Median		27.4%	97.2
Weighted Median		24.1	97.8
Mean		26.7
Weighted Mean		24.3%
PRD			1.116
COD			.188
PRB			-1.750

 

Denne amended his report findings due to a “copy-paste error.”  (Exhibit OO p 2) He concluded “that the figures appearing in columns 3 through 11 of row 6 of that Table 3 are essentially meaningless.  For stratified data they should not have been reported, much less should they have been recommended….Complainant’s Exhibit QQ is a recalculation of the original Table 3 incorporating the data correctly trimmed of outliers from the same (post-BOE) dataset as was used for the remainder of the data in the original Table 3.” (Exhibit OO p. 3)  Denne reported the following findings for commercial assessments in St. Louis County in 2015 in his amended table (Exhibit QQ):

Median		29%	.906
Assessment Weighted Median		23.9%
Weighted Mean		26.7%
Stratum Value Weighted Mean		24.3%
PRD			1.116
COD			.188
PRB			-1.750

 

Table 3 of Exhibits C and QQ were calculated using post-BOE valuations.

Complainant also submitted Exhibit PP which “is an alternate to the original Table 3…which shows the effect on [the] calculations of substituting pre-BOE values for post-BOE values. (Exhibit PP)

Median		30.8%	96.25
Assessment Weighted Median		30.9%	96.56
Weighted Mean		27.6%	86.25
Weighted Mean		26%	81.25
PRD			1.131
COD			.260
PRB			-2.197

 

The Respondent filed the following Exhibits which were admitted into evidence:

Exhibit	Description
1	Testimony of Patrick O’Connor
2	Study of Patrick O’Connor
3	IAAO Standard on Ratio Studies
4	Spreadsheet – 145 sales used
5	2015 Ratio Study
6	Testimony of Steve Robertson
7	Spread sheet of sales from 1/1/15 to 12/31/15
8	Testimony of Sandy Youtzy
	Rebuttal
9	Testimony of John Gillick
10	CV of John Gillick
11	SLCo sale file of 18K310513
12A	SLCo sale file for 12M330315
12B	SLCo sale file for 12M330315
13	SLCo sale file for 13J330980.
14	SLCo sale file for 18K310997
15	SLCo sale file for 23T531199
16	SLCo sale file for 28P440441
17	SLCo sale file for 26G112010
18	SLCo sale file for 26K640466
19	SLCo sale file for 17N540851
20	SLCo sale file for 27K111697
21	SLCo sale file for 16H421088
22	SLCo sale file for 09N120191
23A	SLCo sale file for 17L441202
23B	SLCo sale file for 17L441202
24A	SLCo sale file for 24M221111
24B	SLCo sale file for 25M543135
25	SLCo sale file for 17N430563
26	Testimony of Patrick O’Connor
	Sur-rebuttal
27	Sur-rebuttal Testimony of Steve Robertson
28	Sur-rebuttal Testimony of Sandy Youtzy
29	St. Louis County Board of Equalization Memorandum of Waiver, dated 8/28/15, as to Keefe

 

            Witness Patrick M. O’Conner (O’Connor) testified on behalf of the county. O’Conner is a Certified General Real Estate Appraiser. (Exhibit 1 p.1)  He has been involved in mass appraisal since 1973. (Exhibit 1 p. 2)

He prepared a report involving:

1. Sales ratio study as of January 1, 2015;
2. Statistical review of a separate file of sales prices for commercial properties from 2011 through 2015;
3. Application of direct market models to a sample of sold and unsold commercial properties as of the valuation date of January 1, 2015;
4. Performance of a direct market model values-to sales prices ratio study on a sample of sold properties; and
5. Performance of appraisal ratio studies of 2015 appraised-to-direct market model values on a sample of sold and unsold commercial properties. (Exhibit 2 p.1)

 

O’Connor’s ratio study used 145 commercial sales from the last three quarters of 2014 and the first three quarters of 2015. O’Connor determined the following:

Mean			N/A
Weighted Mean			N/A
	Assessment Ratio	Not Calculated
Median			96.5%
	Assessment Ratio	31%
PRD			105%
COD			16.8%
PRB			-1.2%

 

O’Connor inadvertently used post-BOE TVM rather than Assessor’s value (pre-BOE) in his study on 13 of the 145 properties. The BOE adopted the sales price as TVM as to those properties. The result is a 1:1 ratio of sale price to BOE valuation. The use of the properties had no impact on the findings.

O’Connor found a median level of assessment of 31% and found little indication of regressivity.

CONCLUSIONS OF LAW AND DECISION

Jurisdiction

The Commission has jurisdiction to hear this appeal and correct any assessment which is shown to be unlawful, unfair, arbitrary or capricious. The Hearing Officer shall issue a decision and order affirming, modifying or reversing the determination of the Board of Equalization, and correcting any assessment which is unlawful, unfair, improper, arbitrary, or capricious. Article X, section 14, Mo. Const. of 1945; Sections 138.430, 138.431, 138.431.4, RSMo. 

Official and Judicial Notice

Agencies shall take official notice of all matters of which the courts take judicial notice. Section 536.070(6), RSMo.

Courts will take judicial notice of their own records in the same cases. State ex rel. Horton v. Bourke, 129 S.W.2d 866, 869 (1939); Barth v. Kansas City Elevated Railway Company, 44 S.W. 788, 781 (1898).  In addition, courts may take judicial notice of records in earlier cases when justice requires or when it is necessary for a full understanding of the instant appeal. Burton v. Moulder, 245 S.W.2d 844, 846 (Mo. 1952); Knorp v. Thompson, 175 S.W.2d 889, 894 (1943); Bushman v. Barlow, 15 S.W.2d 329, 332 (Mo. banc 1929) State ex rel St. Louis Public Service Company v. Public Service Commission, 291 S.W.2d 95, 97 (Mo. banc 1956).  Courts may take judicial notice of their own records in prior proceedings involving the same parties and basically the same facts. In re Murphy, 732 S.W.2d 895, 902 (Mo. banc 1987); State v. Gilmore, 681 S.W.2d 934, 940 (Mo. banc 1984); State v. Keeble, 399 S.W.2d 118, 122 (Mo. 1966).

Presumption of Correctness of BOE

 

There is a presumption of validity, good faith and correctness of assessment by the County Board of Equalization.  Hermel, Inc. v. STC, 564 S.W.2d 888, 895 (Mo. banc 1978); Chicago, Burlington & Quincy Railroad Co. v. STC, 436 S.W.2d 650, 656 (Mo. 1968); May Department Stores Co. v. STC, 308 S.W.2d 748, 759 (Mo. 1958).   This presumption is a rebuttable rather than a conclusive presumption.   The presumption of correct assessment is rebutted when the taxpayer presents substantial and persuasive evidence to establish that the Board’s valuation is erroneous and what the fair market value should have been placed on the property. Hermel, supra; Cupples-Hesse Corporation v. State Tax Commission, 329 S.W.2d 696, 702 (Mo. 1959).

Duty to Investigate

In order to investigate appeals filed with the STC, the STC has the duty to inquire of the owner of the property or of any other party to the appeal regarding any matter or issue relevant to the valuation, subclassification or assessment of the property. The Commission’s decision regarding the assessment or valuation of the property may be based solely upon its inquiry and any evidence presented by the parties, or based solely upon evidence presented by the parties. Section 138.430.2, RSMo.

Weight to be Given Evidence

 

The STCs not bound by any single formula, rule or method in determining true value in money, but is free to consider all pertinent facts and estimates and give them such weight as reasonably they may be deemed entitled. The relative weight to be accorded any relevant factor in a particular case is for the Commission to decide. St. Louis County v. Security Bonhomme, Inc., 558 S.W.2d 655, 659 (Mo. banc 1977); St. Louis County v. STC, 515 S.W.2d 446, 450 (Mo. 1974); Chicago, Burlington & Quincy Railroad Company v. STC, 436 S.W.2d 650 (Mo. 1968).

Trier of Fact

The STC as the trier of fact may consider the testimony of an expert witness and give it as much weight and credit as they may deem it entitled to when viewed in connection with all other circumstances. The Commission is not bound by the opinions of experts who testify on the issue of reasonable value, but may believe all or none of the expert’s testimony and accept it in part or reject it in part. St. Louis County v. Boatmen’s Trust Co., 857 S.W.2d 453, 457 (Mo. App. E.D. 1993); Vincent by Vincent v. Johnson, 833 S.W.2d 859, 865 (Mo. 1992); Beardsley v. Beardsley, 819 S.W.2d 400, 403 (Mo. App. 1991); Curnow v. Sloan, 625 S.W.2d 605, 607 (Mo. banc 1981).

Opinion Testimony by Experts

If specialized knowledge will assist the trier of fact to understand the evidence or to determine a fact in issue, a witness qualified as an expert on that subject, by knowledge, skill, experience, training, or education, may testify thereto. The facts or data upon which an expert bases an opinion or inference may be those perceived by or made known to the expert at or before the hearing and must be of a type reasonably relied upon by experts in the field in forming opinions or inferences upon the subject and must be otherwise reliable, but the facts or data need not be admissible in evidence. Section 490.065, RSMo; State Board of Registration for the Healing Arts v. McDonagh, 123 S.W.3d 146 (Mo. SC. 2004); Courtroom Handbook on Missouri Evidence, Wm. A. Schroeder, Sections 702-505, pp. 325-350; Wulfing v. Kansas City Southern Industries, Inc., 842 S.W.2d 133 (Mo. App. E.D. 1992).

Three expert witnesses were presented at the hearing as to the average level of assessment of commercial property in St. Louis County in 2015^[4].  All experts had experience in appraisal and mass appraisal for ad valorem tax purposes as well as the review of valuation by mass appraisal.

Complainant’s Burden of Proof

The taxpayer is the moving party seeking affirmative relief, therefore, the taxpayer bears the burden of proving the vital elements of the case, i.e., the assessment was “unlawful, unfair, improper, arbitrary or capricious,” by substantial and persuasive evidence. See, Westwood Partnership v. Gogarty, 103 S.W.3d 152 (Mo. App. E.D. 2003); Daly v. P. D. George Co., 77 S.W.3d 645 (Mo. App. E.D. 2002); Reeves v. Snider, 115 S.W.3d 375 (Mo. App. S.D. 2003). Industrial Development Authority of Kansas City v. State Tax Commission of Missouri, 804 S.W.2d 387, 392 (Mo. App. 1991).

Substantial evidence can be defined as such relevant evidence as a reasonable mind might accept as adequate to support a conclusion. See, Cupples-Hesse Corporation v. State Tax Commission, 329 S.W.2d 696, 702 (Mo. 1959). Persuasive evidence is that evidence which has sufficient weight and probative value to convince the trier of fact.  The persuasiveness of evidence does not depend on the quantity or amount thereof but on its effect in inducing belief.

Brooks v. General Motors Assembly Division, 527 S.W.2d 50, 53 (Mo. App. 1975).

       Ratio/Discrimination

Complainants’ only issue on appeal is discrimination. The issue is whether the assessments are in violation of the Missouri Constitution and the Fourteenth Amendment of the Constitution of the United States, as it attempts to deprive and deny the Complainants the equal protection of the laws.  “The purpose of the equal protection clause of the Fourteenth Amendment is to secure every person within the state’s jurisdiction against intentional and arbitrary discrimination, whether occasioned by express terms of a statute or by its improper execution through duly constituted agents.” Sunday Lake Iron Co v Wakefield Tp, 247 U.S. 350, 38 S. Ct 495, 62 L.Ed 1154 (1918)

The Commission is required to correct any assessment or valuation that is arbitrary, capricious, improper, or unfair. Section 138.430 RSMo.   To prevail on a claim of discrimination in assessment, the Complainant must (1) prove the true value in money of their property on January 1, 2015; and (2) show an intentional plan of discrimination by the assessing officials resulting in an assessment of that property at a greater percentage of value than other property, generally, within the same class within the same taxing jurisdiction or show that the level of an assessment is so grossly excessive as to be inconsistent with an honest exercise of judgment. Savage v. State Tax Commission, 722 S.W.2d 72 (Mo. banc 1986); Westwood Partnership v. Gogarty, 103 S.W.3d 152 (Mo. App. E.D. 2003.)

When an assessor estimates TVM lower than the actual market value for a significant number of properties of the same sub-classification within the jurisdiction, the consequence is that the taxpayers whose properties were undervalued pay less than their fair share of taxes, while the taxpayers whose properties where either accurately valued or overvalued pay more than their fair share of taxes. When such disparity is so grossly excessive as to be entirely inconsistent with an honest exercise of judgment, it has the effect of intentional discrimination.

There is no evidence that there was an intentional plan of discrimination by the assessing officials, so we must determine if the Complainant presented substantial and persuasive evidence to show that the level of their assessment is so grossly excessive as to be inconsistent with an honest exercise of judgment.

Appropriate Measure

It is established under Missouri law that when a taxpayer’s property is subject to an assessment proportionately higher than other property in the same class, the assessment should be reduced. See, e.g., Koplar v. State Tax Commission, 321 S.W.2d 686 (Mo. 1959). The Constitutions of Missouri and the United States require that the subject property be assessed at a ratio no higher than the common level or average for the same class of subject. Fourteenth Amendment, U.S. Constitution, Article X, Sections 3, 4(a), Missouri Constitution 1945; Breckenridge Hotels v. Leachman, 571 S.W.2d 251, 252 (Mo. banc 1978); May Department Stores Company v. State Tax Commission, 308 S.W.2d 748, 762 (Mo. 1958).

To determine the common level of assessment, the experts looked to measures of central tendency. In this case, the issue of dispute between the parties is the proper measure of central tendency: the median, mean or the weighted mean. The same issue was raised in Industrial Development Authority of Kansas City v. John Kelley, Jackson County, 1989 WL 96234 (Mo. St. Tax Comm.)  The STC, in that decision, stated “[i]t is generally accepted that when adjusting individual assessments to the average level of assessment the median ratio should be used.”  The STC has consistently accepted such measure of central tendency. Zimmerman v. Mid-America Financial Corporation, 481 S.W.3d 564, 577 (Mo. Ct App. ED, 2015) and West County BMW v. Muehlheausler, STC 05-12569.  The STC’s Assessor Manual sets forth that the median is the measure to determine if a county is accurately assessing property.

The inquiry in a discrimination appeal is to determine a single ratio representing the assessments of varying properties within the same classification – the average or common level of assessment.  Complainants argue that the assessments in St. Louis County in 2015 for commercial properties were regressive – assessment ratio decreases as the value of the property increases.  Complainants argue that when regressivity is present, the weighted mean is the only appropriate measure.

Complainants are one of more than 2,600 claims of discrimination by commercial property owners in St. Louis County for the 2015-2016 assessment cycle. The valuations of the properties vary.  The STC cannot look at any particular property value and determine that all properties in excess of that value are subject to discrimination; “there is no dividing line”. (Tr. Vol II. P. 231)  The evidence did not establish a point estimate for all properties within the subclass, i.e. there is no common level of assessment. Commercial properties, according to the Complainants’ study, are over assessed, accurately assessed, and under assessed.  Isolated and uncoordinated reductions in selected assessments could produce additional disparities.

All the experts calculated a median. The calculated medians ranged between 30.7% and 31.1%.  The parties’ median levels of assessment are within 1% of each other.  Only one measure of central tendency indicated a disparity in commercial assessments.  Such is not substantial and persuasive evidence.

The experts’ consistent findings as to the median assessment are the most persuasive. The median level of assessment in St. Louis County for 2015 was approximately 31%.  In previous decisions, the STC found 5% disparity to be de minimus. Town and Country Racquet Club v. Morton, 1989 WL 41005.  Such disparity between the statutory level of assessment and the average level of assessment is not so grossly excessive as to be entirely inconsistent with an honest exercise of judgment and, hence, does not prove discrimination.

Conclusion

To prevail on a claim of discrimination in assessment, the Complainant must (1) prove the true value in money of their property on January 1, 2015; and (2) show an intentional plan of discrimination by the assessing officials resulting in an assessment of that property at a greater percentage of value than other property, generally, within the same class within the same taxing jurisdiction or show that the level of an assessment is so grossly excessive as to be inconsistent with an honest exercise of judgment.

Complainant failed to present substantial and persuasive evidence to show an intentional plan of discrimination by the assessing officials resulting in an assessment of that property at a greater percentage of value than other property, generally, within the same class within the same taxing jurisdiction or show that the level of an assessment is so grossly excessive as to be inconsistent with an honest exercise of judgment.  Since Complainant failed to establish an intentional plan of discrimination by the assessing officials or establish a disparity between the statutory level of assessment and the average level of assessment, the Hearing Officer finds no need to address the first prong of discrimination, i.e., true value in money of their property on January 1, 2015.

ORDER

The assessed valuation for the subject properties as determined by the BOE for St. Louis County for the subject tax day is SUSTAINED.

A party may file with the Commission an application for review of this decision within thirty days of the mailing date set forth in the Certificate of Service for this Decision. The application shall contain specific facts or law as grounds upon which it is claimed the decision is erroneous.  Said application must be in writing addressed to the State Tax Commission of Missouri, P.O. Box 146, Jefferson City, MO 65102-0146, and a copy of said application must be sent to each person at the address listed below in the certificate of service.

          Failure to state specific facts or law upon which the application for review is based will result in summary denial. Section 138.432, RSMo

Disputed Taxes

The Collector of St. Louis County, as well as the collectors of all affected political subdivisions therein, shall continue to hold the disputed taxes pending the possible filing of an Application for Review, unless said taxes have been disbursed pursuant to a court order under the provisions of Section 139.031.8, RSMo.

Any Finding of Fact which is a Conclusion of Law or Decision shall be so deemed. Any Decision which is a Finding of Fact or Conclusion of Law shall be so deemed.

SO ORDERED August 8, 2017.

STATE TAX COMMISSION OF MISSOURI

 

 

Maureen Monaghan

Hearing Officer

 

Certificate of Service

 

I hereby certify that a copy of the foregoing has been emailed or mailed postage prepaid on this 8^th day of August, 2017, to:  Patrick Keefe, 800 Bonhomme Ave., Suite 112, St. Louis, MO  63105, Attorney for Complainant; Jeremy Shook, 1 Brentwood Blvd, Suite 800, Clayton, MO  63105, Attorney for Respondent; Jake Zimmerman, Assessor, County Government Center, 41 South Central Avenue, Clayton, MO 63105; Mark Devore, Collector, County Government Center, 41 South Central Avenue, Clayton, MO 63105.

 

Jackie Wood

Legal Coordinator

 

 

Complainants represented by Sansone Tax Representative and Counsel Jason Turk and Thomas Campbell filed the following exhibits as part of the hearing to determine the common level of assessment (ratio) for commercial properties in St. Louis County in 2015:

 

Exhibit	Description
A	Written Direct Testimony of Robert Gloudemans
B	Written Direct Testimony of John Hottle
C	Commercial Ratio Study of Robert Gloudemans
D	Supplement to Appendix 2 of Exhibit C
	Sur-Rebuttal
E	Testimony of Robert Gloudemans
F	Testimony of John Hottle
G	Impact Notice 10L420653
H	Impact Notice 13K520081
I	Impact Notice 14N120030, Letters from Assessor
J	Impact Notice 15N130407, Letters from Assessor
K	Impact Notice 15K240583
L	BOE Decision 16M530069, Impact Notice
M	Impact Notice 16P610696, Letters from Assessor
N	Impact Notice 19Q140113
O	BOE Decision 21K331251, Impact Notice
P	BOE Decision 22S121644, Impact Notice
Q	Impact Notice 23S540286, Letters from Assessor
R	Impact Notice 28L640434
S	Impact Notice 29H210253, Letters from Assessor

 

 

 

 

 

 

 

EXHIBIT A
Appeal Number	Taxpayer Name	Parcel/Location
15-10103	FOCI Enterprise LLC	06G140293
15-10104	FOCI Enterprise LLC	06G140307
15-10105	BSC HOLDINGS LLC	06G540044
15-10106	YATIM PROPERTIES LTD	06J521098
15-10107	OTTO PARTNERSHIP THE A MOGENPTNSP	07H130764
15-10108	SLATER LITCHFIELD L P	07H130883
15-10109	BRIDLE DEVELOPMENT CORP	07H130957
15-10110	BRIDLE DEVELOPMENT CORP	07H410101
15-10111	BEHLMANN PROPERTIES FAMILY LTD PTNSP	07H410134
15-10112	SUNSET PROPERTIES LLC	07H410420
15-10113	LCRF LLC	07J220853
15-10114	LCRF LLC	07J220864
15-10115	LCRF LLC	07J220941
15-10116	JEH REAL ESTATE HOLDINGS LLC	07J220952
15-10117	FAPCO INC	07J310372
15-10118	LCRF LLC	07J310460
15-10119	LCRF LLC	07J310493
15-10120	LCRF LLC	07J310503
15-10121	SWEENEY FLOYD L     TRUSTEE ETAL	07J310514
15-10122	PATTERSON PLAZA LLC	07J441250
15-10123	SHACKELFORD ASSOCIATES LL C	07K530942
15-10124	SHACKELFORD ASSOCIATES LL C	07K530953
15-10125	DDL PARTNERSHIP L P	07L330345
15-10126	HOWDERSHELL CARWASH LLC	07L620163
15-10128	HALLIBURTON WILLIAM K & JOAN Y H/W	08E410040
15-10129	Midwest Petroleum Company	08E520084
15-10130	T-DOGGS TATTOOS LLC	08E520875
15-10131	BEHLMANN INVESTMENTS	08F310884
15-10132	BEHLMANN INVESTMENTS	08F310895
15-10133	PIMENTEL CEDRICK TRUSTEE	08F321059
15-10134	GOERSS WAYNE E KATHY A   H/W ETAL	08G240625
15-10135	LCRF LLC	08H331012
15-10136	BEHLMANN LAMBERT E ALMA M   H/W TRS	08H610456
15-10137	SOARING EAGLESL L C	08H610478
15-10138	BALDRIDGE KEEVEN PROPERTIES L L C	08K121084
15-10139	BALEK JOSEPHINE     TRUSTEE ETAL	08K210579
15-10140	ROTENBERG MARVIN S NANCY L   H/W	08K610704
15-10141	OTTO PARTNERSHIP L L C THE	08K610726
15-10142	SHARK JOSEPH A     ETAL	08K620693
15-10143	PARK 370 INVESTORS L L C ETAL	08M110060
15-10144	AMS PROPERTIES-HAZELWOOD L L C	08M140090
15-10145	MCW- RD SIERRA VISTA PLAZA LLC	09E210225
15-10146	MCW- RD SIERRA VISTA PLAZA LLC	09E210292
15-10147	SLATER ALICE M     TRUSTEE	09E210302
15-10148	DDL PARTNERSHIP LTD	09G110112
15-10149	RAZZAQUE NAVEED   ANJUM     H/W TRUSTEES	09G130264
15-10150	LEWIS & CLARK STATE BANKOF ST L CO	09G210278
15-10151	U S I WEST L L C	09H320035
15-10152	SULTAN FAMILY PARTNERSHIPNO 1 L P	09H340253
15-10153	ST LOUIS MEDICAL REHAB GROUP LLC	09J220295
15-10154	OTTO PARTNERSHIP THE	09J630166
15-10155	MYERS HOUSE LLC	09K340402
15-10156	LINDNER DONALD R TRUSTEE ETAL	09K430129
15-10158	K C PROPCO L L C	09L440600
15-10159	BEHLMANN INVESTMENTS	09M620416
15-10160	J FINCH LLC	09N220291
15-10161	GOLDKAMP RAYMOND F     TRUSTEE ETAL	09N230102
15-10162	H & L INVESTMENT CO	09N230113
15-10163	H & L INVESTMENT CO	09N230168
15-10164	4334-4336 BRIDGETON IND DRIVE L L C	09N240178
15-10165	RAVEN INDUSTRIES INC	09O110234
15-10166	STOCK PROPERTIES L L C	09O130067
15-10167	MOSON AUTOTECH LLC	09O210158
15-10168	DALCO INDUSTRIES INC	09O230145
15-10169	CROSSROAD PROPERTIES LLC A MISSOURI LIMI	09O230156
15-10170	BRIDGETON PROPERTIES L L C	09O310038
15-10171	BRIDGETON PROPERTIES L L C	09O310049
15-10172	LOHMANN PAUL A DELORES C H/W TRS	09O320114
15-10173	SCHACHT FAMILY HOLDING COMPANY LLC	09O320147
15-10174	HYINK FAMILY PARTNERSHIP THE	09O320158
15-10175	DCL REAL ESTATE LLC	09O330092
15-10176	MERUS PROPERTIES II L L C	09O330300
15-10177	BK HOLDINGS INC	09O420072
15-10178	DUGAN FINANCING LLC	09O420083
15-10179	MCW- RD SIERRA VISTA PLAZA LLC	10E530260
15-10180	LEWIS & CLARK MERCANTILEBANK	10E530381
15-10181	270 Properties LLC	10E530392
15-10182	SLATER LITCHFIELD L P	10E530417
15-10183	USI 270 L P	10E540344
15-10184	CARROLL DEVELOPMENT L L C	10G440264
15-10185	BEHLE RONALD J GINGER     H/W	10H430512
15-10186	BEHLE RONALD J GINGER C   H/W	10H430530
15-10187	BEHLE RONALD J GINGER     H/W	10H430549
15-10188	130 BYASSEE LLC	10K130050
15-10189	BYASSEE ENTERPRISES LLC	10K130061
15-10190	FOOD N FUN INC	10K220173
15-10191	EEB BERK LLC	10K240216
15-10192	FOLLMAN ROMISSCOURT L LC	10K310362
15-10193	BYASSEE ENTERPRISES LLC	10K410033
15-10195	AILANTHUS L L C	10M340390
15-10196	SUVAS CORPORATION	10M530113
15-10197	COOK BROS R E L L C	10M610264
15-10198	JASSO JOSEPH J	10M610286
15-10199	SPARROWHAWK BROWN CAMPUS II LP	10M640393
15-10200	MJ INVESTMENT PROPERTIES L L C	10N140063
15-10201	THF-S EARTH CITY DEVELOPMENT L L C	10O210309
15-10202	GOLD DUST L L C	10O310072
15-10203	STERLING SHORELINE PARTNERSHIP II LLC	10P610041
15-10204	JARRELL INVESTMENTS L P	10P610113
15-10205	JARRELL INVESTMENTS L P	10P610122
15-10206	ACROPOLISPM SHORELINE LLC	10P620194
15-10207	SAPPHIRE BAKERY COMPANY LLC	10P620233
15-10208	NORTH COUNTY SUPER STORAGE LLC	11F240512
15-10209	COLLIER HAL O	11F241319
15-10210	LEWIS & CLARK 195 L L C	11F241328
15-10211	BARNEY CHARLES R	11F411305
15-10212	BEAUTIFUL SOUNDS L L C A MO LTD LIABILIT	11F520571
15-10213	NORTH COUNTY SUPER STORAGE LLC	11F520580
15-10214	Midwest Petroleum Company	11G330263
15-10215	CHAMBERS PLAZAWEST LLC	11G340668
15-10216	CHAMBERS PLAZAWEST LLC ETAL	11G340851
15-10217	UNITE HERE LOCAL 74 BUILDING CORPORATION	11N210194
15-10218	HAHN MCKELVEY LLC	11N230217
15-10219	BERWALD DAVID M GAIL     H/W	11N230309
15-10220	KATSEV PROPERTY HOLDINGS L L C	11N230318
15-10221	THURSTON KATHY & JEFFERY H/H	11N241006
15-10222	JERRY MICHEL INC	11N310681
15-10223	ST CHARLES ROCK ROAD DEVELOPMENT L L C	11N320976
15-10224	ORCHARD BEND ASSOCIATES LP	11N331161
15-10225	CROWN DIVERSIFIED INDUSTRIES CORP	11N420104
15-10226	CROWN DIVERSIFIED INDUSTRIES CORP	11N420122
15-10227	BALDRIDGE KENNETH R     TRUSTEE	11N531130
15-10228	BZ PROPERTIES LLC	11N630314
15-10229	KELB INC A MISSOURI CORPORATION	11O610560
15-10230	Iah & FIA Investments LLC	11O620163
15-10231	KARAKAS ASSOCIATES	11O620361
15-10232	FEUTZ CALVIN FFUNERAL HOME INC	12F221215
15-10233	FEUTZ CALVIN FFUNERAL HOME INC	12F240346
15-10234	NGUYEN JAKE ETAL	12G130163
15-10235	MARKOS OWENS INVESTMENTS LLC	12H510461
15-10236	R & H INVESTMENTS MISSOURI PARTNERSHIP	12H510470
15-10238	MID AMERICA PIERING INC	12K110322
15-10239	Slah LLC	12K130021
15-10240	KRB BALDRIDGE PROPERTIES LLC	12K210264
15-10241	JOHN J CONNELLCOMPANY INC	12K641453
15-10242	ST ANN GOLFOMAT INC	12L110965
15-10244	D & A BUILDING L L C	12L120261
15-10246	GFI LAND LLC	12O130254
15-10247	WEBER FRED INC	12O140631
15-10248	S & P DEAN PROPERTIES L LC	12P320083
15-10249	GFI LAND LLC	12P320115
15-10250	RIVERPORT PROJECT TRUST BOARD OF TRUSTEE	12P640062
15-10251	RIVERPORT PROJECT TRUST BOARD OF TRUSTEE	12P640073
15-10252	RIVEPORT PROJECT TRUST BOARD OF TRUSTEES	12P640084
15-10253	UNITED PLUS PETROLEUM LLC	13F541053
15-10254	SANSONE PLAZA ON THE BOULEVARD LOT 3 LLC	13G430062
15-10255	MASSARI INC	13J220595
15-10256	PANELMATIC ST LOUIS INC	13J531686
15-10257	PANELMATIC ST LOUIS INC	13J531697
15-10258	BERKELEY PROPERTIES INC AMO CORP	13K331090
15-10259	BERKELEY PROPERTIES INC AMO CORP	13K331100
15-10260	RADHE INC	13K540298
15-10261	YOUNG TERRY M JANICE J   H/W TRUSTEES	13K540661
15-10262	ROCK ROAD PARTNERS L L C	13L311376
15-10263	SHEN JOSEPH DEWEI & XU PEI MING H/W	13L421613
15-10264	VATTEROTT PROPERTIES INC	13L430936
15-10265	CFV COMMERCIAL PROPERTIES INC	13L430954
15-10266	CHARLES F VATTEROTT COMMERCIAL PROPERTIE	13L431067
15-10267	FOCI Enterprise LLC	13M120021
15-10268	COLLINS STANLEY L ETAL	13M522036
15-10269	CFV COMMERCIAL PROPERTIES INC	13M640583
15-10270	COSTELLO KENT B     TRUSTEE	13N110517
15-10271	COSTELLO KENT B     TRUSTEE	13N110526
15-10273	LAFRANCE MANUFACTURING COMPANY	13N110764
15-10274	2458 OLD DORSETT LLC	13O310251
15-10275	CHOW INVESTMENTS L L C	13O340481
15-10276	ALBERTA PROPERTIES 6514 L L C	14G640415
15-10277	HELBLING WILLIAM G     TRUSTEE	14H210132
15-10278	MWA GROUP LLC	14J240792
15-10279	ALBERTA PROPERTIES 8804 L L C	14J531544
15-10280	GRUBBS BRIAN D ELLEN B   H/W	14K231287
15-10281	MCDONALDS REAL ESTATE COMPANY	14K231430
15-10282	ROCK ROAD PARTNERS L L C	14K431069
15-10283	LINDNER FAMILY LIVING TRUST	14L240196
15-10284	OVERLAND HARDWARE COMPANYINC	14L320034
15-10285	SCHUETTE JOHN   PHYLLIS     H/W ETAL	14L321013
15-10286	OVERLAND HARDWARE COMPANYINCA MO CORP	14L321402
15-10287	L & H REALTY DEVELOPMENT LLC	14M221385
15-10288	APACHE NO 6 LLC	14N120063
15-10289	FOLLMAN NORTHLINE L L C	14N130132
15-10290	NORTHLINE PROPERTIES L L C	14N140207
15-10291	TDS Realty LLC	14N211532
15-10292	TDS Realty LLC	14N211541
15-10293	VERNA PROPERTIES LLC	14N221593
15-10294	VERNA PROPERTIES L L C	14N222523
15-10295	VERNA PROPERTIES L L C	14N222541
15-10296	VERNA PROPERTIES L L C	14N222550
15-10297	WILLIAMS STANLEY JR REVOCABLE LIVING	14N230306
15-10298	ROCK ISLAND GROUP LLC	14N230324
15-10299	SHELBY ASSETS LLC	14N230470
15-10300	PROGRESSIVE BUSINESS EQUIPMENT INC	14N330460
15-10301	WOTKA JOSEPH A TRUSTEE ETAL	14N440635
15-10302	PAVELEC FAMILYPARTNERSHIP L P THE	14N610773
15-10303	PCS 87 LLC	14O220571
15-10304	FACILITY BRANDS FACILITY LLC	14O310692
15-10305	LITHO BUILDING CORPORATION	14O330351
15-10306	DORSETT MCKELVEY LIMITED LIABILITY	14O530296
15-10307	MCW R D DORSETT VILL L L C	14O530515
15-10308	MCW R D DORSETT VILL L L C	14O530524
15-10309	SPANISH WOODS LLC	14O530542
15-10310	2458 OLD DORSETT LLC	14O630330
15-10311	HRM INC	15G120392
15-10313	LBL INVESTMENTS L L C	15L111046
15-10314	HUDDLESTON SHIRLEY J	15L640289
15-10315	HUDDLESTON SHIRLEY J	15L640564
15-10316	SUNSET PROPERTIES L L C	15L641147
15-10317	OVERLAND HARDWARE COMPANY	15L641356
15-10318	CDH INVESTMENTCO	15M120054
15-10319	LOU FUSZ PROPERTIES L L C	15M140113
15-10320	LOU FUSZ PROPERTIES L L C	15M230692
15-10321	BUETTNER FAMILY L L C	15M311212
15-10322	JHT INVESTMENTS L L C	15M420080
15-10323	JEROME GLICK INC	15M430320
15-10325	LACKLAND BUSINESS PARK LLC	15N230185
15-10326	SAFETY NATIONAL CASUALTY CORPORATION	15N240030
15-10328	MORGENTHALER ROBERT B     TRUSTEE	15N420089
15-10330	COMPREHENSIVE PROPERTIESL L C	15N510168
15-10331	LACKLAND BUSINESS PARK LLC	15N510180
15-10332	PIEPER JOHN F FRANCES K   H/W TRS	15N520145
15-10333	TAYCO WESTPORT L L L P	15N520167
15-10334	U S BANK NATIONAL ASSOCIATION	15N520178
15-10335	U S BANK NATIONAL ASSOCIATION	15N520189
15-10336	7 MILLPARK L L C	15N640188
15-10337	2351 MILLPARK L L C	15N640232
15-10338	ALLIANCE EQUITIES PARK 270 LLC	15O220314
15-10339	CUNA MUTUAL INVESTMENT CORP WI CORP	15O240172
15-10340	BRIMAR L P A MISSOURI LIMITED PARTNERSHI	15O340425
15-10341	MNJ INC	15O610191
15-10342	JARIWALA MAHENDRA	15O620013
15-10343	HALLIBURTON WILIAM K	15O620123
15-10344	U GAS WESTPORT WESTLINE LLC	15O640404
15-10345	ALROB L L C	16H210383
15-10346	ALROB L L C	16H230040
15-10347	ALROB L L C	16H230051
15-10348	ALROB L L C	16H230062
15-10349	ALROB L L C	16H230224
15-10350	ALROB L L C	16H230260
15-10351	CHRISTO L L C	16H241224
15-10352	CHRISTO L L C	16H241426
15-10353	HRM INC	16H312188
15-10354	HRM INC	16H312199
15-10355	HRM INC	16H312201
15-10356	CURTIS-TOLEDO INC	16H340985
15-10357	MARKOS OWENS INVESTMENTSLLC	16H431593
15-10358	HARTMAN-WALSH CORPORATION	16H440085
15-10359	7112 PAGE LLC	16J311304
15-10360	T & J HOLDINGS L L C ETAL	16J410085
15-10361	1501 WOODSON ROAD L L C A MISSOURI LIMIT	16K110872
15-10362	COLCOR PROPERTIES LC	16K130386
15-10363	M & W Investments	16K410161
15-10364	BIG NET LLC	16K610723
15-10365	ROBERT VATTEROTT PROPERTIES INC	16L421203
15-10366	C & H REAL ESTATE LLC	16L421434
15-10367	GINO CORP A MISSOURI CORPORATION	16L430256
15-10368	SWEENEY FLOYD L MARTHA L   H/W TRUSTEES	16L430355
15-10369	USI MANAGEMENTCO MO GENERALPTNSP	16L440244
15-10370	NATIONAL RETAIL PROPERTIES L P	16L530703
15-10371	FUSZ EUGENE A     TRUSTEE ETAL	16M120055
15-10372	FUSZ EUGENE A     TRUSTEE ETAL	16M120066
15-10373	LARSON CAPITAL FUND II LLC	16M210255
15-10374	LARSON CAPITAL FUND II LLC	16M210299
15-10375	KOINOS LLC	16M230121
15-10376	LARSON CAPITAL FUND II LLC	16M230143
15-10377	APACHE NO 1 LLC	16M510027
15-10378	NORTH LINDBERGH L P	16M510313
15-10379	LOU FUSZ PROPERTIES L L C	16M530333
15-10380	GRIESEDIECK SERVICE MANAGEMENT INC	16M540134
15-10381	MR N MISSOURI L L C	16M540411
15-10382	Lou Fusz Properties LLC	16M610271
15-10383	RITTER JAMES A BELINDA L   H/W	16M620335
15-10384	F & S PROPERTYHOLDINGS INC	16M630389
15-10386	Olive Arcade Plaza Venture	16P242196
15-10387	MCW RD BELLERIVE PLAZA LLC	16P310101
15-10388	KC Propco LLC	16P522355
15-10389	OMP INC	16Q130977
15-10390	13990 OLIVE PARTNERS L L C	16Q130986
15-10391	BRIGHT REAL ESTATE LLC	16Q311055
15-10392	GERSHMAN BETTIE       TRUSTEE	16Q330810
15-10393	White Front Furniture Company	16Q330892
15-10394	JPH REALTY L L C	17H440112
15-10395	JPH REALTY L L C	17H440121
15-10396	JPH REALTY L L C	17H440130
15-10397	HRM PROPERTIESINC	17H632157
15-10398	941 MIDLAND L L C	17J210622
15-10399	OLIVE ROAD LLC	17J310788
15-10401	MIDWEST ST LOUIS L L C	17J320271
15-10402	BURKEMPER HOLDING COMPANYL LC	17J410372
15-10403	C SEDLAK PROPERTIES LLC	17J510087
15-10404	C SEDLAK PROPERTIES LLC	17J510108
15-10405	C SEDLAK PROPERTIES LLC	17J511440
15-10406	C SEDLAK PROPERTIES LLC	17J511538
15-10407	NGO QUANG M & SUAN H H/W	17J522363
15-10408	SERVICE MASTERCONTRACT SERVICE INC	17J621143
15-10409	WREN FRED H JR & CAROL H/W TRUSTEES	17J621880
15-10410	Clayton Olive Joint Venture	17K431921
15-10411	KLOTZER CHARLES L     TRUSTEE	17K440158
15-10412	NGO QUANG M & SUSAN H H/W	17K440334
15-10413	CHEN CHAU LIANG & LIH HWAYU H/W	17K440411
15-10414	CENTRAL ENTERPRISES L L C	17K541073
15-10415	LINS GOURMET INVESTMENTS L L C	17K541116
15-10416	ALBERTA PROPERTIES 1220 L L C	17K640172
15-10417	OLIVETTE REAL ESTATE LLC	17L430246
15-10418	COLLINGWOOD INVESTMENT GROUP L L C	17L620645
15-10419	TUREC JILL	17L630974
15-10420	D E GREEN FAMILY LIMITED PARTNERSHIP	17L631041
15-10421	LOU FUSZ PROPERTIES L L C	17M440057
15-10422	D & D PARTNERSHIP LLC ETAL	17M440101
15-10423	D & D PARTNERSHIP LLC ETAL	17M440277
15-10424	FUSZ PAUL D     TRUSTEE ETAL	17M440943
15-10425	Lou Fusz Properties LLC	17M530103
15-10426	ZURIAL PROPERTIES LLC	17M530422
15-10427	ZURIAL PROPERTIES LLC	17M530433
15-10428	11505 Olive LLC	17N410932
15-10429	11505 Olive LLC	17N410950
15-10430	11505 Olive LLC	17N410961
15-10431	LINDBERGH WARSON PROPERTIES INC	17N420421
15-10432	CREVE COEUR REAL ESTATE VENTURE II	17N420454
15-10433	CREVE COEUR REAL ESTATE VENTURE II L L C	17N420597
15-10434	LARSON CAPITAL FUND I L P	17N420603
15-10435	PLAYFUL LEARNING PROPERTIES LLC	17N510698
15-10436	11100 OLIVE LLC	17N540080
15-10437	GERSHMAN BETTIE     TRUSTEE	17N540732
15-10438	PLAZA MEMBERS III	17O310431
15-10439	BOULEVARD INVESTMENT CO	17O331133
15-10440	LANG LOUIS G ELIZABETH A   H/W TRS	17O341927
15-10441	SCOTT JOE H SR   TRUSTEE ETAL	17O342452
15-10442	D G REAL ESTATE INC	17O510192
15-10443	LC REAL ESTATE LLC	17O520180
15-10444	BAMBOO WOODCREST HOLDINGS LLC	17O530907
15-10445	BAMBOO WOODCREST HOLDINGS LLC	17O540320
15-10446	O CONNOR CHERYL K TRUSTEE	17O540342
15-10447	O CONNOR CHERYL K TRUSTEE	17O540353
15-10448	MORITZ L L C	17P640089
15-10449	KUETHER LLC	17Q110644
15-10450	THF CHESTERFIELD DEVELOPMENT L L C	17T130166
15-10451	GAMMA ENTERPRISES LLC	17T330069
15-10452	CHESTERFIELD GROVE MARKETL LC	17T330070
15-10453	FOLLMAN-LEVY SPIRIT VENTURE	17U110178
15-10454	Pulaski Bank	17U110695
15-10455	Pulaski Bank	17U120254
15-10456	KJJJ PROPERTIES LLC	17U130275
15-10457	KEHR DEVELOPMENT L L C	17U130583
15-10458	BMPB LLC	17U130660
15-10459	LOU FUSZ PROPERTIES L L C	17U140506
15-10460	H D E CORP	17U230254
15-10461	THF CHESTERFIELD THREE DEVELOPMENT L L C C/O EMPER	17U330244
15-10462	LOU PROPERTIES LLC	17U420158
15-10463	MASE L L C	17U510073
15-10464	SAVE GASOLINE CORP A MO CORP	17U510084
15-10465	FRISELLA PROPERTIES LLC	17U520148
15-10466	HALLIBURTON JOAN Y & WILLIAM K H/H TRUST	17V210101
15-10467	CROWN DIVERSIFIED INDUSTRIES CORP	17V230154
15-10468	EDISON 177 L C	17V320255
15-10469	T I K A HOLDINGS LLC	17V320266
15-10470	VAIBHAV LAKSHMI LLC	17V510193
15-10471	Avanti Properties LLC	17V520246
15-10472	SUCCESSFUL INVESTORS THE	17V630059
15-10473	SEAMLESS INVESTMENTS LLC	17W120076
15-10474	CENTURION INVESTMENTS INC	17W320412
15-10475	SCHARR JACK B	17W620280
15-10476	RPSLRD LLC	18H420078
15-10477	7601 FORSYTH L L C	18J110413
15-10478	GERSHMAN SOLON     TRUSTEE	18J110424
15-10479	GERSHMAN SOLON     TRUSTEE	18J111546
15-10480	GERSHMAN SOLON     TRUSTEE	18J111557
15-10481	BURCH PROPERTIES INC	18J411583
15-10482	U CITY LIONS LLC A MISSOURI LTD LIABILIT	18J621254
15-10483	U CITY LIONS LLC A MISSOURI LTD LIABILIT	18J621265
15-10484	PLAZA MEMBERS I L L C	18K120488
15-10485	SM PROPERTIES IV L L C	18K140332
15-10486	SM PROPERTIES FOUR-A L L C	18K230831
15-10487	SM PROPERTIES FOUR-A L L C	18K230840
15-10488	RPSTL LLC	18K310414
15-10489	S G I HOTEL L L C	18K310502
15-10490	S G I HOTEL L L C	18K310546
15-10493	2 NORTH CENTRAL L L C	18K320523
15-10494	16 NORTH CENTRAL L L C	18K320590
15-10495	NORTH CENTRAL REALTY LLC	18K320600
15-10496	19 23 NORTH BEMISTON L L C	18K320644
15-10497	STERN THOMAS A KAREN G   H/W	18K320699
15-10498	NORTH CENTRAL PROPERTY L L C	18K320754
15-10499	38 48 NORTH CENTRAL L L C	18K320802
15-10500	7817 FORSYTH L L C	18K320886
15-10501	TWO CORNERS L L C	18K321106
15-10502	PWK INVESTORS L L C	18K330335
15-10503	FRED W AHLEMEIER CO	18K430259
15-10504	SERENITY HOMES LLC	18K530469
15-10505	NATIONSBANK N A TRUSTEE ETAL	18K531349
15-10506	SRT ENTERPRISES INCORPORATED	18K640261
15-10507	SRT ENTERPRISES INCORPORATED	18K641800
15-10508	SMITH RUSSELL JOHN TRUSTEE	18M140330
15-10509	JONAN PROPERTIES LLC	18M440432
15-10510	DELMAR GARDENSAT CONWAY RIDGE L L C	18S320435
15-10511	KING REAL ESTATE INVESTMENTS II L L C	18U430136
15-10512	OVERMANN RAYMOND V TRUSTEE	18U430170
15-10513	OVERMANN RAYMOND V TRUSTEE	18U430181
15-10514	J R A LLC	18U430345
15-10515	ANDREWS REAL ESTATE ENTERPRISES NO 5 LLC	18V230078
15-10516	LIPTON CLAYTON HANLEY LLC	19J110425
15-10517	STEWART W LAYTON TRUSTEEETAL	19J310010
15-10518	ROBERT J AMBRUSTER INC	19J310021
15-10519	WAGNER ENTERPRISES L L C	19K220897
15-10520	FIRST BRENTWOOD PROPERTIES L L C	19K220903
15-10521	CLAYSHIRE PROPERTIES L LC	19K231204
15-10522	WCS Clayton Road LLC	19K310581
15-10523	LIPTON CLAYTON HANLEY LLC	19K320568
15-10524	SHIRE OIL CO	19K620484
15-10525	BURCH PROPERTIES INCORPORATED	19K641274
15-10526	FUHRER ESTHER C TRUSTEE ETAL	19M310040
15-10527	FUHRER ESTHER C TRUSTEE ETAL	19M310062
15-10528	CICERO INVESTMENT CO THE	19M310127
15-10529	CLAYBELL INN INC	19M310161
15-10530	RFJ ENTERPRISES LLC	19M340135
15-10531	9640 CLAYTON LLC ETAL	19M340180
15-10532	FRONTENAC RACQUET CLUB INC	19M411053
15-10533	FRONTENAC RACQUET CLUB INC	19M411460
15-10534	R W INVESTMENT CO L L P	19M421513
15-10535	OLD FRONTENAC SQUARE L L C	19M421546
15-10536	WALKER T & C LLC	19P230101
15-10537	AMSI PROPERTIES LLC	19P330056
15-10539	WESTALL DOUGLAS V VICTORIA R   H/W	19Q130141
15-10540	WESTALL DOUGLAS V VICTORIA R   H/W	19Q130152
15-10541	WOODLAKE CONDO LLC	19Q130163
15-10542	WOODLAKE CONDO LLC	19Q130174
15-10543	EDWIN R COHEN & ASSOCIATES LP	19Q130185
15-10544	DEN-GRANT INC	19Q130196
15-10545	BRENEMAN GARY L ALICE J   H/W	19Q130204
15-10546	BIEBEL CURT F JR IRREVOCABLE TRUST	19Q130213
15-10547	WOODSMILL HOLDINGS LLC	19Q130222
15-10548	PAGE JEFFEREY M	19Q130231
15-10549	RED CLAY LLC	19Q130240
15-10550	LORAN PROPERTIES LLC ETAL	19Q130507
15-10551	VATTEROTT PAUL B JR MARJORIE M H/W	19Q410047
15-10552	JJG PROPERTIESL L C	20J210231
15-10553	MASON CONTRACTORS ASSN OF ST LOUIS	20J242003
15-10554	SM PROPERTIES 2000 RICHMOND LLC	20J540938
15-10555	STILLWATERS INVESTMENTS LLC	20J541441
15-10556	KRUSSELL HENRY W     TRUSTEE	20J541560
15-10557	A K ASSOCIATESL L C	20J541571
15-10558	SM PROPERTIES 2000 RICHMOND LLC	20J541607
15-10559	SHEN JOSEPH D & XU PEI MING H/W	20J610684
15-10560	AMBRUSTER ROBERT J INC ACORPORATION	20J631144
15-10561	SM PROPERTIES 2000 RICHMOND LLC	20J631605
15-10562	Pulaski Bank	20J631751
15-10563	CORNELIUS PROPERTIES L L C	20J640652
15-10564	WOTKA JOSEPH ARMIN TRUSTEE ETAL	20J640753
15-10565	LB MANAGEMENT L L C	20K310064
15-10566	ROEHM ALFRED     TRUSTEE ETAL	20K310141
15-10567	LAWLOR GERALD T TRUSTEE	20K310284
15-10568	1326 1336 STRASSNER DRIVE L L C	20K310383
15-10569	1265 – 1300 STRASSNER DRIVE LLC	20K320553
15-10570	FRONTENAC GROVE L L C	20M430252
15-10571	SM PROPERTIES LADUE WEST L L C	20M440419
15-10572	LES TAYLOR INVCO INC MOCORP	20Q110046
15-10573	SM PROPERTIES WOODS MILL L L C	20Q110220
15-10574	GENERAL LAND &RACQUET SPORTSCORP	20Q420127
15-10575	K C PROPCO L L C	20R320073
15-10576	U-GAS STL HANLEY ROAD LLC	21J111661
15-10577	AUTOHAUS WEST INC	21J111717
15-10578	SUNQUAD CORPORATION	21J111946
15-10579	SUNQUAD LP A MISSOURI PARTNERSHIP	21J121383
15-10580	SUNQUAD LP A MISSOURI PARTNERSHIP	21j121394
15-10581	SUNQUAD LLLP	21J121415
15-10582	SUNCO LLC	21J130774
15-10583	SUNCO LLC	21J130884
15-10584	WMA GROUP LLC	21J141462
15-10585	MAPLE KING L L C	21J240774
15-10586	Rothschild Development Ltd	21J242372
15-10587	SUNQUAD LP A MO LP	21J410441
15-10588	SUNQUAD LLLP	21J410944
15-10589	SUNQUAD L P	21J411046
15-10590	Moops LLC	21J510961
15-10591	HOF LLC	21J512565
15-10592	HOF LLC	21J512576
15-10593	GBC ENTERPRISES LLC	21K110636
15-10594	GBC ENTERPRISES L L C	21K110672
15-10595	GBC ENTERPRISES LLC	21K130427
15-10596	GBC ENTERPRISES LLC	21K131215
15-10597	FROESEL CAROL CLOBES TRUSTEE	21K131260
15-10598	GBC ENTERPRISES	21K131361
15-10599	GBC ENTERPRISES LLC	21K131392
15-10600	ONT HOLDINGS LLC	21K140501
15-10601	OBRIEN TERRENCE R ETAL	21K140538
15-10602	OBRIEN TERRENCE R ETAL	21K140547
15-10603	HENSLEY PARTNERSHIP L L C THE	21K140565
15-10604	D T NEUNER L L C	21K210855
15-10605	2900 SOUTH BRENTWOOD LLC	21K210956
15-10606	TMD PROPERTY I L L C	21K220250
15-10607	615 DEVELOPMENT LLC	21K230352
15-10608	2722 SOUTH BRENTWOOD L LC	21K231283
15-10609	2726-2732 South Brentwood LLC	21K231294
15-10610	2726-2732 South Brentwood LLC	21K231306
15-10611	PIZZAZZ COMMERCIAL L L C	21K240106
15-10612	8500 MANCHESTER LLC TRUSTEE ETAL	21K240812
15-10613	DCD INVESTORS L L C ETAL	21K310241
15-10614	AUTOHAUS WEST INC	21K320965
15-10615	BICK MERCANTILE DRIVE LIMITEDPTNSP	21K331174
15-10616	RHEA JAMES W &M TRACEY H/W TRUSTEES	21K511714
15-10617	HAMPTON REALTYINC	21K620474
15-10618	KIVA GROUP INCTHE	21K631386
15-10619	BRIMER FAMILY L L C	21K640991
15-10620	MOOPS L L C	21L320984
15-10621	STANFORD COURT APTS L L C	21L321130
15-10622	SCOTT FREE LTD	21L321262
15-10623	GBC ENTERPRISES LLC	21L321295
15-10624	MCMANUS HOLDINGS LLC	21L321415
15-10625	FROESEL RONALD D     TRUSTEE ETAL	21L340124
15-10626	PRAS LLC	21L340490
15-10627	JCW INVESTMENTS LLC	21L340683
15-10628	ROEHM ALFRED     TRUSTEE ETAL	21L340849
15-10629	MAJ PROPERTIES LLC	21L340876
15-10630	ROEHM ALFRED     TRUSTEE ETAL	21L620707
15-10631	JAMPAC LLC	21O620030
15-10632	K C PROPCO L L C	21R441238
15-10633	BANYAN VENTURES L L C	21U120318
15-10634	BANYAN VENTURES L L C	21U120327
15-10635	MEW & EEW LLC	22J230152
15-10636	D F & H PROPERTIES MISSOURI GEN PTNSP	22J420683
15-10637	D F & H PROPERTIES MISSOURI GEN PTNSP	22J420793
15-10638	SUNQUAD LLLP	22J440274
15-10639	SUNQUAD L P	22J440285
15-10640	SUNQUAD L P	22J440296
15-10641	Big Bend Development Group	22J511466
15-10642	MORGNER DONALD J     TRUSTEE	22K110305
15-10645	DES PERES LAND COMPANY	22K320405
15-10647	SLACK FRANCIS G JILL L   H/W TRUSTEES	22K511179
15-10648	ENTERPRISES BY YASOU L L C	22L440223
15-10649	M B VENTURES LLC	22L531220
15-10650	SEEGER NEW ORLEANS LP	22L540992
15-10651	NR INVESTMENTS L L C	22L541087
15-10652	BUCKS INC	22M130703
15-10655	DEAN TEAM L L C	22M331283
15-10656	MANCHESTER L LC	22M331294
15-10657	HIRTH WILLIAM K & ELEANOR P H/W TRS ETAL	22M420011
15-10658	LINCOLN INVESTMENT COMPANY	22M421212
15-10659	TALLBROOKE DES PERES LLC	22N231326
15-10660	BRIANN REALTY LP	22N410718
15-10661	LC REAL ESTATE LLC	22N421273
15-10662	DES PERES COMMONS L L C	22N510634
15-10663	DES PERES COMMONS L L C	22N510643
15-10664	D P S PLAZA MEMBERS L L C	22O230382
15-10665	D L F D P S Q   L L C	22O230612
15-10666	FERGUSON DONALD L     ETAL	22O230630
15-10667	MOCAP LLC	22O410324
15-10668	ISLAND DREAMERS LLC A MO LIMITED LIABILI	22O620350
15-10669	ENERGY MARKETING 1877 LLC	22P110355
15-10670	SPEEDY CAR WASH LLC	22P120310
15-10671	BALDRIDGE MASON LLC	22P210253
15-10672	YANKEER LLC	22P220364
15-10673	YANKEER LLC	22P220373
15-10674	LN’L L L C	22Q110659
15-10675	WCS MANCHESTERLLC TRUSTEE ETAL	22R310511
15-10676	SUNTRUP WILLIAM N TRUSTEE ETAL	22R320475
15-10678	LEMON BUILDINGLLC	22T120013
15-10679	MOZINGO DON ALLEN & LENELLA DOROTHEA H/W	22T210727
15-10680	BUCKS INC	22T210736
15-10681	MOZINGO HOLDINGS L L C	22t210781
15-10682	ENTERPRISES BY YASOU L L C	22T210828
15-10683	BNAB ENTERPRISES LLC	22T231223
15-10684	CLARKSON CLAYTON CEN ASSOC JTVENTURE	22T420304
15-10685	JPC PROPERTIES L C	22V120208
15-10688	SFC PROPERTIES LLC ETAL	23K630981
15-10689	BIG BEND PARTNERSHIP	23K631102
15-10690	BIG BEND PARTNERSHIP	23K631124
15-10691	LAYTON FAMILY LLC	23K640724
15-10692	PIZZAZZ COMMERCIAL LLC	23M120361
15-10693	ASGARD PARTNERSHIP A MOGEN PTNSP	23M120408
15-10694	STEINER SUZANNE H TRUSTEE ETAL	23M120453
15-10695	PIZZAZZ COMMERCIAL LLC	23M120509
15-10696	KIRKWOOD HOUSING PARTNERSHIP A MO GENERA	23M120875
15-10697	ASGARD PARTNERSHIP A MO GEN PTNSP	23M121113
15-10698	KIRKWOOD HOUSING PARTNERSHIP	23M121151
15-10699	PIONEER LAND LLC	23M140455
15-10702	SUNTRUP WILLIAM N TRUSTEE ETAL	23Q431317
15-10703	SUNTRUP WILLIAM N TRUSTEE	23Q431371
15-10704	THOMAS NELLIE M     TRUSTEE ETAL	23Q431564
15-10705	1011 BUILDING INC	23Q510517
15-10706	Signs of Snowmass LLC	23Q530665
15-10707	MARQUART DUANE J ELAINE     H/W	23Q540419
15-10708	TAYCO OLD ORCHARLD JUNIOR L C	23Q630194
15-10709	BERNAY REALTY L L C	23R540786
15-10710	DOUROS IRENE V TRUSTEE	23R540896
15-10712	ALS PROPERTY HOLDINGS LLC	23S430275
15-10713	DAU THE HOUSE FURNISHER INCORPORATED	23S440164
15-10714	U-GAS STL BALLWIN LLC	23S540514
15-10715	U S BANK N A	23S540660
15-10716	POSTOL PROPERTIES LLC	23S540725
15-10717	FRISELLA PROPERTIES L L C	23S640254
15-10718	ILLINOIS STATETRUST CO ACORP IL	23T440141
15-10719	MIDWEST EQUITIES INC	23T530862
15-10720	Clarkson Manchester LLC	23T531023
15-10721	M G M GIBSON ENTERPRISESINC	23T640396
15-10722	ESSEN DONALD F     TRUSTEE	23T640495
15-10723	MCW RD WILDWOOD CROSSING LLC	23U120480
15-10724	ELECTRO SAVINGS CREDIT UNION	23U120509
15-10725	WESTWOODS CENTER III L L C A MISSOURI LI	23U331031
15-10726	SPENCER PROPERTIES L L C	23U340132
15-10727	R & M PARTNERSHIP	23U340161
15-10729	MONOLO TIMOTHY C	23U640432
15-10730	FRONTIER PETRO LLC	23V120083
15-10731	WAYSIDE MOTEL INCORPORATED	24K340762
15-10732	WAYSIDE MOTEL INCORPORATED	24K340872
15-10733	L C L B INVESTMENTS L L C	24L610752
15-10734	DANCO ENTERPRISES L L C	24M110965
15-10735	DANCO ENTERPRISES L L C	24M110974
15-10736	STOUT EVERETT   JUDITH     H/W	24M111087
15-10737	STOUT EVERETT F JUDITH K   H/W	24M111098
15-10738	STOUT EVERETT F JUDITH K   H/W	24M111102
15-10739	MUCKLER NUTRITION INC	24M120737
15-10740	KOP LLC	24M121121
15-10741	UHLEMEYER GARY G     TRUSTEE	24M121174
15-10742	UHLEMEYER GARY G     TRUSTEE	24M121240
15-10743	KIRKWOOD OFFICE PROPERTIES LLC	24M141352
15-10744	RRS REAL ESTATE HOLDINGS LLC	24M240150
15-10746	NERI L L C	24M441928
15-10747	J C L B INVESTMENTS L L C	24M441937
15-10748	CROONER LLC	24M443177
15-10749	MCDONALDS REAL ESTATE COMPANY	24M443199
15-10750	RRS REAL ESTATE HOLDINGS LLC	24M520834
15-10751	ST LOUIS CAR WASH PROPERTIES LLC	24P210150
15-10754	MONOLO REAL ESTATE LLC	24R310931
15-10755	AEI INCOME & GROWTH FUND XXI LIMITED	24S320793
15-10756	AFFTON GRAVOISL L C	25H131033
15-10757	NAYR PROPERTIES L L C	25J210069
15-10758	GORDON JOHN D	25J221704
15-10759	ELLSWORTH BREIHAN BUILDING COMPANY	25K530960
15-10760	MCW R D CRESTWOOD COMMONS LLC	25L140562
15-10761	STELMACH PROPERTIES LLC	25L610247
15-10762	U GAS STL SUNSET HILLS LLC	25M110043
15-10763	LUTHERAN CHURCH EXTENSION FUND-MO SYNOD	25M130645
15-10764	NISMARK L L C	25M141544
15-10765	SYBERGS WATSON PROPERTY L L C	25M220634
15-10766	WESTMOOR INVESTMENTS LLC	25M340031
15-10767	WESTMOOR INVESTMENTS LLC	25M340042
15-10768	ODONNELL FRANCIS E JR & KATHLEEN E H/W	25M442623
15-10769	ODONNELL FRANCIS E JR & KATHLEEN E H/W	25M442632
15-10770	ODONNELL FRANCIS E JR & KATHLEEN E H/W	25M442683
15-10771	JONES JOHN M DIXIE L   H/W	25O310131
15-10772	WULFERS FAYE FRANCINE TRUSTEE	25O330063
15-10773	BOHN & DAWSON INCORPORATED	25O420054
15-10774	Edinburgh Limited	25O420285
15-10775	C J D S INVESTMENTS LLC	25O420351
15-10776	SAUER PROPERTIES II L L C A MO LIMITED L	25O420362
15-10777	GW MANAGEMENT GROUP L L C	25Q640214
15-10778	POOLED ASSETS LLC	26H520625
15-10779	Pulaski Bank	26H520634
15-10780	MACKENZIE OFFICE PARTNERSLLC	26J231652
15-10781	MACKENZIE OFFICE PARTNERSLLC	26J231674
15-10782	MACKENZIE OFFICE PARTNERSLLC	26J231685
15-10783	MACKENZIE OFFICE PARTNERSLLC	26J231696
15-10784	MACKENZIE OFFICE PARTNERSLLC	26J231704
15-10785	MACKENZIE OFFICE PARTNERSLLC	26J231713
15-10786	MACKENZIE OFFICE PARTNERSLLC	26J231722
15-10787	MACKENZIE OFFICE PARTNERSLLC	26J231731
15-10788	MACKENZIE OFFICE PARTNERSLLC	26J231740
15-10789	MACKENZIE OFFICE PARTNERSLLC	26J231751
15-10790	MACKENZIE OFFICE PARTNERSLLC	26J231762
15-10791	MACKENZIE OFFICE PARTNERSLLC	26J231773
15-10792	MACKENZIE OFFICE PARTNERSLLC	26J231784
15-10793	MACKENZIE OFFICE PARTNERSLLC	26J231795
15-10794	MACKENZIE OFFICE PARTNERSLLC	26J231805
15-10795	MACKENZIE OFFICE PARTNERSLLC	26J231814
15-10796	MACKENZIE OFFICE PARTNERSLLC	26J231823
15-10797	NAYR PROPERTIES L L C	26J511558
15-10798	NAYR PROPERTIES L L C	26J531930
15-10799	MCW- RD AFFTON PLAZA LLC	26K640422
15-10800	SVS LLC A MO LTD LIAB CO	26M420662
15-10801	ADAMS PROPERTIES L L C	26M440352
15-10802	LINDBERGH INVESTMENTS LLC	26M441089
15-10803	SUNSET VILLAGE CONDOMINIUM LLC	26M441133
15-10804	SUNSET VILLAGE CONDOMINIUM LLC	26M441144
15-10806	KEN ENTERPRISES L P	26O110251
15-10807	U GAS INVESTMENTS BOLGER COURT LLC	26O120371
15-10808	BROTCKE JACKLYN K     TRUSTEE	26O210351
15-10809	Merus Corporation	26O210395
15-10810	FENTON REALTY L P	26O210616
15-10811	Lawlor Land Company	26O220433
15-10812	507 RUDDER ROAD L L C	26O310132
15-10813	RBS INVESTMENTS OF MISSOURI LLC	26O641353
15-10814	1800 BOWLES AVE L L C	26P310405
15-10815	1800 BOWLES AVE L L C	26P310414
15-10816	PEBCAK L L C	26P320415
15-10818	MERAMEC STATION HOLDINGS LLC	26Q620752
15-10819	MCHUGH STEVEN R SUSAN M   H/W	26Q630818
15-10820	224 MERAMEC STATION L L C	26Q641032
15-10821	PRIMARY LEASING L L C	27H110755
15-10822	HILL JOSEPH C VIRGINIA M   H/W TRUSTEES	27H120417
15-10823	ALS PROPERTY HOLDINGS LLC	27H221097
15-10824	ALPHA CEMENT PROPERTY ACQUISITION CO	27J110147
15-10825	ALPHA CEMENT PROPERTY ACQUISITION CO	27J110257
15-10826	BUDROVICH REAL ESTATE L L C	27J130091
15-10827	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J210050
15-10828	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J210061
15-10829	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J210126
15-10830	BUDROVICH REALESTATE L LC	27J210137
15-10831	ALPHA CEMENT PROPERTY ACQUISITION COMPAN	27J230663
15-10832	HENDRICKSON JOHN L BILLIE D   H/W TRUSTE	27K120035
15-10833	NICO PROPERTIES I L L C	27L310730
15-10834	NICO PROPERTIES I L L C	27L310741
15-10835	STUHLMANN SHIRLEY V     TRUSTEE	27L410566
15-10836	LUEDDE JAY CLARKSON TRUSTEE	27L410904
15-10837	STOTLER WAYNE   DAWN     H/W	27L530664
15-10838	CONKLIN FLOYD D LIVING TRUST	27M340660
15-10839	CONKLIN FLOYD D LIVING TRUST	27M340671
15-10840	CONKLIN FLOYD D LIVING TRUST	27M340682
15-10841	CONKLIN FLOYD D LIVING TRUST	27M340693
15-10842	KELLY ROBERT J     TRUSTEE	27M340707
15-10843	JD ASSOCIATES A MO PTNSP	27M340716
15-10844	CONKLIN FLOYD D LIVING TRUST	27M340734
15-10845	CONKLIN FLOYD D LIVING TRUST	27M340743
15-10846	CONKLIN FLOYD D LIVING TRUST	27M340752
15-10847	CONKLIN FLOYD D LIVING TRUST	27M340761
15-10848	CONKLIN FLOYD D LIVING TRUST	27M340770
15-10849	FANGER & ASSOCIATES L L C	27O420056
15-10850	GARRETT PROPERTIES L L C	27O440212
15-10851	GGJB PROPERTIES L L C	27O510092
15-10852	CHAPTER 100 ST LOUIS COUNTY MISSOURI	27O510135
15-10853	STARHILL ACRES LLC	27O520079
15-10854	LONGWOOD HOLDINGS LLC	27O520123
15-10855	APPRILL JAMES H     TRUSTEE	27O520134
15-10856	B & J FAMILY LIMITED PARTNERSHIP	27O530364
15-10857	Equipment Leasing Company	27O540165
15-10858	CLAYTON CORPORATION OF DELAWARE	27O610466
15-10859	STARHILL ACRES LLC	27O610565
15-10860	STARHILL ACRES LLC	27O610642
15-10861	WCS Headland LLC	27O640276
15-10862	NR PROPERTIES LLC	27O640331
15-10863	R V B & ASSOCIATES L L C	28H221625
15-10864	RVB & ASSOCIATES L L C	28H221634
15-10865	RUZICKA THOMAS C LYNNE M   H/W	28J340345
15-10866	BUDROVICH REAL ESTATE L L C	28J440391
15-10867	STL WAREHOUSING L L C	28J440467
15-10868	BREIHAN-SWANSON INC	28J530238
15-10869	NO 6 LLC A MISSOURI LIMITED LIABILITY CO	28K320126
15-10870	BI-STATE ASSOCIATES L L C	28K320171
15-10871	BI-STATE ASSOCIATES L L C	28K320225
15-10872	FOREST PARK R E LIMITED PARTNERSHIP	28K320236
15-10873	ACROPOLISPM LINDBERGH LLC	28K330246
15-10874	MUNGENAST DAVID F TRUSTEE	28K330301
15-10875	MUNGENAST DAVID F TRUSTEE	28K330334
15-10876	RAMSEY & ROMINE L L C	28K340597
15-10877	RAMSEY & ROMINE L L C	28K340603
15-10878	11555 CONCORD VILLAGE LLC	28K430214
15-10879	MUNGENAST DAVID F & BARBARA J H/W TRS	28K520953
15-10880	LC REAL ESTATE LLC	28K611011
15-10881	LC REAL ESTATE LLC	28K611077
15-10882	11049 LIN VALLE DRIVE LLC	28K620251
15-10883	SEIBEL PROPERTIES L L C	28L612660
15-10884	Ariel Investment LLC	28L640324
15-10885	10550 BAPTIST CHURCH PLAZA LLC	28L640500
15-10886	RICHARD ENTERPRISES II L L C	28M110402
15-10887	L A J HOLDINGS L L C	28M110442
15-10888	V F P REALTY INC	28M130143
15-10889	FINNEY MICHAEL B & MEGAN A H/W	28N110551
15-10890	FIESER SERVICES INC	28N111101
15-10891	MAURER DEVELOPMENT COMPANY	28N610138
15-10892	MAURER DEVELOPMENT CO	28N631193
15-10893	MAURER DEVELOPMENT COMPANY	28N631203
15-10894	Midwest Bankcentre	28P540770
15-10895	U-GAS INVESTMENTS BOWLES AVENUE LLC	28P630497
15-10896	MARLBOROUGH DEVELOPMENT LL C	29H210303
15-10897	HOUSE VERNON L TRUSTEE	29J420570
15-10898	Southern Commercial Bank	29J430612
15-10899	H & E COMPANY LLC	29J430678
15-10900	BALDRIDGE LAUBER PROPERTIES A MISSOURI G	29J430700
15-10901	HENDRICKSON JOHN L BILLIE D   H/W TRUSTE	29J530097
15-10902	NO 3 L L C	29K310096
15-10903	EXECUTIVE PROPERTIES I LLP	29K310117
15-10904	NO 3 L L C A MISSOURI LIMITED LIABILITY	29K322228
15-10905	NO 3 LLC	29K322273
15-10906	ACROPOLISPM CRESCENT LLC	29K621099
15-10907	U GAS STL TOWNE SOUTH LLC	29L140201
15-10908	VOSS FAMILY LIMITED PARTNERSHIP NO 1 L P	29L140531
15-10909	LAMPLIGHTER SQUARE LLC	29L420369
15-10910	LAMPLIGHTER SQUARE LLC	29L420370
15-10911	U S BANK N A	29V520269
15-10912	U S BANK N A	29V520588
15-10913	PDF LLC	29V611008
15-10914	DUNLEITH HOLDINGS LLC	29V611020
15-10915	RAINBOW FINISHES INC	29W510160
15-10916	R J THROCKMORTON SALES CO INC	29W530146
15-10917	TAYCO TELEGRAPH ROAD L L L P	30H111688
15-10918	KC PROPCO HOLDING I L L C	30H410952
15-10919	MCW RD BUTLER HILL CENTRE LLC	30K130300
15-10920	LUKETICH INC	30K210747
15-10922	TRB MAB INVESTMENTS LLC	30L130080
15-10923	MANNION GROUP V LLC TRUSTEE ETAL	30L140247
15-10924	TESSON FERRY PROPERTY L L C	30L430014
15-10925	CUNA MUTUAL INVESTMENT CORPORATION	30V610151
15-10926	U S BANK N A	31H131029
15-10927	OTTO PARTNERSHIP THE	31H411024
15-10928	NJB INVESTMENTS L L C	32H430475
15-10929	NJB INVESTMENTS L L C	32H430484
15-10930	BUCKS INC	32H430631
15-10931	JERRY MICHEL INC	32H430705
15-10932	K C PROPCO L L C	32J640462
15-10933	DLM PROPERTIES L L C	32K130555
15-10934	BELSAR HOLDINGS L L C	32K210152
15-10935	SPECTRUM CLEANING SERVICES INC	32K240124
15-10936	MERAMEC BOTTOM PROFESSIONAL SUITES	32L230362
15-10937	Southern Commercial Bank	32L240318
15-10938	A 1 LOCKER RENTAL SELF STORAGE L L L P	32L240354
15-10939	A-1 LOCKER RENTAL SELF-STORAGE LLLP	32L240693
15-10940	U GAS STL TELEGRAPH & SUSAN LLC	33H430144
15-10941	NATURE GIFTS INC	33H430621
15-10943	PIPEFITTERS WELFARE EDUCATIONAL FUND	07D220058
15-10944	PIPEFITTERS WELFARE EDUCATIONAL FUND	07D420104
15-10945	PIPEFITTERS WELFARE EDUCATIONAL FUND	07D520039
15-10948	Flower Valley LLC	07H530254
15-10950	FLAGG BROADWAY L L C	07J310305
15-10957	12100 BELLEFONTAINE LLC	08E520699
15-10960	PADDOCK FOREST L L C	08F640356
15-10972	BZ PROPERTIES LLC	08J230369
15-10973	Ariel Investment LLC	08J230912
15-10974	BEHLMANN HARRY E & BARBARA M TRUSTEES	08J411386
15-10975	LEWIS & CLARK MERCANTILEBANK	08J430493
15-10976	AUTO PROPERTIES L L C	08J531077
15-10979	PARK 370 L L C	08M120081
15-10983	TRIPLE J PROPERTIES L L C	09G110079
15-10984	Sanat LLC	09G220574
15-10985	F O C I ENTERPRISE L L C	09H340330
15-10986	F O C I ENTERPRISE L L C	09H340341
15-10989	DUNWOOD DEVELOPMENT COMPANY	09K130083
15-10990	DUNWOOD DEVELOPMENT COMPANY AGEN PTNSP	09K140400
15-10994	LYNCH JAMES R TRUSTEE (LEASE PROPERTY)	09K410440
15-10995	NIKNEJADI JOSEPH H ETAL	09K430899
15-10998	OLIAN H IRVING ETAL	09K441008
15-11005	LC REAL ESTATE LLC	09M620351
15-11006	GREEN POINT L L C A MO LTD LIABILITY COM	09O110399
15-11010	ROLAND PROPERTIES AN ILLINOISL L C	09O230178
15-11011	R T GROUP II L L C	09O230190
15-11012	BRIDGETON PROPERTIES L L C	09O330113
15-11018	PIPEFITTERS WELFARE EDUCATIONAL FUND	10E340593
15-11019	PIPEFITTERS ASSOCIATION LOCAL UNION NO 5	10E340603
15-11022	LC REAL ESTATE LLC	10G440420
15-11023	ALBERTA PROPERTIES 1120 L L C	10J331414
15-11034	Midwest Petroleum Company	10M330270
15-11036	SELECT PROPERTIES INC	10M530122
15-11040	JASSO JOSEPH J	10M610374
15-11042	NETWORKS USA XVIII INC AFL CORP	10N120254
15-11043	STARHILL ACRES LLC	10N140155
15-11046	FRONTENAC INVESTORS INC	10O120136
15-11050	MIDWESTERN CORPORATION ETAL	10O420133
15-11051	MIDWESTERN CORPORATION ETAL	10O420142
15-11054	RIVERPORT PROJECT TRUST BOARD OF TRUSTEE	10P220017
15-11056	BRIEM JAMES J	10P240129
15-11058	NEW AGE HOLDINGS LLC	10P340119
15-11059	BANYAN VENTURES LLC	10P620172
15-11060	K 2 DEVELOPMENT L L C	10P620215
15-11062	P GUO L L C	10P640071
15-11064	U S BANK N A	11J341102
15-11067	MARR I LLC	11N320921
15-11074	MACHINISTS DIST NO 9 BLDGCORP	11N531011
15-11084	U S BANK NATIONAL ASSOCIATION	11O530161
15-11085	International Assn Ht & Fr Insu & Asb	11O620174
15-11090	BOARD OF TRUSTEES OF THE RIVERPORT PROJE	11P320161
15-11095	NGUYEN JAKE &   AMANDA H/W	12G110134
15-11096	NGUYEN JAKE &   AMANDA H/W	12G110143
15-11097	MCDONALDS REAL ESTATE CO	12G130080
15-11098	MCDONALDS CORPORATION	12G130484
15-11113	FOCI Enterprise LLC	12H430033
15-11114	HELLENIC INVESTMENT GOURPLLC	12K110483
15-11115	CHARLES F VATTEROTT COMMERCIAL	12L110901
15-11120	3715 LINDBERGH ASSOCIATES L P	12M141124
15-11121	TSMD PROPERTIES LLC	12M230084
15-11126	J & T INVESTMENT CO	12M421671
15-11130	Fred Weber Inc	12O130025
15-11131	Fred Weber Inc	12O130456
15-11132	SERRA ONOFRIO & LUCREZIA H/W TRUSTEES	12O611331
15-11133	SERRA ONOFRIO & LUCREZIA H/W TRUSTEES	12O620076
15-11134	LYNNMARK INC	13G311617
15-11135	MCDONALDS SOUTH FLORISSANT ROAD DEVELOPM	13H130521
15-11136	NORWOOD HILLS CORPORATION	13H240017
15-11137	NORWOOD HILLS CORPORATION	13H240255
15-11138	NORWOOD HILLS COUNTRY CLUB	13H520232
15-11139	NORWOOD HILLS CORPORATION	13H610043
15-11140	SPRINGDALE MOTEL INC	13J110298
15-11144	RENEHAN RAYMOND P	13K620181
15-11145	LEDERER GAIL ETAL	13L311057
15-11149	ZEGAR ERNESTINE B	13L421604
15-11151	VATTEROTT CHARLES F COMMERCL PROP INC	13L430781
15-11153	CHARLES F VATTEROTT COMMERCIAL	13L430817
15-11156	CHARLES F VATTEROTT COMMERCIAL PROPERTIE	13L431078
15-11165	T & C PROPERTIES LLC	13M440680
15-11166	SCHMITT DANIEL J TRUSTEE ETAL	13M440727
15-11168	WHITAKER BOB ETAL	13N110782
15-11169	NOWACK STANLEY B KATHLEEN M H/W	13N130573
15-11178	CENTERLINE INVESTMENT COMPANY1 LLC	14N130215
15-11185	BOMAC INVESTMENT COMPANY INC	14N340618
15-11187	KERLS JACK W JUDITH F   H/W TRS ETAL	14N420844
15-11195	KIMLER BUILDING & DEV COLLC	14O320394
15-11204	ALBERTA PROPERTIES 6230 L L C	15G112065
15-11218	GMK HOLDINGS LLC	15L630048
15-11219	MILLER DONALD C TRUSTEE	15M220088
15-11222	CENTERLINE INVESTMENT COMPANY3 LLC	15M410092
15-11223	BORMAN CIRCLE ASSOCIATESL L C	15N122374
15-11225	REALVEST PROPERTIES LC	15N130131
15-11237	RUDER GARY E TRUSTEEE	15N440212
15-11240	FSP LAKESIDE CROSSING II LLC	15N542310
15-11241	FSP LAKESIDE CROSSING I LLC	15N542321
15-11246	A V VENTURES L L C	15O340461
15-11251	Century Life of America	15O640341
15-11257	WALLACH ALAN &SHARON SUE H/W	16H230233
15-11258	WALLACH ALAN &SHARON SUE H/W	16H230251
15-11259	SHARAL INVESTMENTS LLC	16H411825
15-11261	MIDWEST ST LOUIS L L C	16J420259
15-11263	WOODSON LLC	16K410149
15-11271	MURPHY GROUP HOLDINGS INC	16L240077
15-11272	MURPHY GROUP HOLDINGS INC	16L240132
15-11276	LOTSIE CORPORATION	16L430674
15-11282	JSR LLC	16M520170
15-11283	MEAD MOR INVESTMENTS L C	16M530036
15-11285	MEAD MOR INVESTMENTS L C	16M540123
15-11288	R J R COMPANY,A JOINT VENTURE	16M610215
15-11289	MAVICE ENTERPRISES L L C	16M610248
15-11297	KYMO PROPERTIES INC	16M640278
15-11298	ALLIANCE EQUITIES PARK 270 L L C	16O540484
15-11304	KARAGIANNIS INVESTMENT CORPORATION	16Q310186
15-11305	GERSHMAN BETTIE     TRUSTEE	16Q331020
15-11307	WOODCHASE PLAZA L L C	16Q340820
15-11308	KNOLL W EDWARD& CHRISTINE M H/W	16R320957
15-11309	VI JON LABORATORIES INC	17H122982
15-11310	VI JON LABORATORIES INC	17H141691
15-11311	MCCARTHY EDWARD J & MARGARET G REVOC	17J321843
15-11314	RUDER DEVELOPMENT CO L L C	17L530467
15-11316	U S BANK N A	17L540642
15-11319	10510 OLD OLIVE L C	17M430267
15-11333	Olde Cabin Holding LLC	17N140350
15-11335	ANIMAL SKIN CLINIC LLC THE	17N510555
15-11342	FORSYTH INVESTMENTS LLC	17O331155
15-11347	OLD BALLAS PEDIATRIC DENTISTRY LLC	17O342122
15-11348	OLD BALLAS PEDIATRIC DENTISTRY LLC	17O342133
15-11355	WESTGATE CENTRE L L C	17O440550
15-11358	AR INVESTMENTS LLC	17O440792
15-11363	ROBERTS SUSAN	17O620950
15-11364	CP NORTH II LLC	17O621038
15-11368	Maisha LLC	17R320493
15-11369	DCH LLC	17S110136
15-11371	MUTTERSOHN LLC	17T240166
15-11372	CONSORT COMMERCIAL GROUP L L C ETAL	17T310434
15-11373	CHESTERFIELD GROVE DEVELOPMENT L L C	17T330081
15-11374	GROVE V LLC	17T330092
15-11377	BURGUNDY ARROWLLC	17U230320
15-11379	THREE 5S4 ANASTASIA LLC	17V110441
15-11380	Spirit Aviation Properties LLC	17V120088
15-11381	HOFFMANN EARL R	17V120165
15-11384	AVMATS EXECUTIVE AIR CHARTER LLC LESSEE	17V130230
15-11386	EDISON INVESTORS L L C	17V210079
15-11388	INSITUFORM TECHNOLOGIES LLC	17V220221
15-11392	INSITUFORM TECHNOLOGIES LLC	17V240304
15-11396	CHESTERFIELD VALLEY LLC	17V510038
15-11397	NINE EAST LLC	17V510214
15-11398	EIGHT EAST L L C	17V510258
15-11399	EIGHT EAST L L C	17V510302
15-11402	CENTURION INVESTMENT INCLESSEE	17W320522
15-11405	FORDYCE PROPERTIES LLC	18H410145
15-11409	C & J MANAGEMENT L L C	18J130521
15-11410	Hammond Sheet Metal Company	18J521329
15-11414	ROTHSCHILD ASSOCIATED LLC	18K310283
15-11416	7801 FORSYTH L L C	18K320479
15-11418	7800 MARYLAND L L C	18K320710
15-11419	MARYLAND AVENUE ASSOCIATES LLC	18K320798
15-11420	7 & 9 NORTH BEMISTON L L C	18K320952
15-11421	GJO PROPERTIES L L C	18K330478
15-11429	DELMAR GARDENSAT CONWAY RIDGE L L C	18R110837
15-11430	EMERALD I L L C ETAL	18S230181
15-11432	T G RANKIN COMPANY INC	18U430114
15-11435	JSB CLAYTON L L C	19K220666
15-11436	ST CLAIR INVESTMENT COMPANY	19K231039
15-11438	VARWIG STEPHEN D FAITH A   H/W	19K320458
15-11439	VARWIG FAITH ADELE	19K320623
15-11442	TWO THIRTY SOUTH BEMISTON ASSOC	19K640536
15-11443	BURCH PROPERTIES INC A MISSOURI CORP	19K640734
15-11444	TWO THIRTY SOUTH BEMISTON ASSOC	19K641416
15-11445	TWO THIRTY SOUTH BEMISTON ASSOC	19K641427
15-11446	EPM CARONDELET LLC	19K641449
15-11447	EPM CARONDELET LLC	19K641450
15-11449	LADUE MARKET INC	19L330160
15-11450	MELROSE FAMILY LLC THE	19L330171
15-11453	MILLER MISS PAC L L C	19M310512
15-11454	MILLER MISS PAC L L C	19M321271
15-11455	FRC CLUB LLC	19M411459
15-11456	FRC CLUB LLC	19M411482
15-11457	CAMPBELL RICHARD A & DOXEY S H/W	19M421151
15-11461	OLD FRONTENAC SQUARE L L C	19M421535
15-11462	JOE GARAVELLI’S CAFETERIAINC	19M441016

 

^[1] A complete list of appeals is attached as Decision Exhibit A

^[2] Two sets of Complainants presented evidence at the hearing as to the ratio of assessment of Commercial properties.  The groups were labeled by the parties for ease of reference as “PAR” Complainants and “Sansone” Complainants.  Complainants are in the “PAR” group.  Exhibits filed on behalf of Sansone group are listed at the end of this Decision and Order.

^[3] IAAO stands for the International Association of Assessing Officers.  Its members include government assessment officials and others interested in the administration of the property tax. They provide education, resources and standards for ad valorem taxation.

^[4] Witness Robert Gloudemans also testified at the ratio hearing.   Gloudemans is the expert witness for Complainants (“Sansone” Complainants) represented by Attorney Thomas Campbell.  Gloudemans has training, experience and education in the field of appraisal, mass appraisal and mass appraisal review.  The witness conducted a ratio study for the 2015 commercial properties in St. Louis County.