In the early 1990s, Miami Beach Ocean Resort acquired and began renovating a hotel built in the 1940s. Renovation were not completed by Jan. 1, 1992, the date at which property is assessed for tax purposes. The tax appraiser, Joel Robbins, assessed the property at more than $6 million for the tax year, but the Value Adjustment Board reduced this to $50,000. Robbins sued, and the trial judge reinstated his assessment. The Third District Court affirmed.