Nepom v. Department of Revenue

Plaintiff appeals from a decree of the Oregon Tax Court on the ground that her property was over-assessed for the tax years 1969-1970 and 1970-1971. 4 OTR 531 (1971).

The property in question consists of a parcel of land together with improvements in the form of 44 apartment units and a garage, all of which were constructed between 1923 and 1925. Major repairs were made on the apartments in 1969 and the units were producing rental income at the time of the assessment.

The land is located in an M-2 zone, which designates the area as' one for light manufacturing and distribution and it is agreed…