Hawaiian Land Co. v. Kamaka

OPINION OF THE COURT BY

KOBAYASHI, J.

This case has been submitted to this court on an agreed statement of facts and proposed alternative forms of judgment.1 This submission deals with a problem resulting *656from a long standing dispute between Hawaiian Land Company, Ltd., and Dillingham Corporation (petitioners) and the Director of Taxation, State of Hawaii (Tax Director), concerning the valuation of the Ala Moana Center, owned by the Dillingham Corporation, for real property tax purposes.

The following are some of the relevant facts:

From 1963 to and including 1973, the petitioners have paid,…