Westward Properties, Inc. v. Department of Revenue

Edward H. Howell, Judge.

The issue in this case is the true cash value of 855 acres of land which the plaintiff has leased from the Port of St. Helens in Columbia County. The tax year is 1968-69.

The true cash, value of $969,000 found by the assessor was approved by the tax commission. The plaintiff contends that the true cash value of the property is $607,900.

The plaintiff, a subsidiary corporation of Kaiser Industries, Inc., leased the property from the Port of St. Helens in August, 1967. The lease is for a term of 99 years and the plaintiff is obligated to pay $77,500 per annum for the first…