In Re the Tax Appeal of Valley of the Temples Corp.

OPINION OF THE COURT BY

MENOR, J.

The appellant, Director of Taxation for the State of Hawaii [hereinafter the State], appeals from a final judgment and order of the Tax Appeal Court in favor of Valley of the Temples Corporation [hereinafter the Taxpayer].

The facts relevant to this appeal are as follows: The State assessed the Taxpayer’s land and improvements thereon at a value of $1,996,348.00 for the real property tax year 1972-1973, following normal assessment procedures. The Taxpayer filed a timely notice of appeal to the Board of Review for the First Taxation Division [hereinafter the…