Chapin v. Department of Revenue

CARLISLE B. ROBERTS, Judge.

The plaintiffs appealed from defendant’s Order No. VL 79-147 which affirmed Marion County’s assessed value of real property (Assessor’s Account No. 48347-GOO) for the tax year 1978-1979. The subject property is a one-half acre homesite located on 111.62 acres zoned for exclusive farm use (EFU). The parties agreed that the farm use property had a true cash value of $2,000 per acre.

The parties stipulated that the sole issue to be decided in this suit was the "true cash or market value of the one-half acre homesite.” (Stipulation filed November 5, 1979.) The…