Estate of Street v. State Board of Equalization

FARMER, Judge.

This appeal involves the date of death valuation of certain restricted stock owned by the decedent Gordon P. Street. The Estate of Mr. Street challenged the Assessment Appeals Commission valuation of decedent’s stock in the Chancery Court for Davidson County. The Chancellor upheld the Commission’s findings except for the dollar valuation which he found to be arbitrary and not substantiated by sufficient evidence. The case was remanded to the Commission for further proceedings on the sole issue of actual dollar value of decedent’s stock.

On Mr. Street’s death he owned 62.8 percent…