Alstores Realty, Inc. v. State

Murphy, Justice.

This is an appeal from an order of the district court denying petitioner’s motion for a new trial in proceedings instituted by petition for review of 1966 real property tax assessments pursuant to Minn. St. 278.01. Petitioner contends that the assessor’s determination of value of the property for tax purposes is in error in that it fails to take into consideration factors relating to market value, as reflected by sales of comparable property, income or return on the owner’s investment, and cost of replacement. Petitioner also contends that the trial court’s reduction of the…