City and County of Honolulu v. Steiner

OPINION OF THE COURT BY

KLEIN, J.

The City and County of Honolulu (the City) appeals from a Tax Appeal Court ruling on the assessed fair market value of the ocean-front Black Point Road property of Mary P. Steiner, trustee (Steiner) for the 1988-89 and 1989-90 tax years. The City objects to the valuation of the Tax Appeal Court because: (1) the City believes that the court disregarded sales to Japanese buyers in determining fair market value, and (2) the court applied the Kahala Beach benchmark for a 20,000 sq. ft. 2 lot to only 14,000 sq. ft. of the Steiner property without adjusting the…