Rockwell International Corp. v. Clay

OPALA, Vice Chief Justice.

The Tulsa County Assessor and Equalization Board appeal from the trial court’s ruling that a private leasehold interest in tax-exempt property may not be assessed for ad valorem levy. Two issues are presented for review: (1) May a private leasehold estate in tax-exempt city-owned property be taxed ad valorem to the lessee? and (2) May appellee’s [Terminal Drive’s] leasehold interest be exempt from ad valo-rem tax as property acquired by a municipality for airport purposes pursuant to the provisions of 3 O.S.1981 § 65.17? 1 We answer the first question in the negative…