In Re the Tax Appeals of Amfac, Inc.

OPINION OF THE COURT BY

RICHARDSON, C.J.

The questions presented in this interlocutory appeal are 1) whether the state director of taxation has discretion under Chaptér 246, HRS (1976) to utilize methods of valuation in addition to the replacement cost approach in determining the fair market value of buildings for real property tax purposes, and 2) if so, whether his failure to consider the utilization of alternative methods necessarily constitutes a basis for adjustment of an assessment. Appellant AMFAC, INC. (taxpayer) argues that these questions must be an swered in the affirmative in view…