Foreman & Clark of Iowa, Inc. v. Board of Review of City of Cedar Rapids

McGIVERIN, Justice.

This appeal involves the 1977 assessed valuation for taxation purposes of the Foreman and Clark building in downtown Cedar Rapids. The assessor set the building and land valuation at $191,246. Plaintiff owners and tenant (taxpayers) protested to the board of review. After a hearing the board overruled the protest. Upon taxpayers’ appeal in equity to the district court, the court reduced the assessment to $150,000. The board appeals to us. We affirm.

The following questions are presented for our review:

1. Was the installment sale contract of the subject property competent…