United States National Bank v. Department of Revenue

BERNARD SHEVACH, Judge pro tempore.

Plaintiff appeals from defendant’s Order No. IH 77-8, dated April 13, 1978. In that order, defendant, on plaintiff’s appeal from the valuation of the subject property, issued by the Estate Audit Section of the Department of Revenue, determined that the property value was $970,000 and that plaintiff owed additional inheritance taxes based upon that assessment. In its complaint, plaintiff alleged that the fair market value of the property was not greater than $264,230. At the trial, the plaintiff’s appraisers testified that its true cash value was in the sum…