Reynolds Metals Co. v. Department of Revenue

In this appeal by the Department of Revenue (Department) from a decree of the Oregon Tax Court, we are presented with two major issues of fact and one issue of law. We are required to determine the true cash value of the plaintiff taxpayer’s plant, i.e., its buildings and machinery and equipment as of January 1, 1980. The major issues of fact are the dollar value of physical depreciation and the dollar value of functional obsolescence in the plant. The issue of law concerns the proper credit for ad valorem tax purposes for pollution control equipment installed by the taxpayer in 1978-79.

The…