First Interstate Bank of Oregon, N.A. v. Department of Revenue

CARL N. BYERS, Judge.

This is an ad valorem tax case concerning 32 residential subdivision lots and a parcel identified as Tract C. The subject property comprises most of the Spencer’s Crest Subdivision which is located in the south hills area of the City of Eugene. Selected during a building boom period, the site is objectively a poor one for subdivision. The subdivision was platted as a planned unit development (PUD), which permits privately owned streets because it is too steep for all of its streets to be city maintained. A number of the lots are on steep slopes and would require higher…