Gangle v. Department of Revenue

The owner of Ya-Po-Ah Terrace Retirement Center (taxpayer), a 222-unit apartment building operated as a nonprofit home for the elderly, appeals a valuation decision of the Tax Court for the 1991-92 tax year. Gangle v. Dept. of Rev., 13 OTR 10 (1994). The issue presented concerns the proper interpretation of a tax valuation statute, ORS 308.490. Specifically, taxpayer and the Tax Court disagree about whether ORS 308.490(2)(b) requires deduction of depreciation from gross income before completing a calculation of value under that statute.

ORS 308.490 provides, in part:

“(1) The Legislative…