Legal Opinion
Wilsonville Heights Assoc., Ltd. v. Department of Revenue
Oregon Tax Court
Decided August 7, 2003No. TC 4262PublishedCited by 2 opinions
1Opinion of the Court
HENRY C. BREITHAUPT, Judge.
I. FACTS
Plaintiff (taxpayer) owns a 24-unit apartment project biiilt in 1985-86. The property is located in Wilsonville, Oregon. The property was constructed with financing obtained under section 515 of the Housing Act of 1949 (515 Program or 515 Project). See 42 USC § 1485 (1990).
Under the 515 Program, as it existed during the tax years at issue, 1992-93, 1993-94, and 1994-95, developers obtained financing for construction of apartment projects in rural areas on the following basic terms:(1) The project owner contributed 5 percent of the project cost.(2) The…
2Cases cited15 opinions
- Philadelphia Park Amusement Co. v. United StatesUnited States Court of Claims · 1954
- Englewood Cliffs v. Estate of AllisonNew Jersey Superior Court Appellate Division · 1961
- Tualatin Development Co. v. Department of RevenueOregon Supreme Court · 1970
- Chart Development Corporation v. Department, RevenueOregon Tax Court · 2001
- Truitt Bros. v. Department of RevenueOregon Supreme Court · 1987
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3Cited by2 opinions
- Wilsonville Heights Assoc. v. Department of RevenueOregon Supreme Court · 2005
- Dept. of Rev. v. Butte Creek Associates IOregon Tax Court · 2006