In re Assessment of Taxes, Mehrten

OPINION OF THE COURT BY

FREAR, C,J.

This is an appeal by the Tax Assessor from the assessment by the Tax Appeal Court of a lot in Honolulu having a frontage of 315 feet on Alabea street, 32 feet on Queen street and 97 feet on Halebauwila street, and an area of 18,987 square feet. The lot is subject to a lease made in January, 1895, for fifteen years at an annual rental of $900. It seems not to be disputed that the lot, if unincumbered by the lease, would be worth $25,000. The value of the landlord’s interest would be $7,200 if estimated by the eight year rule. Civ. L. Sec. 820. This is the…