Inland Steel Co. v. State Board of Tax Commissioners

Inland Steel Company (Inland) appeals the final determination of the State Board of Tax Commissioners (State Board) fixing the assessed value of its property (Plant 2) as of March 1, 1993. Inland presents several issues for this Court’s consideration. The Court consolidates and restates these issues as follows:

I. Whether the State Board properly calculated Plant 2’s functional obsolescence due to excess construction costs, excess operating expenses, and excess inventory and capital costs;

II. Whether the State Board applied the appropriate model in calculating the base reproduction costs for…