In Re Taxes Onomea Sugar Co.

OPINION OF THE COURT BY

PERRY, C. J.

The Onomea Sugar Company, Limited, returned its property for taxation as of January 1, 1927, at $3,540,000. The tax assessor assessed the property at $4,335,000. Upon appeal by the taxpayer the tax appeal court rendered a decision valuing the property at $3,815,396.10. Both parties appealed to this court from the decision of the tax appeal court. The property was returned and assessed at its aggregate value as an enterprise for profit. The evi deuce of the taxpayer shows that the area of its cane lands, owned in fee simple, is 6298.9 acres, while it is…