Federal Reserve Bank of Minneapolis v. County of Hennepin

COYNE, Justice.

Relator Federal Reserve Bank of Minneapolis seeks review by certiorari of an order of the tax court, claiming that the assessments of its property for tax years 1981 and 1982 are based on excessive market values. The tax court affirmed the assessor’s estimated market value of $36,-000,000 as of January 2, 1981 and reduced the estimated market value as of January 2, 1982, from $39,000,000 to $38,250,000. We affirm.

The Federal Reserve Building, constructed in 1973 at a cost of approximately $34,-000,000, occupies one entire square block in downtown Minneapolis. The structure was…