Hercules, Inc. v. State Tax Commission

KAROHL, Judge.

This appeal concerns the 1985 appraisal for ad valorem taxation purposes of appellants’ chemical plant located in Pike County, Missouri. On January 1, 1985 the entire parcel was owned by Hercules, Inc., and contained a chemical plant. During the year of 1985, Hercules sold a portion of the property to Ireco, Inc. The Pike County assessor valued the parcel as a whole at $17,834,860. Both Hercules and Ireco appealed this valuation to the Board of Equalization, which determined a new value of $11,103,455. Both Hercules and Ireco then appealed to the State Tax Commission. The…