Truitt Brothers, Inc. v. Dept. of Rev.

ON PETITION FOR REHEARING

CARL N. BYERS, Judge.

Defendant filed a petition for rehearing seeking correction of the court’s opinion which was entered in this case on August 7,1985. The court agreed to hear arguments on two points raised in defendant’s petition. Arguments of counsel were heard on October 18,1985.

The first argument made by defendant concerned economic obsolescence attributable to the land by virtue of a different higher and best use. In its opinion, the court adopted defendant’s estimate of depreciated reproduction cost (DRC) from which was deducted plaintiffs estimate of economic…