Pennsylvania Rd. v. Porterfield

This is an appeal from a decision of the Board of Tax Appeals determining at $153,455,000, the assessed value for Ohio taxation of the Pennsylvania Railroad Company for 1966 (i. e., its assessed value as of December 31, 1965).

In substance and effect, the method used by the Board of Tax Appeals, in reaching that conclusion for the tax year 1966, was to start with the amount of the tax valuation of the railroad for the tax year 1965, with certain adjustments thereto made by the Board of Tax Appeals and which are hereinafter explained. From this starting figure the cost of materials and…