Folsom v. County of Spokane

Callow, J. —

This case concerns the proper method of assessing property subject to a long-term commercial lease. We reaffirm our prior holding, Folsom v. County of Spokane, 106 Wn.2d 760, 725 P.2d 987 (1986), that both the lessor's and the lessee's interests should be valued by adding the capitalized value of the contract rent to the present value of the leasehold bonus.

Facts

The underlying facts are undisputed and are set forth in the stipulated facts, dated March 27, 1987, and in the trial court's findings of fact and conclusions of law, dated April 9, 1987, generally, as follows:

Plaintiffs…