Mayagüez Sugar Co. v. Bonet

Mr. Justice De Jesús

delivered the opinion of the court.

For the purpose of levying the tax on plaintiff’s property for the fiscal year 1938-1939, the Treasurer of Puerto Bico appraised the buildings and machinery for the manufacture of sugar at $303,400. The plaintiff appealed to the Board of Review and Equalization which reduced the appraisal to the amount of $296,000. Claiming that the market value of the buildings and machinery was $150,250 on January 15, 1938, the plaintiff paid under protest the tax as reduced by the Board, and brought this action in the district *700court for the return of…