Cox v. Department of Revenue

CARL N. BYERS, Judge.

Plaintiff appeals the 1991 assessed value of vacant land. The market value of the land lies in its potential as a residential building site. The question is whether a bramblebush of government regulation will permit that value to be realized.

The subject land fronts on N.W. Luray Terrace in Portland. While the basic zoning is for residential use, the neighborhood is subject to an environmental overlay. The city ordinance imposing the overlay provides:

“A. General. The City has identified and inventoried natural resources and their public value. Some natural resource areas…