Publishers Paper Co. v. Department of Revenue

Plaintiff appeals from a decree ① of the Oregon Tax Court sustaining an order of the Oregon Department of Revenue ② establishing the value of plaintiff’s real property as of January 1,1971. The subject property is an integrated lumber and plywood mill complex located in southeastern Portland. The parties to this litigation are in substantial agreement as to the determinants of value of this property with the exception of one factor: the effect upon fair market value of special functional obsolescence caused by incurable site deficiencies. Both agree that the plant must be valued by the…