5th & Wood Realty Corp. Tax Assessment Case

Supreme Court of Pennsylvania

5th & Wood Realty Corp. Tax Assessment Case

235 A.2d 798, 426 Pa. 577, 1967 Pa. LEXIS 610

CourtSupreme Court of Pennsylvania

DecidedSeptember 26, 1967

DocketAppeal, No. 3

StatusPublished

Cited by3 cases

This text of 235 A.2d 798 (5th & Wood Realty Corp. Tax Assessment Case) is published on Counsel Stack Legal Research, covering Supreme Court of Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

5th & Wood Realty Corp. Tax Assessment Case, 235 A.2d 798, 426 Pa. 577, 1967 Pa. LEXIS 610 (Pa. 1967).

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Opinion

Opinion by

Mb. Justice Cohen,

In this appeal by the Board of Property Assessment, Appeals and Review of Allegheny County (Board) the issues are identical with those presented in the appeal of the Board in the case of property owned by Massachusetts Mutual Life Insurance Company decided this day. The assessment was $2,566,700; the expert witness for the taxpayers testified to a fair market value of $2,400,000; the Board’s witness testified to an “actual market value” of $4,000,000; and the court below found tile fair market value to be $3,000,000. ' It then reduced this figure to an assessment of $1,320,000 by application of the common level ratio of assessed value to market value for the triennium 1963, 1964 and 1965 of 44%.

What we have said in the Massachusetts Mutual case applies- here as well. The order of the court below is affirmed.

Mr. Justice Eagen dissents.

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Opinion by

Mb. Justice Cohen,

In this appeal by the Board of Property Assessment, Appeals and Review of Allegheny County (Board) the issues are identical with those presented in the appeal of the Board in the case of property owned by Massachusetts Mutual Life Insurance Company decided this day. The assessment was $2,566,700; the expert witness for the taxpayers testified to a fair market value of $2,400,000; the Board’s witness testified to an “actual market value” of $4,000,000; and the court below found tile fair market value to be $3,000,000. ' It then reduced this figure to an assessment of $1,320,000 by application of the common level ratio of assessed value to market value for the triennium 1963, 1964 and 1965 of 44%.

What we have said in the Massachusetts Mutual case applies- here as well. The order of the court below is affirmed.

Mr. Justice Eagen dissents.

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Bluebook (online)

235 A.2d 798, 426 Pa. 577, 1967 Pa. LEXIS 610, Counsel Stack Legal Research, https://law.counselstack.com/opinion/5th-wood-realty-corp-tax-assessment-case-pa-1967.

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