PUBLISHERS PAPER CO. v. DEPT. OF REVENUE

TC 1183-1186; SC 27543-27546.

644 P.2d 1089 (1982)

292 Or. 836

PUBLISHERS PAPER CO., et al., Boise Cascade Corporation, et al., Weyerhaeuser Company, et al., Weyerhaeuser Company, et al., Appellants, v. DEPARTMENT OF REVENUE, State of Oregon, Respondent.

Supreme Court of Oregon, In Banc.

Decided April 20, 1982.


Attorney(s) appearing for the Case

John R. Hay, Portland, argued the cause for appellants. With him on the briefs were Manley B. Strayer, and Stoel, Rives, Boley, Fraser & Wyse, Portland.

Alfred B. Thomas, Salem, argued the cause for respondent. On the brief were Dave Frohnmayer, Atty. Gen., and Alfred B. Thomas, Asst. Atty. Gen., Salem.


PETERSON, Justice.

In this case we are required to find the fair market value of something which, by itself, is almost never bought and sold and yet is one of the most valuable resources of Oregon. The thing is bare forest land in western Oregon, and there are over five million acres of it. Our responsibility is to determine its true cash value as of January 1, 1977.

Beginning in 1962, the Department of Revenue (herein referred to as "Department") and its...

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