EDWARD VALVES, INC. v. WAKE COUNTY

No. 34PA95.

471 S.E.2d 342 (1996)

343 N.C. 426

EDWARD VALVES, INC., a Delaware corporation v. WAKE COUNTY, and Emmett Curl, in his capacity as Wake County Assessor.

Supreme Court of North Carolina.

June 13, 1996.


Attorney(s) appearing for the Case

Womble Carlyle Sandridge & Rice, P.L.L.C. by Pressly M. Millen, Raleigh, for plaintiff-appellee.

Shelley T. Eason, Deputy County Attorney, for defendant-appellants.

Johnson, Mercer, Hearn & Vinegar, P.L.L.C. by Charles H. Mercer, Jr., Raleigh, on behalf of North Carolina Citizens for Business and Industry, amicus curiae.

Johnson, Mercer, Hearn & Vinegar, P.L.L.C. by Samuel H. Johnson, Raleigh, on behalf of Capital Associated Industries, Inc., amicus curiae.

Smith Helms Mulliss & Moore, L.L.P. by Charles F. Bowman, Charlotte, on behalf of the Charlotte Chamber of Commerce, Inc., and its Manufacturing Council, amicus curiae.


ORR, Justice.

This case arises out of the sale of assets by plaintiff Edward Valves, Inc. ("Taxpayer") to BTR-Dunlop, Inc. and concerns the alleged overassessment of Taxpayer's personal and real property for tax year 1990. Since 1964, Taxpayer has manufactured specialty valves for the nuclear and fossil fuel power plant industry in a manufacturing facility located in Raleigh, North Carolina. Until 10 March 1989, Taxpayer operated as a part of the Measurement and Flow...

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