STC Submarine, Inc. v. Department of Revenue

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that the current use of a marine fiber optic cable manufacturing plant was its highest and best use based on evidence of “a strong active market for marine fiber optic cable”
• rejecting argument that the department erred by failing to deduct for superadequacies because the special features were designed to accommodate the property’s highest and best use, thereby increasing its market value
• discussing the distinction between highest and best use analysis and valuation
• “The nonexistence of an immediate market for a marine fiber optic cable manufacturing plant on the assessment date does not necessarily mean that taxpayer’s existing use of the building and structures is not the highest and best use.”
• “[t]he department’s evidence that, as of the assessment date, a market demand continued to exist for taxpayer’s products and services supports the department’s conclusion that taxpayer’s existing use of its building and structures was their ‘highest and best use’ ”
• discussing value concepts including “use value” and “investment value”

Source: CourtListener parenthetical corpus (CC0).