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eBook details

• Title: Star-Kist Foods Inc. v. Quinn
• Author : Supreme Court Of California
• Release Date : January 26, 1960
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 60 KB

Description

Star-Kist Foods, Inc., leases certain land and improvements owned by the city of Los Angeles and located within its boundaries. Its leases were made before our decision in De Luz Homes, Inc. v. County of San Diego, 45 Cal. 2d 546 [290 P.2d 544], became final and were not extended or renewed thereafter. Section 107.1 of the Revenue and Taxation Code provides that such leasehold interests should be evaluated for purposes of taxation at an amount equal to the excess, if any, of the value of the interest, as determined by the formula contained in the De Luz opinion, over the present worth of the rentals to become due under the lease during its unexpired term. The assessor of Los Angeles County, however, assessed Star-Kists leasehold interests without deducting the present worth of rentals for the unexpired terms, on the ground that section 107.1 is void because inconsistent with section 1 of article XIII and section 12 of article XI of the California Constitution.

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