Carlson

*1008 Opinion

Introduction

This action follows a proceeding before respondent Assessment Appeals Board I for the County of Santa Clara (Board) in which the Board reduced the tax assessment on property owned by real party in interest, Walton Distribution Services, Inc. (Walton). Plaintiff Alfred E. Carlson, Assessor of the County of Santa Clara (Assessor), filed a petition for writ of mandate in the superior court to vacate the reduction. The petition was denied and the Assessor has filed a timely appeal.

The question presented is this: Did the Assessment Appeals Board, in determining the “full cash value” of the taxpayer’s property, lawfully give effect to restrictions placed upon the property by agreement of the owner and his seller? We answer in the negative and accordingly reverse the trial court’s judgment denying the assessor’s petition.

Facts

On January 1, 1980, Walton entered into a written agreement with Standard Realty and Development Company (Standard) to purchase a 4.9 ácre parcel of unimproved land in Milpitas for $323,830. The agreement required Walton to: construct a warehouse of not less than 60,000 square feet on the property within 2 years or any extension…

I concur in the judgment because I believe the Assessor was correct in his assessment of value based on a proper consideration of comparable properties. However, I concur specially because I believe the majority opinion’s holding concerning the effect of valid deed restrictions is too broad and not essential to the resolution of this matter.

Harvey W. Stein for Real Party in Interest and Respondent.

OPINION

AGLIANO, J. —

This action follows a proceeding before respondent Assessment Appeals Board I for the County of Santa Clara (Board) in which the Board reduced the tax assessment on property owned by real party in interest, Walton Distribution Services, Inc. (Walton). Plaintiff Alfred E. Carlson, Assessor of the County of Santa Clara (Assessor), filed a petition for writ of mandate in the superior court to vacate the reduction. The petition was denied and the Assessor has filed a timely appeal.

The question presented is this: Did the Assessment Appeals Board, in determining the "full cash value" of the taxpayer's property, lawfully give effect to restrictions placed upon the property by agreement of the owner and his seller? We answer in the negative and accordingly reverse the trial court's judgment denying the assessor's petition.

On January 1, 1980, Walton entered into a written agreement with Standard Realty and Development Company (Standard) to purchase a 4.9 acre parcel of unimproved land in Milpitas for $323,830. The agreement required Walton to: construct a warehouse of not less than 60,000 square feet on…