High Court rules for Riverhouse in tax case

The Oregon Supreme Court has upheld a decision by the Oregon Tax Court in favor of River’s Edge Investments LLC, the owner of the former Riverhouse Hotel and Convention Center in Bend.

The case centered on the value of the convention center for property tax purposes in the 2008-09 tax year, according to the Supreme Court opinion released Thursday. In 2014, the Tax Court ruled against the Oregon Department of Revenue and its convention-center appraisal, which was nearly four times higher than the one offered by River’s Edge Investments. The Supreme Court upheld the ruling in favor of River’s Edge and sent the case back to the Tax Court for further proceedings.

In March 2015, the hotel and convention center were sold to Vesta Hospitality, of Vancouver, Washington. The company renovated the property and renamed it Riverhouse on the Deschutes.


Source: BB Real Estate – listStories1

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