Supreme Court of North Carolina December 13, 1972, 7 (Albemarle Electric Membership Corp. v. Alexander)

BRANCH, Justice.

Appellants contend the State Board of Assessment employed an erroneous method in valuing their property which resulted in their property being valued substantially in excess of its true money value, thereby imposing a confiscatory tax in violation of § 17, Art. 1 (now § 19, Art.