§235-31  Apportionment; property factor;owned and used property.  Property owned by the taxpayer is valued at itsoriginal cost.  Property rented by the taxpayer is valued at eight times thenet annual rental rate.  Net annual rental rate is the annual rental rate paidby the taxpayer less any annual rental rate received by the taxpayer fromsubrentals. [L 1967, c 33, pt of §1; HRS §235-31]