(dissenting). As the majority correctly points out, county-owned property is exempt from the general property tax authorized by section 70.01, Stats. See Section 70.11(2), Stats. Thus, if the county owns the property in question, that property is not subject to tax. To determine ownership in this context, we must examine the surrounding facts and circumstances of the case to determine which party has the most significant "beneficial interest in the property." Gebhardt v. City of West Allis, 89 Wis. 2d 103, 108, 278 N.W.2d 465, 467 (1979).
This writer cannot agree with the majority's statement that ownership need not be determined. The contractual clause on which the majority bases its opinion is nothing more than an allocation of risk. That is to say, the parties to the contract merely agreed that Midwest assumed the risk of any licenses, fees and taxes that may be levied. It does not follow, however, that Midwest agreed to pay all taxes, whether valid or invalid. Nor does the clause unambiguously state that Midwest admits that it is the beneficial owner.
This writer questions the majority's implicit assumption that two parties, by their contract, can decide whether or not property is taxable. In Gebhardt, the court repeated the rule that " 'taxation or exemption depends not upon the legal title but on the status of the owner of the beneficial interest in the property. In other words, the court always looks to the substance and not to the form.' " Gebhardt, 89 Wis. 2d at 108, 278 N.W.2d at 467 (quoting American Motors Corp. v. Kenosha, 274 Wis. 315, 320, 80 N.W.2d 363, 365 (1957)) (emphasis *365added). Likewise, even if I were to agree, which I do not, that the clause in question unambiguously stated that Midwest was the beneficial owner, this court should not accept the parties' characterization of beneficial ownership, but rather, we should seek to determine the "real or true" owner.
I would affirm the trial court's determination that Milwaukee County was the beneficial owner of the property.
Midwest Development Corp. entered into an agreement with Milwaukee County that Midwest would develop, at its own expense, and operate a ski hill on county land. Crystal Ridge, Inc., by agreement with Midwest, operates the ski hill. As part of the initial development, Midwest allowed for the dumping of landfill at the site. This landfill activity generated revenues, which Midwest and the county split equally by the terms of their agreement. Midwest's portion of the landfill revenues, however, could be used only to further improve the facilities. By the terms of the agreement, the county's approval was required for the design of all buildings and other improvements, the use of the land for activities other than down-hill skiing, and any fees to be charged. The county retained the right to enter the premises at reasonable times, and to use the bridle and cross-country ski path on the land. The agreement set the rental payment to the county as the greater of 3% of gross profits, or $10,000. The lease required Midwest to provide to the county proof of fire and extended coverage insurance of at least 80% of the insurable value of the buildings and other improvements. At the expiration of the lease, the county retained the right to take possession of all permanent improvements except the ski lift, without any compensation to Midwest or Crystal Ridge.
*366I would hold that under Gebhardt, 89 Wis. 2d 103, 278 N.W.2d 465, Milwaukee County is the beneficial owner of the property for the purposes of section 70.11(2), Stats. Thus, I respectfully dissent.