Mittheilungen aus der Geschäfts- und Sterblichkeits-Statistik der Lebensversicherungsbank für Deutschland zu Gotha für die fünfzig Jahre von 1829 - 1878

Valuation, depreciation and the rate base

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Monograph

Identifikator:: 84518458X

URN:: urn:nbn:de:zbw-retromon-94409

Document type:: Monograph

Title:: Mittheilungen aus der Geschäfts- und Sterblichkeits-Statistik der Lebensversicherungsbank für Deutschland zu Gotha für die fünfzig Jahre von 1829 - 1878

Place of publication:: Weimar

Publisher:: Böhlau

Year of publication:: 1880

Scope:: 1 Online-Ressource (88 S., [54] Bl.)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

DETERMINATION OF THE VALUE OF REAL ESTATE 100 which is undoubtedly meant, not what the owner would realize at a forced sale, but the price that he could obtain after rea- sonable and ample time, such as would ordinarily be taken by an owner to make sale of like property.’ . .. But in many instances, as in the case before us, there is no actual demand or current rate of price, either because there have been no sales of similar property, or because the particular piece is the only thing of its kind in the neighborhood, and no one has been able to use it for the purpose for which it is suitable and for which it may be highly profitable to use it. . . . From the neces- sity of the case the value must be arrived at from the opinions of well-informed persons, based upon the purposes for which the property is suitable. . . . What is done is merely to take into consideration the purposes for which the property is suit- able, as a means of ascertaining what reasonable purchasers would in all probability be willing to give for it, which, in a general sense, may be said to be the market value. And in such an inquiry it is manifest that the fact that the property has not previously been used for the purposes in question is irrelevant. The current of authority sustains these views.” What a Purchaser can Afford to Pay is not Market Value. — The value to the person who desires to acquire the property, the amount, in other words, which such person can afford to pay for it, is not its market value. In the Chandler-Dunbar Water Power Co. case above referred to the U.S. Supreme Court says (229 U.S. 80): “In a condemnation proceeding the value of the property to the Government for its particular use is not a criterion. The owner must be compensated for what is taken from him, but that is done when he is paid its fair market value for all avail able uses and purposes.” Reference may also be had to the “ Minnesota Rate Cases ” (230 U.S. 352, 451). And also to “ Five Tracts of Land in Cumberland Tp., Adams Co. Pa. v5. U.S.” (101 Fed. 661, 664). U.S. 5s. Honolulu Plantation Co. (122 Fed. 581, 584; 58 Circuit Ct. Appeals 279). The proposition that the necessity of the party desiring to

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