Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 174667931X

URN:: urn:nbn:de:zbw-retromon-119897

Document type:: Monograph

Author:: Grunsky, Carl Ewald http://d-nb.info/gnd/10180959X

Title:: Valuation, depreciation and the rate base

Edition:: 2. ed., revised and extended

Place of publication:: New York

Publisher:: Wiley

Year of publication:: 1927

Scope:: X, 500 Seiten

Digitisation:: 2021

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XI. The value of a water-right and of reservoir and watershed lands

Collection:: Economics Books

220 VALUATION, DEPRECIATION AND THE RATE-BASE Valuation of Reservoir Sites in Relation to Water-right Value. — Passing now to the consideration of the value of reser- voir sites it may be broadly stated that, in some measure, any value thus or otherwise ascertained as appertaining to water- rights may serve as an aid in determining the value of water- shed and reservoir lands or of other lands whose use is neces- sary to make the development of the water possible. The value of such lands should not, however, be measured by the necessity of the community which needs the water. Their value is not what the community can afford to pay for them; but they have at least the value which would be deter- mined by the market for similar lands devoted to other uses. They also have an additional value due to special adaptability for use in developing a water supply. It is owing to the desirability of bringing this excess value of reservoir lands into some relation to the value of the water whose development their ownership makes possible that it may sometimes be found desirable to make the value of the water- right a measure of the excess of value (sometimes perhaps only of the upper limit of the excess) of an assembled reservoir prop- erty over the value of the land for other purposes. While this is not an established practice, it is one which appears to have some merit. It is to be understood that the excess of the value of reservoir lands over similar lands not available for reservoir use as here considered is apart from and in addition to the value of the water-right. Where the water development requires only a few acres of ground, as in the case of artesian supplies, particularly if the land remains available for other uses, or when the topographic situation is unusually favorable, a small fraction of the value of the water-right might prove to be an adequate allowance for special adaptability. Value Multiple Applied to Reservoir Lands. — In such special cases some use might be made of a value multiple such as has become customary when rights of way are to be secured for railroads and canals which are acquired usually at some increase

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