- 22 -
The main issue with this property is that it includes
significantly less acreage than DP. While valuation is
inherently imprecise, we should limit this inexactitude by
relying on sales that require the fewest and smallest
adjustments. Accordingly, this is the best available sale of
comparable property.
2. Adjustments to the Sale Price of the White House
Plantation
Mr. Hartnett made five adjustments to the sale price of the
White House Plantation which took into consideration the
distinctive characteristics of DP and the comparable property.
The adjustments he made are summarized in the following table:
White House
Adjustments Plantation
Sale price $1,100,000
Improvement (50,000)
adjustment
Timber adjustment 1144,625
Adjusted price 1,194,625
Per-acre value 2,668
Time adjustment 2213
Per-acre value with 2,881
time adjustment
Water front -0-
adjustment
Size adjustment 3(1,008)
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