- 23 - Aggregate water (1,008) front and size adjustments Total adjusted per- 1,873 acre value 1 This adjustment consists of the difference between the per-acre value of the timber on DP ($1,273) and the per-acre value of the timber on the White House Plantation ($950), multiplied by the White Houses Plantation’s 447.75 acres. Mr. Hartnett rounded to get this amount. 2 Based on a time adjustment of 8 percent. 3 Based on a 35-percent size adjustment. After adjustments, Mr. Hartnett determined in his report a per- acre value of $1,873 for the White House Plantation. We shall review each adjustment. a. Improvement Adjustment Mr. Hartnett decreased the White House Plantation sale price by the amount its improvements exceeded the improvements on DP. The White House Plantation had improvements valued at $150,000. Thus, Mr. Hartnett reduced the sale price by $50,000. We find this adjustment acceptable. b. Timber Adjustment The timber adjustment Mr. Hartnett used increased the per- acre value of the White House Plantation by the difference between the per-acre value of the timber on DP and the per-acre value of the timber on the White House Plantation. Respondent argues that this method does not account for the total value of the timber on DP. Respondent contends that the timber adjustmentPage: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Next
Last modified: May 25, 2011