Kargman v. Jacobs

In my judgment, employment of the “reproduction cost” method to assess the land, buildings and improvements known as the “Kent Farm Village” produces a valuation substantially in excess of the property’s full and fair cash value. The resulting assessment is therefore illegal and, when challenged, should not be allowed to stand. I therefore respectfully dissent.

In appraising the Kent Farm the assessor’s obligation was to ascertain its full and fair cash value, that is, the amount which a willing buyer would probably pay to a willing seller in an arm’s length transaction in a fair *707market. Allen…