Teton Valley Ranch v. State Board of Equalization

Value in empirical terms is an intangible product of time and place: willing seller— available buyer. Without buyer, there is no marketable value. 1 Bonbright, Valuation of Property (1st ed.) at 59.1 Any statistical comparison of Wyoming real estate time-distinguished values between 1982 and the present would reveal a market decrease which may total 50 percent overall. The specificity of economics cannot be mathematically converted into taxation assessment standards, Bonbright, supra, Ch. XVIII, Valuation for Tax Purposes: The General Property Tax, and is not within the uniformity, equality…