Abstract
The purpose of this chapter is to survey various aspects of the methods of regulation which bear on market valuation of public utility property for ad valorem tax purposes. In effect it is a continuation and extension of the previous chapter, on the effect of regulation of value.1 The first section will consider valuation and value in relation to regulation and taxation.2 The second will consider the procedures of regulation and possible regulatory innovations and developments which may bear on market valuation of public utility property for ad valorem tax purposes.
Originally published in Public Utilities Fortnightly, vol. 96, 17 July 1975.
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Notes
James C. Bonbright, Principles of Public Utility Rates (New York: Columbia University Press, 1961) p. 404.
In general, see Paul J. Garfield and Wallace F. Lovejoy, Public Utility Economics (Englewood Cliffs, New Jersey: Prentice-Hall 1964) pp. 78, 79.
For elaboration and references see George C. Philippatos, Essentials of Financial Management. (San Francisco: Holden-Day 1974) chaps 13, 14; for a critique of the use of several valuation models in public utility regulation and, by implication, taxation,
see Blaine E. Davis and F. T. Sparrow, ‘Valuation Models in Regulation’, The Bell Journal of Economics and Management Science, vol. 3 (Autumn, 1972) pp. 544–67.
See generally, Alfred E. Kahn, The Economics of Regulation: Principles and Institution, vol. II (New York: John Wiley & Sons 1971) p. 49ff.
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© 1992 Warren J. Samuels
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Samuels, W.J. (1992). Regulation and Valuation. In: Essays on the Economic Role of Government. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-12377-3_13
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DOI: https://doi.org/10.1007/978-1-349-12377-3_13
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