Regulation and Valuation
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.
KeywordsIncome Expense Posit Univer Monopoly
Unable to display preview. Download preview PDF.
- 11.James C. Bonbright, Principles of Public Utility Rates (New York: Columbia University Press, 1961) p. 404.Google Scholar
- 12.In general, see Paul J. Garfield and Wallace F. Lovejoy, Public Utility Economics (Englewood Cliffs, New Jersey: Prentice-Hall 1964) pp. 78, 79.Google Scholar
- 13.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,Google Scholar
- 15.See generally, Alfred E. Kahn, The Economics of Regulation: Principles and Institution, vol. II (New York: John Wiley & Sons 1971) p. 49ff.Google Scholar