WPI 151.07 Costs—Reproduction or Replacement
6A WAPRAC WPI 151.07Washington Practice Series TMWashington Pattern Jury Instructions--Civil
6A Wash. Prac., Wash. Pattern Jury Instr. Civ. WPI 151.07 (7th ed.)
Washington Practice Series TM
Washington Pattern Jury Instructions--Civil
April 2022 Update
Part X-A. Eminent Domain
Chapter 151. Eminent Domain—Special Instructions
WPI 151.07 Costs—Reproduction or Replacement
You are to consider evidence of reproduction or replacement costs of improvements on this property only to the extent that such costs affect the fair market value of the property as a whole.
NOTE ON USE
Use this instruction when evidence of reproduction or replacement costs is used by a witness as a factor in forming an opinion of market value.
COMMENT
One method of valuing real property is the “cost approach,” which utilizes the reproduction or replacement costs of improvements taken or damaged.
The cost is only one factor to be considered in determining fair market value. Shields v. Garrison, 91 Wn.App. 381, 386, 957 P.2d 805 (1998) (private condemnation of easement by necessity); State v. Obie Outdoor Advertising, Inc., 9 Wn.App. 943, 516 P.2d 233 (1973); City of Renton v. Scott Pac. Terminal, Inc., 9 Wn.App. 364, 512 P.2d 1137 (1973); State v. Wilson, 6 Wn.App. 443, 493 P.2d 1252 (1972). When the cost approach is used, a proper deduction must be made for depreciation. State v. Wilson, 6 Wn.App. 443, 447, 493 P.2d 1252 (1972); Shields v. Garrison, 91 Wn.App. at 386.
[Current as of October 2016.]
Westlaw. © 2022 Thomson Reuters. No Claim to Orig. U.S. Govt. Works.
| End of Document |