A single depreciation rate for improvements may be used to deduce land value from improved sales, including for high-rise commercial buildings; it is an error of valuation principle to hold otherwise as a universal proposition. Maurici v Chief Commissioner of State Revenue does not require rejection of a single comparable sale of scarce vacant land; it requires only that a reasonably representative group of comparable sales be considered and that sales of improved land not be disregarded. A finding that there is 'no evidence' when evidence was in fact adduced constitutes an error of law.
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