Maatalouteen liittyvien etuuksien arvioimisesta toista korvauslakia sovellettaessa

Authors

• Antti Mäki Yliopiston maanviljelystaloudellinen laitos, Helsinki

DOI: https://doi.org/10.23986/afsci.71284

Abstract

To provide compensation for the economic losses incurred in the 1939—1944 wars, several laws were passed in Finland, including the Compensation Acts of 1940 and 1942, and the so-called Second Compensation Act of 1945. The article deals with the valuation of the benefits attached to agricultural real estate, primarily as regards the application of the Second Compensation Act. The benefits include a number of different rights of enjoyment and income-earning rights, and certain parts of property that cannot be included under any other heading in an agricultural estate. The benefits can be divided into two groups according to whether they should be valued separately and the obtained value added to the value of the agricultural estate, or whether the value of the benefits should be considered as included in the value of the agricultural land, in which case their absence must be allowed for as a reduction in the value of the agricultural estate. The first group should include e.g. sources of soil improvements essential to the farm’s own use, and the rights of encumbrance belonging to the farm, i.e. right of way, water rights or driving rights for cattle, as such rights must be considered indispensable to the continued running of the farm. The absence of the benefits reduces the value of the estate, and the reduction in value must be defined by calculating the cost of remedying the deficiency. Income-earning benefits must be valued on the basis of the average annual pure yield obtained. In the valuation of an area containing raw materials, of which the quantity is limited, the quantity of saleable material, unit price and probable time of sale must be considered. Whenever sales can be assumed to continue for 60 years, the present-day value of the benefit can be obtained, with no serious inaccuracy, by capitalising the annual pure yield in terms of its continuing for an unlimited time. In other cases the present-day value of the benefit must be calculated by allowing for its limited period of duration and by discounting the yield values to be obtained in this period in terms of the present moment. In valuation of the sales of gravel, sand, clay etc. sources, the quantity of saleable material only should be considered, and in the calculations the precentage of covering soil, stones, etc., must be deducted. In addition, the natural slope of the gravel must be taken into consideration, for it causes a considerable quantity of material to be left against the walls of a deep gravel or sand pit, material which cannot be included in the saleable material. In valueing areas suitable for housing, business or industrial plots, the real sale and purchase prices of similar areas must be taken as the basis, plus the extent of the area and the probable annual demand for plots. The value of a plot can be defined as the present-day value of a yield continuing for a limited time. If the area is very large its value can be computed by capitalising the average annual pure yield obtained from the sale of plots. The value of plot is greatly dependent on the potential use of the plots, and extensive areas in the neighbourhood of centres of population may have a speculative value higher than the possible estimate of the average value of all similar areas. In applying the Second Compensation Act it was also necessary to value plot areas in the neighbourhood of and within such centres of population as had been destroyed and which were designed to be re-built in an entirely new location which latter was also ceded as a result of the war. In such a case the old location in its entirety was assumed to be in the state it would have been in 1944 undestroyed, and in the new location only such small areas were valued as plot land as had been bought at plot price for the owner’s personal use. As regards the rest of the area, no special value was awarded the land as prospective plots.