Purpose – The purpose of this paper is to review what is known about obsolescence and its causes, and provide a critique of how it is reflected in valuations. Design/methodology/approach – The method has been to review the literature on obsolescence to examine the main causes and whether...

Purpose – Many taxing authorities use unimproved land (site) values as a tax base. In highly developed urban areas this may require the use of indirect valuation methods, such as an extraction technique to arrive at the land value. The purpose of this paper is to propose that the land...