"The accepted way to determine the market value of assets in general, and real estate assets in particular, is the comparison method (or by its other name – the market value method), i.e., the value of real estate is estimated through comparison transactions through which the price paid for similar assets in a voluntary transaction in the free market is examined [...] Naturally, this method takes into account all the characteristics of the property, including characteristics that do not have a statutory anchor, i.e., they do not necessarily reflect legal rights granted to the landowner by virtue of a binding plan, such as its geographical location, the level of demand for real estate in the area in which the property is located, the density of construction in its vicinity, the road network and public transportation in its vicinity. the view from it, etc." (see: Application for Administrative Leave to Appeal 10212/16 Deli Dalia v. Herzliya Local Planning and Building Committee, paragraph 10 of the judgment of Justice Vogelman [Nevo] (April 1, 2020); Emphasis added - A.S.).
The Judge A. Grosskopf, he also clarified in the same matter that "The actual value of assets is not the product of legal rights alone, but of a set of characteristics, some of which are anchored in the law and some of which are not(See: Matter Delia Bucket, in paragraph 13 of the judge's judgment Grosskopf; Highlight Added - A.S.).
- Justice Grosskopf further added that "when we instruct the appraiser to neutralize components from the market value, we must justify it with a normative argument" (ibid.; Emphasis added - A.S.).
In our case, insofar as the very approval of TAMA 38 led to fluctuations in the real estate market that increased the value of a particular real estate asset, and taking into account the fact that no tax event was formed in the approval of the TAMA 38, there is no justification for neutralizing this contribution in the assessment of the "previous situation".
- The question of whether the very approval of TAMA 38 actually contributed to the value of the land is a clear appraisal question, which must be determined by the certified appraisers.
As I had the opportunity to clarify in the context of the expropriations: