Respondent's calculation of land value which allowed for the subject tract being a pie-shaped tract was appropriate and proper. It follows the formula which has been recognized over the years by the Commission for valuing irregular shaped tracts of land. It is in conformity with the methodology and formula which would have been applied by the Commission in the 1970s. However, the value set on the subject land in the 1970s does not reflect the value that it has in 1999. In other words, simply because a determination is made as to land value for a given year does not mean the land value must and will remain at the value for ever.
Land values increase over time, as has happened, no doubt in the present appeal.
A review of the land valuations on the comparables used by Respondent's appraiser and the two neighboring properties referenced by Complainant establishes a uniform and equal treatment of land within the subdivision. Each of the properties are valued under the same methodology and procedure taking in account any adjustments for irregular shape or other features. The application shall contain specific grounds upon which it is claimed the decision is erroneous. Failure to state specific facts or law upon which the appeal is based will result in summary denial. Section 138.432, RSMo 1994.