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Prior to the official valuation, the target price of the stock steadily increased.
The first official valuation of properties in the district took place in 1858.
But this creates difficult administrative problems about how often official valuations of property values are revised.
A local estate agent carried out his own survey of the property and came up with a figure only about a fifth of the official valuation.
The official valuation principles, computations, and definitions used to obtain a measure of value-added have never been challenged; at most a few small adjustments have been made to the official aggregates.
Even at the black-market rates available on the streets of Moscow, which can lower the Soviet currency to one-tenth of its official valuation of $1.64, the airline's profit forecast of 2.3 billion rubles had an impressive ring.
To reflect the near doubling of the official valuation of the town as a whole - to about $19.5 billion - the tax rate is being cut almost in half, meaning no immediate impact on the tax bills for two-thirds of the homeowners.
One example quoted was that of a globe made of precious stones and metals: Auction World were selling this item for £1,280 with no official valuation certificate, whereas a very similar item (slightly larger and classified as being a higher quality) was given an official valuation and a guide price of £930 on bid-up.