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STATE EX REL. MO. HIGHWAY, ETC. v. KROEGER

No. 43218.

633 S.W.2d 297 (1982)

STATE of Missouri, ex rel. MISSOURI HIGHWAY AND TRANSPORTATION COMMISSION, Respondent, v. George B. KROEGER, et al. Exceptions of Le-Ar-Coe, Inc., etc., et al., Appellants.

Missouri Court of Appeals, Eastern District, Division Three.

April 27, 1982.

Attorney(s) appearing for the Case

Jenny, Cole & Eckelkamp, James A. Cole, Union, for appellants.

Bruce A. Ring, Chief Counsel, Richard E. Baker, Asst. Counsel, Kirkwood, for respondent.

CLEMENS, Senior Judge.

The issue before us is the proper basis for evaluating land taken for public purposes: (1) Cost of replacement minus depreciation, (2) capitalization of income or (3) comparable sales. See Northeast Mo. Elec. Power Co-op v. Fulkerson, 542 S.W.2d 26 [1, 2] (Mo.App.1976).

Corporate defendant Le-Ar-Coe owned 106 acres in Franklin County. It farmed 101 acres and used five acres for a gas station...

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