Valuer-General and Another v Addington Raceway Limited - [1969] NZLR 327

Valuers and valuations — Particular kinds of valuation — Government valuation — Unimproved value — Land zoned for recreation purposes on operative district scheme — Possibility of rezoning as residential — Whether to be taken into account in valuation — Lease — Whether lease to be taken into account — Principles to be applied in arriving at valuation — Valuation of Land Act 1951, ss. 2, 45.