Appeal, No. 275, Jan. T., 1954, from decree of Court of Common Pleas No. 2 of Philadelphia County, Dec. T., 1953, No. 6466, in case of Flamingo Apartments, Inc. v. Board of Revision of Taxes and The City of Philadelphia. Decree affirmed.
Silliam T. Coleman, Jr., with him Marcus Manoff, and Dilworth, Paxson, Kalish & Green, for appellant.
Herbert M. Linsenberg, Assistant City Solicitor, with him Augustus R. Sigismondi, Assistant City Solicitor, Jerome J. Shestack, First Deputy City Solicitor, and Abraham L. Freedman, City Solicitor, for appellees.
Before Stern, C.j., Stearne, Jones, Musmanno and Arnold, JJ.
OPINION BY MR. JUSTICE ARNOLD
Plaintiff appeals from the decree of the court below, which sustained the action of the Board of Revision of Taxes in fixing the assessment of its apartment building for tax purposes.
Both the plaintiff and the city presented the testimony of experts to fix the market value of the premises, which is the basis for the amount at which properties are to be assessed. The Board, and the court below, accepted the declaration of value set by the city's expert.
Plaintiff's contentions on this appeal seeking a new trial are that the court below erred in the exclusion of certain evidence offered by it to establish value, to wit: (1) evidence of actual net income and the maximum possible earning capacity of the building; (2) evidence of the effect on its market value of the requisite that it be rented on a racially integrated basis; and (3) evidence of non-uniformity of assessments.
The Act of 1939, P.L. 1199, 53 PS § 4805.13, requires that all property in Philadelphia County "shall be valued and assessed by the assessors and by the board at the actual value thereof." We have held that actual value is market value: Vollmer v. Philadelphia, 350 Pa. 223, 228, 38 A.2d 266. "We have defined market value as the price which a purchaser willing but not obliged to buy, would pay an owner, willing but not obliged to sell, taking into consideration all uses to which the property is adapted and might in reason be applied:" Hudson Coal Company's Appeal, 327 Pa. 247, 251, 193 A. 8. In Park Drive Manor, Inc. Tax Assessment Case, 380 Pa. 134, 110 A.2d 392, this Court stated at page 136: "In determining market value many factors may be relevant, including capitalized rental income, comparable
sales, location of the property and condition of the buildings ... But all the elements considered must be directed to determining the value of the property in the market, a determination which is not controlled by any single factor and which is ultimately made on the basis of ...