Appraisal Journal articles from September 2005

Appraisal Journal archives from September 2005

Landowner deemed qualified to assess highest and best use of his property in eminent domain case.(cases in brief)(Brief Article)
September 22, 2005... A landowner is generally held to be qualified to express his opinion about the value of his land in a condemnation action, according to the Court of Appeals of Arkansas. The Boggs own approximately 200 acres of land in Arkansas adjacent to...

Charity's independent-living units entitled to property tax exemption.(cases in brief)(Baptist Village Inc)(Brief Article)
September 22, 2005... The Court of Appeals of Georgia ruled that a charity providing homes for the aged was entitled to a property tax exemption for its independent-living units. Baptist Village, Inc., a federal tax-exempt religious and charitable entity, owned...

Expert testimony on proximity damages and reduction of rental value admissible into evidence in eminent domain case.(cases in brief)(Brief Article)
September 22, 2005... The Court of Appeals of North Carolina ruled, in a condemnation case, that expert opinions on proximity damages were not mere speculation and that expert opinions on the reduction of rental value were admissible into evidence. In January...

City property that abuts private property not a taking without just compensation.(cases in brief)(Brief Article)
September 22, 2005... Does the building of a fire station next to a residential home constitute a taking of property without just compensation? The Court of Appeals of Ohio decided that it did not. Molly Reich filed this suit seeking damages from the City of...

Church entitled to tax exemption on several parcels of land.(cases in brief)(Brief Article)
September 22, 2005... A church was entitled to a tax exemption on each of several parcels of land used as residences by several of its pastors, rather than being restricted to an exemption on a single parcel for the church's "senior pastor," according to the Court...

Land use restriction is not an unconstitutional taking of property without just compensation.(cases in brief)(Brief Article)
September 22, 2005... Restrictions on land use in a county's new comprehensive plan did not constitute an unconstitutional taking of property without just compensation, according to the Supreme Court of South Carolina. In 1994, the South Carolina General...

Grant funds considered in calculating the fair market value of property in an eminent domain proceeding.(cases in brief)
September 22, 2005... In a case of first impression in that state, the Supreme Court of Connecticut ruled that the availability of state economic development grant funds could be considered in calculating the fair market value of property in an eminent domain...

Property used for educational purposes qualifies for tax exemption.(cases in brief)
September 22, 2005... Property need not be used for systematic instruction in order to qualify for a property tax exemption as property used primarily for an education purpose, according to the Court of Appeals of Maryland. Baltimore Science Fiction Society,...

Impact of Hurricane Katrina ripples across economy.(financial views)
September 22, 2005... Introduction We started writing the "Financial Views" column for The Appraisal Journal in fall 1999, making this the sixth anniversary of publication. To help readers develop proactive stances, this column looks at major trends or events...

Takings and judicial deference: takings law after the 2004-05 Supreme Court Term.(law and the appraiser)
September 22, 2005... The 2004-05 United States Supreme Court term was one of the most significant in recent years for property rights decisions. Since the "bundle of rights" of property owners is at the heart of what appraisers value, three recent Supreme Court...

Evaluating environmental stigma with multiple regression analysis.(environment and the appraiser)
September 22, 2005... This edition of "Environment and the Appraiser" continues our series on generally accepted methods and techniques for evaluating the effects of environmental contamination on the value of real property. The series began with an overview of...

Evaluating the risk of housing investment.
September 22, 2005... abstract This article evaluates the patterns of housing risk and returns in Greensboro, NC, and Houston, TX. It shows the price risk facing the average homeowner is high and varies substantially among cities. The return on an individual...

Expropriation claims for increased development costs and loss of profit.
September 22, 2005... abstract Claims for loss of developer's profit and for increased development costs have been inappropriately advanced as an enhancement of market value in a number of Canadian expropriation cases. Provision for developer's profit or...

The effects of a defective construction lawsuit on the value of condominiums: a case study.
September 22, 2005... abstract At least eighteen lawsuits have been filed by attorneys representing condominium home owners' associations (HOAs) in Colorado in the last five years. The lawsuits allege construction defects representing 20%-65% of the combined...

Site size adjustments: a technique to estimate the adjustment magnitude.
September 22, 2005... abstract Site size adjustment has received relatively little attention in the appraisal literature, When it has been discussed, the major point has been the adjustment technique, which consists of finding two comparable properties of...

Quantifying net income attributable to business intangibles for a hotel-operated full-service day spa.
September 22, 2005... abstract For competitive reasons, upper-upscale and luxury hotels are increasingly adding full-service day spas. Because spas present the opportunity for a separate profit center, appraisal analysis is necessary to determine the existence...

Micropolitan areas and housing values.(notes and issues)
September 22, 2005... Abstract Micropolitan areas (Micros) are newly defined census geography, falling between metropolitan and rural in terms of their urban qualities. Micros significantly redefine the American landscape, placing much more of the U.S. land...

Trump Strategies for Real Estate: Billionaire Lessons for the Small Investor.
September 22, 2005... Trump Strategies for Real Estate: Billionaire Lessons for the Small Investor by George H. Ross Published by John Wiley & Sons, Inc., New York, 2005, 256 pages $24.95, hardbound Behind every great man is a phalanx of lawyers and the...