Appraisal Journal articles from September 2006

Appraisal Journal archives from September 2006

Before and after rule not exclusive method of measurement in partial condemnation case.(cases in brief)(State v. Paul Bunyan Rifle & Sportsman's Club)(Brief article)
September 22, 2006... The before and after rule is not the exclusive method for measuring just compensation in a partial condemnation case, according to the Court of Appeals of Washington. Paul Bunyan Rifle & Sportsman's Club (Bunyan) owns about 80 acres of...

Methods of proof offered by expert witnesses lack reliability in condemnation case.(cases in brief)(North Carolina Department of Transportation v. Haywood County)
September 22, 2006... The Supreme Court of North Carolina ruled, in a state condemnation proceeding, that expert witnesses used methods of proof that lacked reliability. The North Carolina Department of Transportation (Department) made plans to widen U.S....

Supplemental assessments limited to improvements on land, not changes in value of land.(cases in brief)(District of Columbia v. Edison Place)(Brief article)
September 22, 2006... A supplemental assessment of the increased value of land upon substantial completion of new construction could not include the increased land value as the result of the improvements because such changes to land valuation can only occur via a...

Rebuilding neighborhood's infrastructure entitles taxpayer to property tax exemption.(cases in brief)(College Corner, L.P. v. DLGF)(Brief article)
September 22, 2006... The Tax Court of Indiana ruled that rebuilding a neighborhood's infrastructure constituted a charitable purpose that entitled a taxpayer to a property tax exemption. College Corner, L.P. (CCLP), a limited partnership, was formed in 2000....

Value of incentives not applicable in eminent domain case.(cases in brief)(Southtown Properties v. City of Fort Wayne)
September 22, 2006... An Indiana appellate court ruled, in a case of first impression in that state, that incentives that a city offered to potential developers before property was taken were irrelevant to a determination of fair market value in a condemnation case....

Possibility of assemblage not applied to taxation.(cases in brief)(Route 188, LLC v. Town of Middlebury)
September 22, 2006... The doctrine of assemblage applies when valuing land for tax purposes if the highest and best use of separate parcels involves their integrated use with lands of another. Pursuant to this doctrine, such prospective use may be properly...

Land used for duck hunting not classified as agricultural.(cases in brief)(Senachwine Club v. Board of Review)(Brief article)
September 22, 2006... An Illinois appellate court ruled that, because a property owner's parcels of land were used only for duck hunting, they could not be classified as agricultural. The Senachwine Club (Club), the owner of a parcel of land in Putnam County,...

Right of reasonable access and loss of view not compensable in eminent domain case.(cases in brief)(Utah Department of Transportation v. Ivers)
September 22, 2006... The Court of Appeals of Utah ruled that property owners in a condemnation case were not entitled to damages for the loss of access, or loss of view from or visibility of the remaining property. This case involved a taking of private...

Economy set for soft landing.(financial views)
September 22, 2006... Commentary While the housing boom has finally played out and consumer exuberance has been reined in a bit as interest rates have crept up, the overall economic outlook is relatively positive. At the same time, concern over inflation and...

Institutional controls and contaminated property valuation.(environment and the appraiser)
September 22, 2006... Environmental agencies are adopting more site- and risk-specific approaches to the remediation of contaminated properties. One increasingly used technique to achieve site closure involves the implementation of institutional controls. (1)...

Billboards and the legal and regulatory environment.
September 22, 2006... abstract This article is intended to provide insight into the diverse and complex legal and regulatory environment affecting billboard valuations. Most case law and statutory interpretations restrict the choice of valuation approach in...

Property risk assessment: a simulation approach.
September 22, 2006... abstract Simulation analysis leads to greater insights into the risk characteristics of Investment properties by explicitly recognizing that many input assumptions are uncertain. It allows the analyst to realistically model this...

Protocols for valuations.
September 22, 2006... abstract This article develops an analogy between real estate appraisal methods and scientific laboratory analytical methods. The latter specify a detailed listing of steps to be taken by the analyst. The former often allow more discretion...

The impact of contract for deed financing on Minnesota forest land markets.
September 22, 2006... abstract The impact of contract for deed financing on Minnesota forest land prices was estimated using nearly 8,000 sale records for 1989-2003. Even after accounting for favorable financing terms, contract for deed forest land sales...

Federal government appraisal contract work: where to find it and how to get it.(notes and issues)
September 22, 2006... Would you like to appraise a lighthouse or maybe an old military base? How about appraising a former post office or courthouse? The federal government has all of these properties and much more, including basic office and warehouse facilities....

Post-Kelo legislation on eminent domain impacts valuations.(notes and issues)(Law overview)
September 22, 2006... State legislatures spent a good portion of their 2006 legislative sessions ensuring that property owners whose property is taken by eminent domain will receive just compensation. In response to the U.S. Supreme Court's 2005 Kelo v. New London...