40-30-20-10 rule, aka 25% rule, aka ?

[dasantacroce]

This "rule" is probably from McMichaels Appraising Manual c. 1951 for lot valuations generally applied by tax assessors in that era.

 

[hglenbetts]

The OP doesn't say how big (deep) the lot is, whether or not it is improved, what type of improvements, how deep the setback line is, or how deep the taking is.

If I'm on a street with a 30' setback, from the ROW and the city takes another 15' of right of way, my house will be that much closer to road noise, traffic influence, and locational depreciation. Is that value loss the same as fifteen feet off the back end? Probably not. It's problably greater.

OTOH, if the land is unimproved, any setbacks would likely be unaffected. It would be nice to have a few more facts with this problem, like zoning, existing land uses (and existing setbacks), lot depths, and etc.

SEE, ANOTHER LEARNING MOMENT...

 

[BobfromSalem]

Right on, Greg

Read Land Valuation by James Boykin (AI text).

This is also discussed in JD Eaton's Real Estate Valuation in Litigation (also an AI text).

Who's helping you with this one?

The Eaton textbook is EXCELLENT-- it helps you understand what is the larger parcel, etc.

 

[toomanyhats]

Here is some additional information that some of you requested. Additionally, the circumstances have changed in that the acquiring agency has changed the fee acquisition to a highway easement.

The property is improved with mini storage units. The set back from the right of way is 40' with the closest storage unit being approx. 50 feet from the r/w line. After the fee acquisition, the unit would have been about 16' from the r/w, but since the agency is now acquiring a highway easement, the unit will remain at approx. 50 feet from the r/w line.

The parcel is about 2.5 acres. It measures 600 feet deep (N-S) and is 220 feet on the north end and 80 feet on the south end. The west side is an arc that runs from the nw/c on the 220 ft end to the sw/c on the 80 foot end. The 80 foot end is where the highway easement is being acquired in order to flatten out the arc. It is a triangular piece off the sw/c of the parcel.

Thanks for all of the input!

 

[Calvin the Airedale]

Here is some additional information that some of you requested. Additionally, the circumstances have changed in that the acquiring agency has changed the fee acquisition to a highway easement.

The property is improved with mini storage units. The set back from the right of way is 40' with the closest storage unit being approx. 50 feet from the r/w line. After the fee acquisition, the unit would have been about 16' from the r/w, but since the agency is now acquiring a highway easement, the unit will remain at approx. 50 feet from the r/w line.

The parcel is about 2.5 acres. It measures 600 feet deep (N-S) and is 220 feet on the north end and 80 feet on the south end. The west side is an arc that runs from the nw/c on the 220 ft end to the sw/c on the 80 foot end. The 80 foot end is where the highway easement is being acquired in order to flatten out the arc. It is a triangular piece off the sw/c of the parcel.

Thanks for all of the input!

Thanks for getting back to us. This is not a simple strip taking.

I don't know what presently occupied the front yard of this property but in this area such properties are often improved with space for parking. I suspect your subject is so improved also but maybe not. In any case, a taking for such frontage, even for an easement, would limit the parking and utility of the improvements, would they not? Absolutely more diminution in value than a taking of the same amount of land at the rear of the site. How intensley developed is the site? Does it have room per zoning and makret demand for additional storage units and would it have less after this taking?

 

[toomanyhats]

The acquisition only affects a portion of the driveway and some turf grasses. Parking is not affected.

The driveway is not being removed and its functionality is remaining in tact. We also provided compensation for that portion of asphalt within the acquisition area.

The property has the same room per zoning for additional storage units after the acquisition as it does before.

 

[Pittsburgh Pete]

The acquisition only affects a portion of the driveway and some turf grasses. Parking is not affected.

The driveway is not being removed and its functionality is remaining in tact. We also provided compensation for that portion of asphalt within the acquisition area.

The property has the same room per zoning for additional storage units after the acquisition as it does before.

In your earlier post you mentioned a "highway easement"; what exactly is that in your highway parlance? Is that a slope easement, TCE (temporary construction easement; drainage easement, .... We don't have such a beast in PA.

Just curious!

 

[toomanyhats]

A Highway Easement allows the agency to do anything and everything needed to construct and maintain a highway, including grading, paving, ditches, curb and gutter, utilities, etc. The landowner retains ownership of the underlying fee.

They are typically used when there is a cloud on the title that would be time consuming and expensive to cure. Sometimes owners request that the agency acquire a highway easement because it preserves the size of the parcel and the parcel's conforming to zoning size requirements, whereas acquisition in fee would make them legal nonconforming. The agency will also acquire a highway easement to preserve the owner's legal conforming status as to setback.

 

[Pittsburgh Pete]

A Highway Easement allows the agency to do anything and everything needed to construct and maintain a highway, including grading, paving, ditches, curb and gutter, utilities, etc. The landowner retains ownership of the underlying fee.

They are typically used when there is a cloud on the title that would be time consuming and expensive to cure. Sometimes owners request that the agency acquire a highway easement because it preserves the size of the parcel and the parcel's conforming to zoning size requirements, whereas acquisition in fee would make them legal nonconforming. The agency will also acquire a highway easement to preserve the owner's legal conforming status as to setback.

Here in the Great Commonwealth of PA, we call that a slope easement: "an area located outside the right-of-way for support and/or protection of the area within the right-of-way lines. Placement and maintenance of drainage facilities are included as allowed for the protection of the highway. Acquisition of property as slope easement shall not prevent the property owner from making any use of the area covered by the slope easement which is not detrimental to the necessary support of the area within the right-of-way lines nor to the safety of the traveling public. However, no structure of any kind may be ereced in the designated area, nor may any pipe or ditch be connected to the department's pipe or ditch without advianced written approval by the Department of Transportion."

Always interested in other jurisdictions' nomenclature and processes. Thanks for the info.

 

[Ken B]

Now if I could just pass the durn Income Cap module of the Comp Exam.

Done!


Thanks to a complete review of the 510 course exercises and the help of AI's Cap Theory Techniques and Study Guide, 3rd Ed.

IMO Whitmer's material did the job for everything except the Income Cap module. Cramming with the 510 exercises and the Study Guide did the trick for me.