Mark K
Elite Member
- Joined
- Jan 27, 2004
- Professional Status
- Certified Residential Appraiser
- State
- Indiana
INDOT
"That any decrease or increase in the fair market value of real property prior to the date of valuation caused by the public improvement for which said property is acquired, or by the likelihood that the property would be acquired for such improvement, other than that due to physical deterioration within the reasonable control of the owner, was disregarded in determining the compensation for the property."
Any increase in the 'after' value due to the project are considered 'benefits' which can only be considered and used to offset damages to the residue.
"That any decrease or increase in the fair market value of real property prior to the date of valuation caused by the public improvement for which said property is acquired, or by the likelihood that the property would be acquired for such improvement, other than that due to physical deterioration within the reasonable control of the owner, was disregarded in determining the compensation for the property."
Any increase in the 'after' value due to the project are considered 'benefits' which can only be considered and used to offset damages to the residue.