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Section 11: Economic Adjustments

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Policy

For minor acquisitions, the appraised value may be rounded up to a maximum of $1,000 at the discretion of R/W-PD. This procedure will eliminate many of the challenges encountered in attempting to negotiate such parcels and the resultant need to condemn and incur the relatively high costs of condemnation proceedings. In those instances, however, when one parcel is broken into more than one part, such as 2 and 2E, the minimum figure will apply to the sum of the total. A value, equal to or less than the $1,000 maximum, may be rounded to an appropriate amount. This should be considered, especially on inexpensive properties if such rounding might appear to create inequities when there are variations in the sizes of the parcels required, i.e., a 10 square-foot parcel versus a 500 square-foot parcel.

Justification for the economic adjustment should be made in the Appraisal Review Comments in ROWIS.

If the parcel goes to eminent domain proceedings, the economic adjustment value shall revert to the original appraised value.

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