Section 7: Leasing Appraisal and Valuation of State-owned PropertyAnchor: #i1001277
Transportation Code, §202.052 authorizes TxDOT to lease TxDOT assets, including highway ROW, to private entities. In order to do so, the assets must not be needed for highway purposes during the term of the lease, and must be leased at the appraised fair market rental value. The leasing program is coordinated between the Real Estate Management and Development Division and ROW Division, pursuant to rules found in 43TAC §§21.600 - 21.606 and in accordance with FHWA regulations.
There are four forms used in the appraisal process of highway ROW to be leased by TxDOT:
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- Form ROW-A-5, Real Estate Appraisal Report. Anchor: #ICYKGWBT
- Form ROW-A-6 , Real Estate Appraisal Report. Anchor: #GTHLSWLH
- Form ROW-A-14, Rental Value Report. This form is used to estimate the fair rental value of the real property to be leased by TxDOT. Fair rental value may be defined as follows: “Fair rental value is the monetary amount reasonably expected for the right to the agreed use of the real estate.” Anchor: #QQJLXYKN
- Form ROW-L-10, Tabulation of Values – Leasing. This form is used to provide a summary of the land component and a detail of component improvements to be leased by TxDOT.