Section 4: Appraisal for Disposition of Real Property: ROW, Easements, Access Rights, Roadside Parks, and Material Sites
Anchor: #i1001173Procedure
After the ROW Program Office has authorized the appraisal of surplus ROW, easements, roadside park property, material storage sites or borrow pits, the appraisal should be submitted to the ROW Program Office with ROW PD’s recommended value based on the appraisal.
As there is no market for the right to build, maintain, or drain TxDOT highway facilities, a “market value” of state-owned surplus ROW easements, channel easements, or other easements being considered for disposal would be inappropriate. Instead, a “fair and reasonable consideration” for TxDOT's interest in the land is to be established. Generally, this will be the difference in the value of the fee simple title in the land with and without the burden of the state's easement interest. Specific problems in making such evaluations should be brought to the attention of the ROW Program Office Acquisition Section for further instructions and guidance.
All appraisals of these types of property, that are less than an economic unit because of size, configuration, and/or lack of access, will be appraised as part of the adjoining property and its contribution to that property. Any enhancement to property caused by state surplus property shall be considered. Enhancements are considered any benefit that may be produced when both pieces of property are considered as one and which accrue directly and solely to the property. If the state’s additional property will cure a deficiency on the subject site or tract, this shall be considered. state-owned surplus property will be considered as a part of the subject’s new whole property and its effect on value, and highest and best use. This may also be applied to leasing of TxDOT assets.
An accurate basis for determining the value of surplus access rights is the difference between the values of comparable properties with access and properties not having access. Again, specific problems in making such valuations should be brought to the attention of the ROW Program Office Acquisition Section for further instructions and guidance.