Appraisals
Parcels are appraised "as if clean." Many appraisers are not
qualified to detect the presence of contamination, therefore, some
sites may be appraised "as if clean" even though they are impacted by
contamination. The value of contaminated real estate may not be
accurately estimated by simply deducting the estimated remediation
or compliance cost from the unaffected value. Other factors may
influence value, including a positive or negative perceived impact
on marketability (stigma) and the possibility of change in the highest
and best uses. After the original "as if clean" appraisal is obtained,
an appraiser with contamination expertise should be considered for
some parcels. Districts should contact ROW for information on obtaining
appraisal experts. Additionally, expert technical services for estimating
corrective action costs may be obtained through ENV statewide environmental
contracts.