Number of Appraisals
Within the process of assigning and contracting with fee appraisers to appraise parcels on acquisition projects, ROW PD shall obtain the initial appraisal report by assigning a work authorization to a Department Certified Appraiser. If it is determined that controversial or complex appraisal issues exist, or if the parcel value is in excess
of
$1 million dollars, a second appraiser work authorization can be
assigned and a second appraisal completed.Likewise, a third or additional appraisal report can be obtained when two appraisals obtained on a parcel reflect honest differences in opinion that prevent TxDOT ROW from conscientiously recommending a value for approval. ROW PD may want to consult with the ROW Program Office in deciding to obtain a third or additional appraisal.
NOTE: An update by the original appraiser on a parcel in eminent domain will be paid based on the appraiser's PREAS contract fee schedule. The time required to complete an update appraisal report may be less than the time required to complete the initial report; therefore, the appraisal fee for an update report is frequently lower than the fee charged for the initial appraisal report.
All approved values for parcels must be established by one of the following five methods:
- Form , used for improved and comprehensive parcels.
- Form , used for improved and comprehensive parcels withCommercial Signs (formerly known as Outdoor Advertising Signs)affected by the acquisition.
- Form , used primarily to value vacant land when minor improvements are valued on a depreciated cost basis, and with minor cost to cure items, such as re-fencing the remainder, and for simple land acquisitions and site improvements.
- Form , used when the compensation centers on land value, and the expected acquisition is $25,000.00 or less, or when there are minor cost to cure items.
- Form , used when a total compensation does not exceed $10,000.00.
- NOTE: Only qualified TxDOT ROW personnel may use formsROW-A-7 Real Estate Value FindingorROW-A-8 Memorandum of Value Determination, which are classified as waiver valuations. A waiver valuation is not an appraisal and is not subject to an appraisal review; moreover, the waiver valuation is not subject to the Uniform Standards of Professional Appraisal Practice.In addition, because a waiver is not an appraisal, the landowner must waive their rights to an appraisal in order for these forms to be used.