Section 4: Appraisal for Disposition of Real Property: ROW, Easements, Access Rights, Roadside Parks, and Material Sites
Procedure
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.