Effects of Proposed Highway Improvements on Property Values The general objectives of this research were to (1) assemble and overview statutory and case law on the subject of enchancement and diminution, (2) study the valuation and legal problems involved, (3) develop alternative legal and valuation methods, and (4) present case studies to demonstrate the effect of such change in value. Basic principles of valuation practice are described, factors that cause enchancement or diminution in value are identified, and the impact of condemnation on market value of real property is discussed. Statutory and case law provisions bearing on the subject are also identified. Interviews were conducted, with a selected sampling of highway department personnel, and certain parcels were personally inspected by the research team to identify their characteristics as they may apply to the study. |
