Compensation
The base measure, the assumptions inside it, and why two appraisers reach different numbers.
Fair market value is the price a willing buyer would pay a willing seller, neither under compulsion and both reasonably informed. It is the starting point for every condemnation valuation.
It is also a conclusion built on assumptions. Change the view of what the land could best be used for, or which sales are genuinely comparable, and the number moves a long way without any arithmetic error.
The short answer
Fair market value is the base, not the whole. In Florida it is the first component of full compensation, not a substitute for it.
The standard fair market value sits inside.
Read moreWhere the measure gets more complicated.
Read moreThe component fair market value alone misses.
Read moreThe land you keep, valued afterwards.
Read moreReading the package you were sent.
Read moreWhere access and parking drive value.
Read moreFee, permanent easement or temporary construction easement.
Legally permissible, physically possible and financially feasible.
Similar in size, zoning, frontage, access and date.
For differences between them and your property.
The first component.
Where severance damages are established.
Where section 73.071(3)(b) applies.
If it assumes a lesser use than the land plainly supports, everything downstream is understated.
Sales from a different market period need adjustment, and sometimes cannot carry the weight placed on them.
An appraisal that does not mention the driveway probably did not value its relocation.
On a partial taking, an appraisal with no before and after analysis has not addressed severance at all.
No. Assessed value is produced for taxation on a mass appraisal basis and is not evidence of what a property would fetch in a sale.
Yes, and on contested partial takings owners commonly do. Section 73.091 is relevant to the cost.
Then it has not addressed severance damages or the remainder, which on a partial taking is usually where the larger figure sits.
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