La. Admin. Code tit. 70 § XVII-545

Current through Register Vol. 50, No. 11, November 20, 2024

Section XVII-545 - Form A (Formerly $547)

A. The form is designed as a complete, detailed appraisal of an ownership, including all land and improvements, using all applicable approaches. In effect, this is two separate appraisals, "before" the acquisition and "after" the acquisition, pertaining to partial acquisitions only. Each segment, before and after, is to be completed in detail and separate from the other. All approaches to value are to be utilized in detail when applicable. Any feasibility study shall be included within the report.

B. This form will include the following pages or reasonable facsimiles of them within the report. All pages from the title page to the required exhibits shall be included. At the discretion of the appraiser, additional pages may be included. The following pages required are:

1. Before Acquisition Analysis:

a. Title Page;

b. Table of Contents;

c. Letter of Transmittal;

d. Summary of Salient Facts and Conclusions;

e. Basis for Summary of Fair Market Value;

f. Title Data;

g. Discussion of the Appraisal Problem;

h. Photos of the Subject Property;

i. Neighborhood Data;

j. Site Data;

k. Statement of Highest and Best Use;

l. Comparable Land Sales and Listings Analysis;

m. Correlation and Indication of Land Value;

n. Improvements;

o. Floor Plan;

p. Cost Data Approach to Value;

q. Source and Justification of the Cost Approach;

r. Market Data Approach to Value;

s. Income Data Approach to Value;

t. Correlation of the Whole Property Value and Allocation of Value;

u. Required Right of Way;

2. After Acquisition Analysis:

a. Site Data;

b. Statement of Highest and Best Use;

c. Comparable Land Sales and Listings Analysis;

d. Correlation and Indication of Land Value;

e. Improvements;

f. Floor Plan;

g. Cost Data Approach;

h. Source and Justification of the Cost Approach;

i. Market Data Approach to Value;

j. Income Data Approach;

k. Correlation of the After Value and Allocation of Value;

l. Analysis of Other Considerations (Additional Compensation);

m. Final Estimate of Value;

n. Certificate of the Appraiser;

o. Addenda:

i. Assumptions and Limiting Conditions;

ii. Vicinity, Strip and Remainder Maps;

iii. Property Inspection Report;

iv. Owner Notification Letter;

v. FIRM Maps;

vi. Comparable Sales and Maps

vii. Zoning Maps (if applicable);

viii. Estimate of Compensation;

ix. Others at the discretion of the Appraiser and/or Review Appraiser.

La. Admin. Code tit. 70, § XVII-545

Promulgated by the Department of Transportation and Development, Office of Real Estate, LR 25:889 (May 1999), amended LR 29:2858 (December 2003), LR 33:1377 (July 2007).

AUTHORITY NOTE: Promulgated in accordance with R.S. 48:443.