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Thread: Property value effect of government acquisition

  1. #1
    Cyburbian fringe's avatar
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    Property value effect of government acquisition

    A local parcel was offered to local city government. It is adjacent to a parcel where PW maintenance shop and sewage treatment facility are located.

    Analysis process asks whether adjacent values will be adversely affected.

    Isn't public property essentially neutral in terms of value?

  2. #2
    OH....IO Hink's avatar
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    You are asking whether the value of the land offered to the City will be negatively affected by the location next to the sanitary plant or if the sale of the lot will negatively affect the sanitary plant value?

    When purchasing right-of-way and calculating real value, government land is looked at for the purpose of what it could be. It depends on the zoning and the location. Not sure I helped you any...
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  3. #3
    Cyburbian stroskey's avatar
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    Quote Originally posted by fringe View post
    A local parcel was offered to local city government. It is adjacent to a parcel where PW maintenance shop and sewage treatment facility are located.

    Analysis process asks whether adjacent values will be adversely affected.

    Isn't public property essentially neutral in terms of value?
    No, public property is not neutral. A new jail will decrease commercial valuations and a park will increase residential valuations, even though they are both publicly-owned. It might behoove you to purchase this parcel so you can increase your holdings near your existing uses. If either needs to expand (or move something else in there) it will be easier since you own more land.
    I burned down the church to atone for my transgressions.

  4. #4
    Cyburbian fringe's avatar
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    Here's the question verbatim:

    "Will the proposed change adversely affect property values in the adjacent area?"

    Parcel to be rezoned from low-density residential to government. Parcel, at 7+ acres, is dwarfed by surrounding parcels. (We're talking low density here)

    Because one adjacent is already the PW shop cum sewage treatment facility, the neighbors already live by this use. BTW a 100' wide electric line easement is also adjacent.

    Thanks for the replies. I am OJT and trying to learn this kind of thinking.

  5. #5
    Cyburbian wahday's avatar
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    I wouldn't think that simply acquiring the land the government would change anything with regards to adjacent property values. Its what happens with that land that matters. Land USE is what will determine area values, not who owns it. As others have said - a park will impact adjacent values in the positive. An electrical stepdown station - not so much. It sounds like the area is already in a tough spot as far as appropriate mix of uses. I expect the residents will want to know what the municipality's plan is with regards to the property and maybe even some assurances that it will be developed as such.
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    Cyburbian SGB's avatar
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    Ask your assessor for an opinion.
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  7. #7
    Cyburbian fringe's avatar
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    Quote Originally posted by SGB View post
    Ask your assessor for an opinion.
    In our county that department has been the center of a vortex of controversy. Digests have been delivered late for several consecutive years, four different chiefs in about six years, a board whose every member was summarily fired in one stroke by the governing body last year, with suits and countersuits between one board and the other. I guess it's democratic gubmint in action.

    I'd sooner not bother them.

    Below is my story and I'm stickin' with it.

    9)Will the proposed change adversely affect property values in the adjacent area?

    Because the subject parcel is adjacent to an existing use identical to the proposed one, I think adverse effect, if any, will be minimal.

  8. #8
    Unfrozen Caveman Planner mendelman's avatar
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    I would agree that any adverse effect would be minimal, becuase there is already a sizeable (I presume) presence with the existing muni facility. Plus, the property to be acquired may be 7 acres, but how is it configured? It could be 300 ft wide and really deep, so any neighbor next in line from the current muni facility would certainly be affected already, right?

    If any of the nearby owners think this will be detrimental, then make them supply data for their position first, before the muni does any major analysis on it.
    I'm sorry. Is my bias showing?

    Let's not be didactic in this profession, because that is a path to disillusion and irrelevancy.

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