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Title: VALUATION OF AIR SPACE
Accession Number: 00239004
Record Type: Monograph
Availability: Find a library where document is available Abstract: THE PRINCIPAL OBJECTIVE OF THIS STUDY WAS DEVELOPMENT OF THE MOST APPROPRIATE METHOD OF PLACING A VALUE ON THE AIR SPACE ABOVE AND BELOW MAJOR HIGHWAYS. THE RECOMMENDED METHOD OF VALUATION RECOGNIZES AIR RIGHTS AS REAL PROPERTY AND IS IN ACCORDANCE WITH LEGAL PRECEDENT REGARDING THE THREE BASIC METHODS OF APPRAISAL, HIGHEST AND BEST USE, ZONING, DEED RESTRICTIONS, PROPERTY TAXATION, AND TAXATION ON LEASES OF PUBLIC PROPERTY. INVESTIGATION OF PRIVATE AIR SPACE ABOVE HIGHWAYS REVEALED ONLY NINE CASES. AN INFORMAL SURVEY OF STATE HIGHWAY AGENCIES INDICATED THAT VALUATION ON THE BASIS OF COMPARABLES WAS THE COMMON METHOD OF DERIVING A LEASE RATE FOR PRIVATE USE OF AIR SPACE BELOW ELEVATED HIGHWAYS. THE RESULTING CONCLUSION WAS THAT NUMEROUS PUBLIC AND PRIVATE USES OF AIR SPACES ARE FEASIBLE IF SUITABLE CRITERIA ARE DEVELOPED. PUBLIC-PRIVATE JOINT DEVELOPMENT IN HIGHWAY PLANNING AND RIGHT-OF-WAY ACQUISITION DOES NOT APPEAR FEASIBLE ON A WIDESPREAD BASIS
Supplemental Notes: Distribution, posting, or copying of this PDF is strictly prohibited without written permission of the Transportation Research Board of the National Academy of Sciences. Unless otherwise indicated, all materials in this PDF are copyrighted by the National Academy of Sciences. Copyright © National Academy of Sciences. All rights reserved.
Pagination: 43 p.
Publication Date: 1973
Serial: Media Type: Digital/other
Features: Figures
(14)
; References
(92)
; Tables
(5)
TRT Terms: Old TRIS Terms: Subject Areas: Finance; Highways; Law
Files: TRIS, TRB, ATRI
Created Date: Apr 11 1974 12:00AM
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