One interesting valuation issue eminent domain attorneys and appraisers run into in California is when a "special use" property -- such as a church or school -- faces condemnation. How does one value such a property when there is no relevant market or comparable sales to rely on?
The Legislature enacted Evidence Code section 824 to deal with such situations, specifically providing that such special use properties can be valued based on a reproduction or replacement cost analysis (i.e., the cost of purchasing replacement land, making the land suitable for the same use, and the cost of ...
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