Under the Influence
Brad Kuhn is a featured author in the Q2 2018 issue of Valuation Magazine—a publication of the Appraisal Institute. The article is titled How the Project Influence Rule Can Affect Your Appraisals. When property is acquired for a public project, most jurisdictions require appraisers to follow the "project influence rule" and ignore any change in property value as a result of the project. In its simplest terms, the rule says the determination of compensation must be considered as if the public project hadn’t happened. The project influence rule has been applied throughout the country and is intended to operate as both a sword and a shield for property owners and public agencies, preventing a party from being under- or overcompensated. The article addresses how the project influence rule applies in various scenarios.
To read the full article, click here.