Agmt01 County of San Mateo - Laserfiche WebLink

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valuation, as interpreted by California State law will be used. In these instances, the appraiser will indicate if the remainder constitutes an economic or uneconomic unit in the market and to the present owner. See Section 7.03.04.02 of Caltrans Appraisal Handbook regarding alternate appraisal requirements if the remainder constitutes an uneconomic remnant to the owner. 5. Purpose of Appraisal. The purpose of the appraisal which includes a statement of defining the values to be estimated and the rights or interest being appraised. 6. Description of Property. Description of the property to be appraised will include: a. Parcel number b. Names of apparent owner of each interest being valued c. Location of property d. Total area of property in acres or square feet e. Area of each interest in property being acquired in acres or square feet f. A minimum of five years delineation of title g. Present use and zoning h. General Plan i. Utilities j. Type and condition of improvements and special features that may add or detract from the value of the property k. Hazardous waste information (See Sections 7.04.12.00 through 7.04.12.07 of Caltrans Appraisal Handbook.) 7. Highest and Best Use. The highest and best use of the subject property in the before condition (before the taking) must be determined and supported. Also, if a partial taking is involved, the highest and best use of the property in the after condition (after the taking) must be determined and supported. In either instance, if the existing use is not the premise on which the valuation is based, the appraisal will contain an explanation justifying the determination that the property is available and adaptable for a different highest and best use and there is demand for that use in the market. 8. Approaches to Value. The appraisal should include applicable approaches to value. If an approach is not considered applicable, the appraiser will state why. All pert'ment calculations used in developing the approaches will be shown. a. In the MARKET APPROACH, the appraisal report will contain a direct comparison of pertinent sales to the property being appraised. The appraiser will include a statement setting forth his analysis and reasoning for each item of adjustment to comparable sales. See Section 7.05.02.01 of Caltrans Appraisal Handbook. 6 of 10 Appendix "B"