VALUATION OF AIR SPACE

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

Media Info

  • Features: Figures; References; Tables;
  • Pagination: 43 p.
  • Serial:
    • NCHRP Report
    • Issue Number: 142
    • Publisher: Transportation Research Board
    • ISSN: 0077-5614

Subject/Index Terms

Filing Info

  • Accession Number: 00239004
  • Record Type: Publication
  • Files: TRIS, TRB, ATRI
  • Created Date: Apr 11 1974 12:00AM