VALUATION OF BILLBOARDS FOR REMOVAL UNDER THE HIGHWAY BEAUTIFICATION ACT OF 1965

The legislative background to the problem is reviewed and the requirements that must be satisfied for the removal of nonconforming signs is set forth. The policy procedure to be adopted in the determination of compensation is by use of (1) schedules and formulas, (2) valuation by abbreviation or standard appraisal reports, (3) lease hold value, or (4) special valuation where severence damage may be involved. The valuation of sites and of signs is covered. Costs are determined by reference to the national schedules and modifiers or by another approved State schedule, and then depreciated by losses due to deterioration, obsolescence or both. As an alternative to the above method, a "gross rent multiplier" method may be used where sufficient reliable data on current sales of rented signs are avaialble. Summaries are presented of recent cases of the appropriateness of valuation methods used in determining compensation for the taking of roadside advertising signs through condemnation passed upon by courts. It is also noted that decisions relating generally to valuation of leasehold interests in eminent domain may indirectly rule regarding valuation of advertising signs where such signs involve formal leases.

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Filing Info

  • Accession Number: 00080825
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Mar 6 1975 12:00AM