EFFECT OF SCENIC EASEMENTS ON THE MARKET VALUE OF REAL PROPERTY

SCENIC EASEMENTS WERE ACQUIRED BY THE STATE OF NORTH CAROLINA IN ALLEGHENY COUNTY FOR THE BLUE RIDGE PARKWAY BEGINNING IN 1935. THE PROPERTY WAS ACQUIRED BY THE STATE OF NORTH CAROLINA, AND THE TITLE TO THE LAND AND EASEMENT WAS TRANSFERRED TO THE UNITED STATES OF AMERICA. ENFORCEMENT OF THE RESTRICTIONS IMPOSED BY THE SCENIC EASEMENTS IS THE RESPONSIBILITY OF THE PARKWAY RANGERS. AS A PRACTICAL MATTER, THE APPRAISERS UNDERSTAND THAT THE PARKWAY RANGERS HAVE NO EFFECTIVE AUTHORITY EXCEPT ON THE LAND OWNED BY THE FEDERAL GOVERNMENT IN FEE SIMPLE. THE RANGERS ATTEMPT TO DISCOURAGE MISUSE OF THE EASEMENT AREA BY PERSONAL CONTACT. IT IS ACKNOWLEDGED BY BOTH THE RANGERS AND THE PARKWAY OFFICIALS THAT THE RANGERS' LEGAL ABILITY TO ENFORCE THE EASEMENT IS QUESTIONABLE. THE PURPOSE OF THIS STUDY IS TO FIND WHAT DIFFERENCE, IF ANY, WAS RECOGNIZED BY BUYERS AND SELLERS IN THE MARKET VALUE OF LAND SUBJECT TO THESE RESTRICTIONS. THIS DIFFERENCE IN MARKET VALUE IS MEASURED BY THE APPRAISERS BY ANALYZING AND COMPARING SALES OF PROPERTY ADJOINING THE BLUE RIDGE PARKWAY THAT WERE SUBJECT TO SCENIC EASEMENTS, WITH SALES OF PROPERTY ADJOINING THE BLUE RIDGE PARKWAY WHICH WERE NOT SUBJECT TO THIS EASEMENT. IN THE TRANSACTIONS STUDIED, THE APPRAISERS FOUND NO INDICATION OF SEVERANCE DAMAGE CAUSED BY THE IMPOSITION OF THE SCENIC EASEMENTS. /AUTHOR/

  • Supplemental Notes:
    • Vol 36, No 1, PP 15-24
  • Authors:
    • Williams, H L
    • Davis, W D
  • Publication Date: 1968-1

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  • Accession Number: 00204708
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Mar 12 1994 12:00AM