Model for Estimating the Value of Property Access Rights (Revised)

摘要

Public highway agency actions limiting or denying individual property ownerrights of accessing public highways is a common occurrence. Statutory laws, in most states, grant property owners rights of accessing their property from public highways. If these rights are modified, property owners are sometimes compensated. The concept that properly owner access rights may have economic value is based, in part, upon public agency compensation practices. However, very little information has ever been published regarding estimation of the view, and to develop value estimation procedures. Access rights and their economic value are examined through an extensive review of related case law. Significant numbers of cases evolve from property owner disagreements with compensation offered by public agencies. One important fact derived from this examination is that court-mandated access right values are highly variable. The question of temporary modification or denial of access to public highways during construction or rehabilitation is also examined. Results of a survey of property owners adjacent to a recent major construction effort are included.