What is the fair market value of my property?

The fair market value of your property in Washington is determined by a variety of factors, including the type of property, its size, the condition of the property, its location, and the recent sales of similar properties in the area. To calculate the fair market value of your property, it is best to consult a qualified appraiser or real estate agent. In Washington, the concept of eminent domain – the right of the state to take private property for public use – is governed by state law. Generally, state law requires the government to compensate landowners when their property is taken through eminent domain. This compensation is often based on the fair market value of the property. When the government seeks to acquire private property through eminent domain, it typically initiates two valuations of the property – one for the owner, and one for the government. These valuations are usually determined through the “before and after” method. This method evaluates the value of the property before and after any proposed changes by the government. When it is determined that the proposed changes will raise the value of the property, the government has the right to compensate the owner for the increase in value. Once these valuations are determined, the government and the owner can agree on the fair market value of the property. It is important to remember that the government is not obligated to accept the owner’s appraisal and can make an offer based on its own appraisal. If the owner disagrees with the award, they have the right to take further legal action.

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What is the fair market value of my property?

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