How do I determine the fair market value of my property?

In California, determining the fair market value of property for eminent domain law purposes can be a complicated process. Generally, it is best to gather evidence from a variety of sources to help decide the value. The first step is to research comparable properties in the area. Look for properties with comparable characteristics such as size, location, condition, and amenities. Compare their current value to what they were worth when they were purchased. This can give you an estimate of the market’s value on your property. You can also consider the value of your property based on its current use. For example, if your property is currently zoned for commercial use, its value may be higher than if it was zoned for residential use. You may also want to get professional help to assess the fair market value of your property. There are professional appraisers, who are licensed and certified by the state, that can provide you with an independent opinion of the value of your property. Professional appraisal fees can range from a few hundred to several thousand dollars, so it is important to weigh the benefits and costs of getting a professional opinion of your property’s value. Finally, you can use online resources, such as those provided by the county assessor’s office, to research the current pricing of similar properties in your area. By gathering data from multiple sources, you can come to a fair and accurate assessment of your property’s fair market value for eminent domain law purposes.

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How do I determine the fair market value of my property?

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