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

Determining the fair market value of your property in Texas is important to ensure that you get what you are rightfully owed should your land be subject to eminent domain. Generally, this means that you can receive the same amount of money as you would if you were selling the property on the open market voluntarily. Under Texas law, the primary method for determining the fair market value of your property is to hire a certified real estate appraiser. The appraiser will evaluate your property and any other similar properties on the real estate market, and will estimate the sale price that could be expected if the property was sold. The appraisal should consider the size, location, and condition of your property, as well as the prevailing real estate market trends in your area. In some cases, Texas law also allows you to receive compensation for damage to the marketability of the property caused by a public improvement, such as loss of access, reduced visibility, or soil contamination. In such cases, you may need to hire a professional engineer to evaluate the damage done to your property, and estimate the cost of such damage. The assessor or appraisal professional you hire should be familiar with Texas eminent domain law. They should also be able to provide you with a written appraisal report, which can be used as evidence in court should you need to dispute the compensation offered by the government.

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

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