How does the government determine the fair market value of my property?

The government typically determines the fair market value of property through an appraisal process. An appraisal is conducted by a certified appraiser who is impartial and has expertise in the valuation of real estate. In California, the appraiser must be licensed or certified by the Office of Real Estate Appraisers. The appraiser will assess the property, including the land and any improvements, and determine the estimated fair market value. Generally, the appraiser will consider factors such as location, size, and condition of the property, the surrounding area, local real estate market trends, and comparable sales of similar properties. Once the appraiser has conducted the appraisal, the appraised value is reported to the government, which can then use the value to make an informed decision when employing eminent domain law. The government will usually offer compensation to the property owner that is equal to the appraised value. However, the property owner may disagree with the appraised value and can get a second appraisal. In the end, the fair market value of the property will be determined by a court or a jury if it is disputed.

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