Real Estate & Property Law

Fighting Over Waterfront Property is Always an Issue

By Alan Ackerman

What is the highest and best use of waterfront property? Sometimes, existing industrial uses are highest and best. But all too frequently, the highest and best use is some other type of development, such as high rise apartments, a marina, or other use concomitant to a waterway. Bob Turner planned to open a restaurant and full-service marina on his waterfront property before county officials decided to condemn his land to expand a public boat ramp. The parties continue to dispute the value of his property.   

Savannah Morning News

The lowest value provided by one county-hired appraiser, $460,000, was significantly lower than the $1.3 million value an appraiser for Turner claimed the property is worth.

Those were not the only values presented, however.

Each of the county's two appraisers presented two different values, with the second one conducted during a later date, at the request of the county.

In addition, one of the appraisers hired by the county, Joel Crisler, increased the valuation of the property by about $90,000 the second time, when he based the appraisal on a assumed use of the property as a full-service marina - something later contested by the county - rather than on comparable sales as he had done the first time.

Full post as published by National Eminent Domain Blog on January 14, 2011 (boomark / email).