Nonlinear Effects in Easement Valuation

Henry J. Munneke () and Joseph W. Trefzger ()
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Henry J. Munneke: University of Georgia Athens, Georgia 30602, http://www.uga.edu/
Joseph W. Trefzger: Department of Finance, Insurance and Law Illinois State University Normal, Illinois 61761, http://gilbreth.cob.ilstu.edu/fil/

Journal of Real Estate Research, 1998, vol. 16, issue 2, pages 219-228

Abstract: Rules of thumb have been developed to assist appraisers in dealing with the uncertainties that abound when easement values must be estimated. An economic analysis of one popular rule-of-thumb technique, based on a fixed percentage of the value of a hypothetical fee simple interest in the affected land, reveals that such methodology could not generally be expected to yield meaningful results. If a rule of thumb were to be employed, its use would be more supportable if the underlying assumptions reflected the nonlinear structure of land values.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1998
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