California Public Resources Code 12262 – An applicant shall select and retain an independent real estate …
Current as of: 2024 | Check for updates
|
Other versions
An applicant shall select and retain an independent real estate appraiser to determine the value of the conservation easement, which shall be calculated by determining the difference between the fair market value and the restricted value of the property.
(Added by Stats. 2007, Ch. 657, Sec. 1. Effective January 1, 2008.)
Terms Used In California Public Resources Code 12262
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.