Technical and Legal Examination of Expert Reports Related with Determining Agricultural Land Expropriation Value

Abstract

According to the Expropriation Law, the value of the land is determined based on the income obtained from the land. On the income approach, one of the two factors that determine the value of the land is net income and the other is the capitalization rate. Due to the errors in the expert reports, different results are obtained in the value of the land than it should be. Lower or higher determination of a land value can result in more court cases, delays in investments, the considerable disadvantage of owners, and loss of public confidence in the expropriation process. The main data of the article consists of the information obtained by 180 appraiser reports on land valuation. In this paper, mistakes and deficiencies of expert reports are identified, and technical and legal solutions are proposed. It is expected that this paper will be a reference for individuals and institutions, particularly for experts involved in report preparation.

Keywords

• land valuation
• appraiser
• expropriation law
• supreme court decisions