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Right-of-Way Costs and Property Values: Estimating the Costs of Texas Takings and Commercial Property Sales Data. Technical rept. (9/1/2003 - 8/31/2004).
| 题名： | Right-of-Way Costs and Property Values: Estimating the Costs of Texas Takings and Commercial Property Sales Data. Technical rept. (9/1/2003 - 8/31/2004). |
| 作者： | HAKIMI, S.; HEINER, J. D.; JARRETT, J.; KOCKELMAN, K. M. |
| 关键词： | *Right-of-way-Land; *Acquisition-; *Costs-; *Property-values; *Texas-.;Transportation-planning; Transportation-corridors; Highways-; State-laws; Federal-laws; Land-use; Sales-; Estimation-. |
| 摘要： | Right-of-Way (ROW) acquisition for highways and other transportation improvements can be very expensive, time-consuming, and socially sensitive. Accurate ROW cost estimation, efficient acquisition practices, and appropriate federal and/or state laws can be keys to successful completion of ROW acquisition. This report reviews the literature related to ROW acquisition, and highlights the findings of expert interviews. Hedonic price models were proposed using recent acquisition data from several Texas corridors and separate databases of full-parcel commercial sales transactions for Texas largest regions. For the latter, the method of feasible generalized least squares (FGLS) was employed to correct the standard error terms for heteroskedasticity. The models presented here add considerably to the literature and research in this area and should prove valuable to ROW professionals, transportation planners, developers, appraisers, and others involved in ROW cost estimation and commercial property valuation. A cost estimation tool developed in Excel, accompanied by a supporting document providing instructions on its application, was presented to Texas ROW administrators as a potential budget estimation tool for future tasks. |
| 报告类型： | 科技报告 |
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