Module 4 Public Restrictions on Ownership

Taxation

property taxes are levied according to value

Property Tax

a recurring local tax paid by real estate owners, calculated as a percentage of their property’s assessed value to fund public services like schools, roads, and emergency response

Administering Property Tax

Identify alll properties and estimate their values. Upon sale of a property an “Affidavit of Value” is recorded and assists the assessor in increasing the property market value

Power of Eminent Domain

government right to take private property for public use

Inverse Condemnation

sometimes a property owner may feel that a governmental restriction has effectively “taken” the property from the owner

Escheat

government’s right to acquire ownership of land when the landowner dies without a will and without heirs

Police Power

power the regulate use of private property to protect the greater good

Police Power General Plan

many jurisdictions enact laws to create a plan for the orderly development of the community, the “comprehensive General Plan”. Not static long-range pallnning continually revise as conditions change

Zoning

division of communities land into districts to regulate the use of land and buildings and the intensities of various uses

Building Codes

a set of municipal, county, or state regulations that establishes minimum safety, health, and structural standards for the construction, alteration, repair, and maintenance of buildings

Sub-divider

any person who offers for sale or lease six or more lots, parcels or fractional interest in a subdivision or who causes land to be subdivided into a subdivision for the subdivider or for others, or who undertakes to develop a subdivision

Subdividing Process

pre application conference, approval of preliminary plat, approval of final plat, mandatory dedication, impact fees