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Oconee County Conservation Bank Board Agenda Page 1 of 1
November 19, 2019
A G E N D A OCONEE COUNTY
CONSERVATION BANK BOARD
November 19, 2019
9:00 AM Oconee County Administrative Offices
Council Chambers, 415 South Pine Street, Walhalla, SC
1. Call to Order
2. Approval of Minutes
September 17, 2019 Meeting
3. Treasurer’s Report [handouts provided]
Community First Bank
September 2019
October 2019
Local Government Investment Pool [State Pool]
September 2019
October 2019
4. Discussion Items [to include Vote and/or Action on matters brought up for discussion, if required]
Continued discussion regarding Alternate Funding Sources
Discussion and/or action regarding Presentation to Oconee County Council
5. New Business
Statement of Interest and Full Application from Estate of William C. Lyles
TMS: 080-00-02-001
6. Old Business
7. Adjourn
[This agenda is not inclusive of all issues which the board may bring up for discussion at this meeting.]
There will not be any Public Comment session at this meeting.
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of
34.3acresofpastureonTwinOaksLaneWestminster,SC29693
OconeeCounty
PropertyofPeggyE.Moore
PreparedattheRequestofPeggyE.Moore
PreparedfortheUseof:
USDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaConservationBank,andPeggyE.Moore
EffectiveDateofAppraisal:May17,2018DateofAppraisalReport:June1,2018
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June1,2018PeggyE.MooreRe: ConservationEasementAppraisal,34.3acresofpastureonTwinOaksLane,PropertyofPeggyE.
Moore,OconeeCounty,SC.Atyourrequest,Ihavepreparedanappraisalreportonthesubjectproperty.Thesubjectpropertyincludes34.3acres,allofwhichwillbesubjecttoaUSDANRCSFarmandRanchlandProtectionProgram(FRPP)con-servationeasement.TheeffectivedateoftheappraisalisMay17,2018,thedateofthepropertyinspection.Theobjectiveofthisappraisalwastoestimatethevalueofthesubjectlandbeforeandaftertheeasement.Iestimatethevaluestobe:
ValuebeforetheEasement(marketvalue): $146,000ValueAftertheEasement(easement-constrainedvalue): $65,000ValueoftheEasement(difference): $81,000
Theappraisalisbasedontheareadelineatedbytheplats,aerialphotographs,deeds,andtaxthatarein-cludedaspartofthereport.ThisUSPAP-compliantappraisalhasbeenconductedintheformatoftheUni-formAppraisalStandardsforFederalLandAcquisitions(UASFLA—YellowBook).However,thisisnotafor-malYellowBookconservationeasementappraisal.ThepurposeofthisappraisalisonlytoestimateabeforeandaftereasementvaluefortheuseoftheUSDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaConservationBank,andPeggyE.Moore—thisisappraisaltobeusedfortheapplicationofaneasement.Theappraisalproceduresandscopeoftheappraisalareexplainedindetailinthebodyofthere-port.Iappreciateyourbusiness.Iftherearequestions,pleasedonothesitatetocall.Sincerely,HOLSTEINAPPRAISALSRichardH.HolsteinIV,P.E. CertifiedGeneralAppraiser SC5509|GA345673|NCA7477
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PART I: GENERAL DATA 3. TABLE OF CONTENTS PartI:GeneralData..........................................................................................................................4
3.TableofContents.........................................................................................................................44.Appraiser’sCertification......................................................................................................................65.SummaryofSalientFactsandConclusions.....................................................................................76.PhotographsofSubjectProperty.......................................................................................................77.StatementofAssumptionsandLimitingConditions....................................................................88.ScopeoftheAppraisal...........................................................................................................................99.PurposeoftheAppraisal....................................................................................................................1010.SummaryofAppraisalProblems...................................................................................................11
PartII–FactualData–BeforeEasement....................................................................................1111.LegalDescription................................................................................................................................1112.Area,City,andNeighborhoodData................................................................................................1613.PropertyData......................................................................................................................................19
PartIII–DataAnalysisandConclusions–BeforeEasement................................................2114.HighestandBestUse..........................................................................................................................2115.LandValuation....................................................................................................................................2216.ValueEstimatebyCostApproach..................................................................................................2217.ValueEstimatebySalesComparisonApproach........................................................................2218.ValueEstimatebytheIncomeCapitalizationApproach.........................................................2619.CorrelationandFinalValueEstimate(BeforeEasement)......................................................26
PartIV–FactualData–AfterEasement......................................................................................2720.LegalDescription...............................................................................................................................2721.NeighborhoodFactors......................................................................................................................2722.PropertyData.......................................................................................................................................28
PartV–DataAnalysisandConclusions–AfterEasement.....................................................2923.AnalysisofHighestandBestUse...................................................................................................2924.LandValuation....................................................................................................................................2925.ValueEstimatebytheCostApproach...........................................................................................3026.ValueEstimatebytheSalesComparisonApproach.................................................................3027.ValueEstimatebyIncomeCapitalizationApproach................................................................3228.CorrelationandFinalValueEstimate(aftereasement).........................................................32
PartVII–EasementAnalysis........................................................................................................3229.Recapitulation.....................................................................................................................................3230.AllocationandExplanationofDamages......................................................................................3331.ExplanationofSpecialBenefits.......................................................................................................33
PartVII–ExhibitsandAddenda..................................................................................................3432.LocationMaps.....................................................................................................................................3433.ComparableDataMaps.....................................................................................................................35
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34.DetailofComparativeSalesData...................................................................................................3535.PlotPlan...............................................................................................................................................6436.FloorPlans...........................................................................................................................................6437.TitleEvidenceReport.......................................................................................................................6438.OtherPertinentExhibits..................................................................................................................64
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4. APPRAISER’S CERTIFICATION I,RichardH.HolsteinIV,theundersignedappraiser,doherebycertify:1. Ipersonallyinspectedtheproperty,34.3acresofpastureonTwinOaksLane,belongingtoPeggyE.
Moore,whichisthesubjectofthisappraisalreport,andhaverenderedanopinionofmarketvalueandtheeasement-constrainedvalue.Ipersonallyinspectedallsalepropertiesthatwereaccessiblethatwereusedinthevaluationprocess.
2. Ihavenopresentorprospectiveinterestinthepropertythatisthesubjectofthisreportandhavenoper-
sonalinterestorbiaswithrespecttothepartiesinvolved.3. Ihavenopersonalinterestorbiaswithrespecttothesubjectpropertyoranyindividualwhodoeshave
suchinterests.4. Tothebestofmyknowledgeandbelief,thestatementsoffactinthisreport,uponwhichanalyses,opin-
ions,andconclusionsweremade,aretrueandcorrect.5. Mycompensationisnotcontingentonanactionoreventresultingfromtheanalyses,opinions,orconclu-
sionsin,ortheuseof,thisreport.6. Thisappraisalreportsetsforthallofthelimitingconditionsimposedbythetermsofourassignmentor
bytheundersignedaffectingtheanalyses,opinions,andconclusionscontainedinthisreport.7. Theanalyses,opinions,andconclusionsweredeveloped,andthisreporthasbeenprepared,inconform-
itywiththeUniformStandardofProfessionalAppraisalPractice.8. Nooneprovidedsignificantprofessionalassistancetothepersonsigningthisreport.9. Thisappraisalassignmentwasnotmade,norwastheappraisalrenderedonthebasisofarequestedval-
uation.Richard.H.HolsteinIVmadeapersonalinspectionoftheappraisedpropertythatisthesubjectofthisreportandallcomparablesalesusedindevelopingtheopinionofvalue.ThedateofinspectionwasMay17,2018,andthemethodofinspectionwasasitevisit.Inmyopinion,asofMay17,2018,themar-ketvalueofthelargerparcelbeforeconveyanceofthepartialinterestis$146,000.Themarketvalueofthelargerparcelafterconveyanceofthepartialinterestis$65,000.
10. Ihaveperformednopreviousworkonthesubjectpropertyforanyotherclient. Richard.H.Holstein,IV,P.E. CertifiedGeneralAppraiser SC5509|GA345673|NCA7477
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5. SUMMARY OF SALIENT FACTS AND CONCLUSIONS
Client(s): PeggyE.Moore LandOwner: PeggyE.Moore
IntendedUsers: USDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaConservationBank,andPeggyE.Moore
SubjectProperty: 32.55±Acres AcresinEasement: 32.55±AcresObjectiveofReport: ToEstimateConservationEasementValueIntendedUse: ConservationEasement PropertyRightsAppraised: SeeDiscussioninAppraisalReportHighestandBestUse: SeeReportValueEstimates
ValueBeforeEasement $146,000 ValueAfterEasement $65,000 EasementValue $81,000 EffectiveDateofAppraisal: May17,2018DateofAppraisalReport: June1,2018 Appraiser: RichardH.HolsteinIV
521 W Railroad Ave Batesburg-Leesville, SC 29006
803.532.3955 www.HolsteinAppraisals.com
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6. PHOTOGRAPHS OF SUBJECT PROPERTY RichardH.HolsteinIVtookallphotographsonJune7,2016,thedateofthepropertyinspection.Thephoto-graphsareinSection38oftheAddendum.
7. STATEMENT OF ASSUMPTI ONS AND LIMI TING CONDI TIONS Iassumethefollowing:1. Therearenohiddenorunapparentconditionsoftheproperty,subsoil,orstructuresthatrenderit
moreorlessvaluable.Noresponsibilityisassumedforsuchconditionsorforarrangingforengi-neeringstudiesthatmayberequiredtodiscoverthem.
2. Thereisfullcompliancewithallapplicablefederal,state,andlocalenvironmentalregulationsand
lawsunlessanonconformityhasbeenstated,defined,andconsideredinthisreport.3. Allapplicablezoninganduseregulationsandrestrictionshavebeencompliedwithunlessotherwise
noted.4. Noresponsibilityforthelegaldescriptionorformattersincludinglegalortitleconsiderations.Title
tothepropertyisassumedtobegoodandmarketableunlessotherwisestated.5. Responsibleownershipandcompetentpropertymanagement.6. Theinformationfurnishedbyothersisbelievedtobereliable.However,nowarrantyisgivenforits
accuracy.7. Allengineeringiscorrect.Theplotplansandillustrativematerialinthisreportareincludedonlyto
assistthereaderinvisualizingtheproperty.8. Allrequiredlicenses,certificatesofoccupancy,consents,orotherlegislativeoradministrativeau-
thorityfromanylocal,state,ornationalgovernmentorprivateentityororganizationhavebeenorcanbeobtainedorrenewedforanyuseonwhichthevalueestimatecontainedinthisreportisbased.
9. UseoftheappraisalislimitedtoUSDANRCS,theOconeeSoilandWaterConservationDistrict,the
SouthCarolinaConservationBank,andPeggyE.Mooreandtheirassigns.Theuseofportionsex-cerptedfromthecompletereportisprohibited.
10. Theappraiserisnotrequiredtogivetestimonyorappearincourtbecauseofhavingmadethisap-
praisalreportunlessarrangementshavebeenpreviouslymadetherefore.11. Unlessotherwisestated,theexistenceofhazardousmaterial,whichmayormaynotbepresenton
thesubjectproperty,wasnotobserved.Theappraiserisnotqualifiedtodetectsuchsubstances.Thevalueestimateispredicatedontheassumptionthatthereisnosuchmaterialonorinthepropertythatwouldcausealossinvalue.Noresponsibilityisassumedforanysuchconditions,orforanyex-pertiseorengineeringknowledgerequiredtodiscoverthem.Thisincludesanysubsurfacedamagedonebyundergroundfueltanksthatmayormaynotbephysicallypresentontheproperty.
12. Revenuestampsplacedondeedsasrequiredbylaw,instateswhereapplicable,accuratelyreflectthe
purchasepriceofproperties.
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13. Informationinthisreportisbasedonthebestsourcesavailabletotheappraiserandbelievedtobeaccurate;however,noresponsibilitycanbeassumedfortheresultsofactionsbyanyonebasedontheuseofthisinformation.
14. Anytimbervaluesorvolumesreportedinthisreportarebasedonvisualestimatesorlimitedsam-
plingunlessotherwisestated.Itisbeyondthescopeofthisappraisaltopreciselyestimatetimbervolumes.Ifsuchisrequired,Iwillobtaintheservicesofaqualifiedforester,providedsuitablear-rangementsforpaymentsaremade,incorporatesuchdataintothisappraisal,andmakeanyvalueadjustmentswhichmayresultfromsuchaninventory.
15. NohabitatsforspeciesprotectedundertheEndangeredSpeciesActexistonthesubjectproperty.
Theappraiserisnotqualifiedtoidentifysuchspeciesorsuchhabitatifsuchshouldexist.
8. SCOPE OF THE APPRAISAL
ThesubjectpropertyisaportionofalargerparcelthatwillbesubjecttoafederalFarmandRanchlandPro-tectionProgram(FRPP)conservationeasement.TheFRPPprogramisauthorizedin7CFR1491.Section1491.4(g)states:
Priortoclosing,thevalueoftheconservationeasementmustbeappraised.AppraisalsmustbecompletedandsignedbyaStatecertifiedgeneralappraiserandmustcontainadisclosurestatementbytheappraiser.TheappraisalmustconformtotheUniformStandardsofProfes-sionalAppraisalPracticesortheUniformAppraisalStandardsforFederalLandAcquisitions...
Inthisappraisal,IhaveusedtheformatoftheUniformAppraisalStandardsforFederalLandAcquisi-tions(UASFLA,“YellowBook”);however,IhaveconductedtheappraisaltoUSPAPstandards.Whendevelopinganopinionofvalueforaconservationeasement,theFRPPguidelinesspecifythefollowingmethodology:valueofsubjectbeforeeasement(A)-valueofsubjectaftereasement(B)=valueofeasement(C)
Ifrightsarelostbyvirtueoftheeasement,thentheserightsmustbevaluedincondition(A).Iftherightsarenotlostoraffectedbyvirtueoftheeasement,thenthereisnoneedtoassignvaluetotheserightsincondition(A),astheywouldsimplybesubtractedincondition(B)ifthereisnoenhancementordamagesotherwiseduetotheapplicationoftheeasement.Thecomponentvaluesbeforeandafterastheyrelatetothesubjectareshownthediagrambelow:
BeforetheEasement(A) � AftertheEasement(B)
Valueoftheland
� Valueoftheland(someoftheowner’srightstothelandarelost)�
Contributoryvalueofthetimber =� Contributoryvalueofthetimber(notimberrightsarelostthatwouldimpactvalueandtherearenomerchantabletimbervolumesontheproperty)
Contributoryvalueoftheexist-ingimprovements
= Contributoryvalueoftheexistingimprovements.Theeasementareacontainsnoimprovements,andthereisnoenhancementtotheadjacentimprovementsasdiscussedinthereport.
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First,Iestimatedthemarketvalueofthesubjectpropertywithitsexistingrights.Isoughtthemostcompara-blesalesofsimilartractsinOconeeCounty.Iusedseveralrealestatereportingservices,registersofdeeds,andtaxassessordata.Ifoundeightcomparablesales.Next,Iestimatedthevalueofthelandasifsubjecttotheeasement.Thebestindicationsofthevalueofthesubjectaftertheeasementaresalesofreasonablycomparablepropertieswithcomparableeasements.Ideally,thiswouldinvolvenearbysaleswithconservationeasementssimilartothatbeingproposedforthesubject.Inpractice,thisisnotusuallypossible.Instead,theappraisermustoftenusesalesofeasement-con-strainedlandswithawidevarietyoflandtypesandeasementtypesandadjustthesalesaccordingly.Thekeyconditionsandrestrictionsoftheproposedconservationeasementcanbefoundlaterinthisreport.Essen-tially,theeffectoftheproposedconservationeasementistorestrictsubdivisionanddevelopmentofthepropertysuchthatitcanbeutilizedfornohigherusethanagricultural.Ifoundsixcomparableeasementsales.
9. PURPOSE OF THE APPRAISAL PeggyE.MooredesirestoplaceaFRPPconservationeasementonthesubjectland.Thepurposeoftheap-praisalistoprovideanopinionofmarketvalue,asdefinedbelow,ofthesubjectpropertybeforeacquisitionoftheeasement(beforevalue)andanopinionofmarketvalueofthesubjectpropertyaftertheproposedeasementhasbeenplaced(aftervalue)asofacurrentdateofvalue. FUNCTION OF T HE APPRAISAL Thefunctionofthisappraisalistoassistintheapplicationoftheconservationeasement.RIGHTS APPRAISED First,Iestimatedthevalueofthefeesimplesurfacerightsofthesubjectlandbasedonits“asis”condition.Second,Iestimatedthevalueofthesubjectafterthelossofrightsduetotheapplicationoftheconservationeasement.INTENDED USERS TheintendedusersareUSDANRCS,theOconeeSoilandWaterConservationDistrict,theSouthCarolinaCon-servationBank,andPeggyE.Mooreandtheirassigns.Allothersareconsideredunintendedusers.DEFINIT ION OF VALUE1 MARKETVALUEisthemostprobablepricewhichapropertyshouldbringinacompetitiveandopenmarket
underallconditionsrequisitetoafairsale,thebuyerandsellereachactingprudentlyandknowledgea-bly,andassumingthepriceisnotaffectedbyunduestimulus.Implicitinthisdefinitionistheconsumma-tionofasaleasofaspecifieddateandthepassingoftitlefromsellertobuyerunderconditionswhereby:
(a) Buyerandselleraretypicallymotivated; (b) Bothpartiesarewellinformedorwelladvised,andactinginwhattheyconsidertheirownbestinterests;
1UniformStandardsofProfessionalAppraisalPractice,2003ed.(Washington,D.C.:AppraisalFoundation2003),p.3.
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(c) Areasonabletimeisallowedforexposureintheopenmarket; (d) PaymentismadeintermsofcashinU.S.dollarsorintermsoffinancialarrangementscomparablethereto;
and (e) Thepricerepresentsthenormalconsiderationforthepropertysoldunaffectedbyspecialorcreativefinanc-
ingorsalesconcessionsgrantedbyanyoneassociatedwiththesale (f) ThevalueisnotbasedondistressedsalesJURISDICT IONAL EXCEPT IO N AsthisisaUSPAP-compliantappraisalandnotaUASFLA-compliantappraisal,nojurisdictionalexceptionisrequired.
10. SUMMARY OF APPRAISAL PROBLEMS Iencounterednoproblemsthatwouldweakenmyconfidenceinthefinalopinionofvalue.
PART II–FACTUAL DATA–BEFORE EASEMENT 11.LEGAL DESCRIPTION Atypicalconservationeasementmustconsidereitherthelargerparcel(ifusingUASFLAguidelines)ortheentirecontiguousparcel(ifusingIRSguidelines)whenpreparingaconservationeasementappraisal.Thesetwoconditionsaresimilar,butslightlydifferentasexplainedinthefollowingsections.
LARGER PARCEL DETERMINAT ION-UASFLA GUIDELINES Inaformaleasementappraisal,theUASFLAguidelinesrequirethedeterminationofthe“largerparcel”whenevaluatingconservationeasements.Theexplanationisshownbelow:
11.PartialAcquisitions.WhentheUnitedStatesacquiresonlypartofaunitaryholding,federallawrequiresthatcompensationbemadenotonlyforthepropertyinterestacquired,butalsoforthediminu-tion,ifany,inthevalueoftheremainderdirectlycausedbytheacquisitionand/orbytheusetowhichthepartacquiredwillbeput.Thisdiminutioninthevalueoftheremainderisoftenand“somewhatloosely”referredtoasseverancedamage.Whentheremainderisspeciallybenefitedasaresultofthegovernment’sproject,thevalueoftheremainderwillreflectthatfact,whichwillresultinalesseningofthecompensationpaidtothelandowner.Itisessentialtoapartialtakingandtotheapplicationoftherulesonseverancedamagesandspecialbenefitsthatthelandacquiredbepartofaunitaryholding(a“whole”),commonlyreferredtoasthelargerparcel.Itisoftendifficulttodeterminewhatconstitutesthewholepropertycomprisingthepartacquiredandtheremainder,inparticularwhentherearevastacreagesornon-contiguousparcelsinvolved.Becauseofthisdifficulty,testshavebeenestablishedtodeterminethelargerparcel.First,theremustbeaunityofownershipinallpartsofthewhole.Second,theremustbeaunityofhighestandbestuseforallpartsofthewhole2.
2UniformAppraisalStandardsforFederalLandAcquisitions(UASFLA)
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UN I T Y O F OW N E R S H I P
Unityofownershipistypicallyunderstoodtomeanthatthepropertiesmustbeunderthesameownership.However,thisrulehasbeeninterpretedinseveralwayswheretheownermayownseveralcompanieseachowningseparateparcelsthathaveaunityofuseandthereforeconstitutealargerparcel.Generally,theown-ershipmustbethesame.
UN I T Y O F H I G H E S T A N D B E S T US E
Thehighestandbestuseofapropertymaydependontheuseofanadditionallot.Asupermarketwithaparkinglotlocatednextdoorbutnotpartofthecombinedlotoralumbermillintownandawoodlotseveralmilesawayprovidingthematerialforthemillareclassicexamples.Ingeneral,allcontiguousfamilyownedproperty,whethertheparcelshavethesamehighestandbestuseornot,mustbeappraised.Inaddition,theappraisalmustseparatelytakeintoaccountANYproperty(notjustcontiguous)thathasanincreaseinvaluewhichiseitherownedbythedonorORtheowner’simmediatefam-ily.However,forFRPPappraisalsonagriculturalproperties,itisexceedinglyrarefornon-contiguousparcelstohaveaunifiedhighestandbestusethatwouldbeaffectedbytheapplicationoftheeasementtoaportionofthewhole.ENTIRE CONTIGUOUS PARCEL DETERMINATION—IRS GUIDELINES ForUSPAP-compliantconservationeasementappraisals,theIRShassimilar,butslightlydifferentrulesfordeterminingenhancementordiminutionofnon-easementpropertiesunderthesameownership.TheIRScallsthisthe“entirecontiguousparcel:”
TreasuryRegulation26CFRSection1.170A-14(h)(3)(i)Theamountofthedeductioninthecaseofacharitablecontributionofaperpetualconservationre-strictioncoveringaportionofthecontiguouspropertyownedbyadonorandthedonor’sfamily(asde-finedinsection267(c)(4))isthedifferencebetweenthefairmarketvalueoftheentirecontiguouspar-celofpropertybeforeandafterthegrantingoftherestriction.
TheInternalRevenueServiceCodedefinesthedonor’sfamilyasfollows:
Thefamilyofanindividualshallincludeonlyhisbrothersandsisters(whetherbythewholeorhalfblood),spouse,ancestors,andlinealdescendants.
Therefore,inordertocomplywithtreasuryregulations,anappraisermustappraisetheproposedeasementtractaswellasanycontiguouspropertiestowhichthetestoffamilystatusismet.Thetreasuryregulationsalsoprovideforthereductionintheamountofacontributionwhenaparcelownedbyafamilymemberorarelatedpartybenefitsfromthedonationoftheeasement:
IfthegrantingofaperpetualconservationrestrictionafterJanuary14,1986,hastheeffectofincreas-ingthevalueofanyotherpropertyownedbythedonororarelatedperson,theamountofthedeductionfortheconservationcontributionshallbereducedbytheamountoftheincreaseinthevalueoftheotherproperty,whetherornotsuchpropertyiscontiguous.
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LARGER PARCEL/ENT IRE CO NTIGUOUS PARCEL ANALYSIS FOR THE SUBJECT PROPERTY Theprimaryreasonforbothofthesemethodsistodetermineandcaptureanyenhancement(ordiminution)ofvaluetonon-constrainedlandsbyvirtueoftheeasementwhenclaimingeithercompensation(UASFLA)ordonationvalue(USPAP-IRS).Thesubjectpropertyandproposedareaareinthefollowingmap.
Theeasementareaisinyellowandcontains32.55acres.Thenon-easementareaofthesubjectparcelisshadedinred.Itcontainstworesidencesin4.25acres.Theadjacent36.8-acreparceltothewestispropertyoftheowner’ssisterandmeetstheentirecontiguousparcelrequirementfortheIRS.Therefore,byIRSguide-lines,theentirecontiguousparcelwouldincludethefollowingtaxmapnumbersandacreages:
Easement Area(32.55 acres)Easement Area(32.55 acres)
Excluded area(4.25 acres)Excluded area(4.25 acres)
Extra area due toentire contiguous parcel rules(36.8 acres)
Extra area due toentire contiguous parcel rules(36.8 acres)
Parcel ID Acres Owner290-00-04-080 2.481 Moore, Peggy E290-00-04-010 34.318 Moore, Peggy E290-00-04-029 36.8 Moore, Mahala J etal
73.599
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Whichwouldindicatea73.6-acreentirecontiguousparcelwith32.55acresbeingproposedforaconserva-tioneasement.Thisentire73.6-acreparcelisoutlinedinredonthemap.However,thepurposeoftheentirecontiguousparcelconceptistocaptureanyenhancement(increaseinvalue)ordiminution(decreaseinvalue)duetotheapplicationoftheconservationeasement.Thiscanonlybeproveddefinitivelybycomparablesalesanalysisofadjacentandnon-adjacentparcelstoeasement-con-strainedlands.Thisdataissometimesavailableinmoredevelopedareasbutisnotgenerallyavailableinru-ralareaslikethesubjectproperty.ThesubjectliesinaruralportionofOconeeCounty(Oakway)thatisbe-tweenFairPlay,Seneca,andWestminster,SCthathasseennoconcentrateddevelopmentandisprimarilycharacterizedbycattlefarmingandpoultryfarmingwithscatteredruralresidences.Theaerialphotographbelowencompassesapproximately16squaremilesaroundthesubjectpropertyandillustratestheruralna-tureofthearea.Over8poultryfarmsarevisibleinthephoto,withmostofthelandinlivestockandwood-landusagewithsmallpocketsofruralresidentialdevelopment.
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Ihavespokenwithrealtorsinthearea,andtherearenosubdivisionsormajordevelopmentsplannedforthearea(orlikely)intheforeseeablefuture.ThereareseveralfarmswithFRPPconservationeasementsinOconeeCounty(Ihavepersonallyappraisedover20),butIhaveseennoindicationthatpropertiesadjacenttotheseareassellforapremiumoverpropertiesnotadjacenttotheseareas.Therefore,inmyopinion,therewouldbenomeasurableenhancementtotheotherelementsoftheentirecontiguousparcel.Basedonthisdetermination,thepropertyasappraisedwouldbethe32.55-acreeasementareaonly.FINAL LEGAL DESCRIPT IO N Thereisnotyetaformalsurveyorlegaldescriptionofthesubjectproperty.Forthepurposesofthisap-praisal,thesubjectispropertyisdefinedbythefollowingtaxmapparcelsandacreagesandmap:
Subject Property(32.551 ac)Subject Property(32.551 ac)
ExcludedExcluded
Parcel ID Acres Owner290-00-04-080 2.481 Moore, Peggy E290-00-04-010 34.318 Moore, Peggy E
36.799Excluded area -4.248
Subject Property 32.551
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12.AREA, CITY, AND NEIGHBORHOOD DATA OCONEE COUNTY DEMO GRAPHICS3 Countypopulationin2016:76,355(35%urban,65%rural);itwas66,215in2000Countyowner-occupiedwithamortgageoraloanhousesandcondosin2010:12,633Countyowner-occupiedfreeandclearhousesandcondosin2010:10,409Countyowner-occupiedhousesandcondosin2000:21,380Renter-occupiedapartments:7,634(itwas5,903in2000)%ofrentershere: 22%State: 31%Landarea:625sq.mi.Waterarea:48.2sq.mi.Populationdensity:122peoplepersquaremile(average).Mar.2016costoflivingindexinOconeeCounty:82.7(low,U.S.averageis100)Industriesprovidingemployment:
Professional,scientific,management,administrative,andwastemanagementservices(31.7%),Educational,healthandsocialservices(13.6%).
Typeofworkers:
Privatewageorsalary:63%Government:3%Self-employed,notincorporated:32%Unpaidfamilywork:1%
RacesinOconeeCounty,SouthCarolina:
WhiteNon-HispanicAlone(84.9%)BlackNon-HispanicAlone(7.2%)HispanicorLatino(5.0%)Twoormoreraces(1.9%)Asianalone(0.7%)
Estimatedmedianhouseholdincomein2016:Thiscounty: $43,743SouthCarolina: $49,501Mediancontractrentin2016forapartments:$483(lowerquartileis$385,upperquartileis$719)Thiscounty: $483State: $653Estimatedmedianhouseorcondovaluein2016:$152,200(itwas$79,700in2000)Oconee:$152,200SouthCarolina: $153,900Percentageofresidentslivinginpovertyin2016:
3U.S.CensusBureau.
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OconeeCounty: 15.5%SouthCarolina: 15.3%(13.9%forWhiteNon-Hispanicresidents,16.8%forBlackresidents,35.7%forHispanicorLatinoresidents,39.7%forotherraceresidents,27.8%fortwoormoreracesresidents)Housingunitsinstructures:
One,detached:26,641One,attached:767Two:6353or4:1,3045to9:68710to19:1,02520ormore:328Mobilehomes:8,037
Numberofgrocerystores:13OconeeCounty: 1.84/10,000pop.State: 1.99/10,000pop.Numberofsupercentersandclubstores:1Here: 0.14/10,000pop.SouthCarolina: 0.15/10,000pop.Numberofconveniencestores(withgas):31OconeeCounty: 4.39/10,000pop.SouthCarolina: 5.38/10,000pop.Numberoffull-servicerestaurants:46Thiscounty: 6.51/10,000pop.State: 7.75/10,000pop.Adultdiabetesrate:OconeeCounty: 11.1%SouthCarolina: 10.6%Adultobesityrate:OconeeCounty: 28.6%State: 29.4%Low-incomepreschoolobesityrate:Here: 16.7%State: 13.4%AgricultureinOconeeCounty:Averagesizeoffarms:89acres
Averagevalueofagriculturalproductssoldperfarm:$64,234Averagetotalfarmproductionexpensesperfarm:$48,827Harvestedcroplandasapercentageoflandinfarms:21.92%
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Irrigatedharvestedcroplandasapercentageoflandinfarms:2.91%Averagemarketvalueofallmachineryandequipmentperfarm:$28,820Thepercentageoffarmsoperatedbyafamilyorindividual:96.01%Averageageofprincipalfarmoperators:54yearsAveragenumberofcattleandcalvesper100acresofalllandinfarms:25.31Milkcowsasapercentageofallcattleandcalves:1.55%Cornforgrain:410harvestedacresAllwheatforgrain:894harvestedacresUplandcotton:49harvestedacresSoybeansforbeans:1055harvestedacresVegetables:96harvestedacresLandinorchards:1,300acres
LOCAL MARKET CO NDIT IONS
UN C ON S TR A I N E D AG R I C U L TU R A L SA L E S
Thesubjectisprimarilyactivepasture.TheAugust2017USDAannualfarmlandsurvey4indicatesthatpas-turepricesinSChaveremainedrelativelyunchangedsince2014:
PasturevaluesinOconeeCountytendtobesomewhathigherthanthestatewideaveragevalues;therefore,IusedsalesfromOconeeCountyandnearbyportionsofAndersonCountythatoccurredin2014orlateranddidnotadjustthemfortime.
CON S TR A I N E D S A L E S
Aftertheeasementhasbeenapplied,differentmarketforcesareatplay.Withtheeasementinplace,thesub-jectbecomesanagriculturalpropertywithnopotentialformovingtoahigherandbetteruse.AsFRPP-encumberedpropertiestendtobefamilyfarms,therehavebeenveryfewsalesofFRPP-constrainedproper-tiesinthepastfouryears.Recreationalbuyershaveallbutdisappearedaslendingforthistypeofusehasbeencurtaileddramatically.Mosteasementsalestendtobewoodlandusedforrecreation(huntingandfish-ing)andIwasforcedtousesalesofsomeeasement-encumberedlandthatwasnotfarmland.Considerableappraisaljudgmentwasrequiredtoadjustthesesales;however,themajorityoftheeasementsaleswereei-therFRPPsalesorsaleswithagriculturaluseeasementsverysimilartoFRPPeasements.
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13. PROPERTY DATA SITE
LOC A TI ON A N D S I Z E
ThesubjectislocatedinsouthernOconeeCounty,SCintheOakwayareaonthenorthwestsideoftheinter-sectionofSnowCreekroadandSC24(WestOakHighway)andcontains32.55acres,allofwhichwillbesub-jecttotheconservationeasement.
SOI L S A N D TOP OG R A P H Y
Thesitehasanirregularshape,buttheshapedoesnotaffecttheutilityofthelandsignificantly.Thetopogra-phyconsistsprimarilyofundulatingtoslightlyrollingpasturewithasmallareaofwoodlandinthenorthernpropertycorner.
FIGURE1.SOILSMAPThesoilsareprimarilyLloydsandyloamfrom2%to25%slopes.Lloydsandyloamcanbefoundonawidevarietyofslopes.Theseverityofslopesgenerallydetermineslanduse.Itisawell-drainedsoilwithloamyandclayeysubsoils.Itissuitableforcropsinitsmostlevelstate.Permeabilityismoderateormoderatelyslowanderosionhazardissevere.Itissuitedforhardwoodsandpines.Mechanicalreforestationandhar-vestingoperationsarenotrestrictedexceptduringwetperiods.Whenslopesexceed15%,loggingroadsshouldbeoncontourandincorporatewaterdiversionstopreventerosion.AfullsoilsmapandlandusehistoryareintheAddendum.
UTI L I T I E S
Electricalserviceandtelephoneareavailable.
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LA N D US E A N D B R E A K D O W N
Thesubjectpropertyisprimarilyinpasture.Thelandusebreakdownfollows:
FOR E S T PR OD U C TS
Theonlytimberconsistsofasmallareainthenorthernportionofthetractwithnomerchantableorpre-mer-chantablevolumestoconsider.
M I N E R A L R I G H TS A N D SU R F A C E WA TE R S
Mineralrightsandsurfacewaterrights(includingirrigationwaterrights)arenoteconomicconsiderationsinthisareaandwerenotconsideredintheappraisalprocess.IMPROVEMENT S
B U I L D I N G I M P R OV E M E N TS
Thesubjectisunimproved
LA N D I M P R OV E M E N TS
Theonlylandimprovementsarepasturefencing,whichisnotconsideredseparatefromthelandinpasturetracts.Thereisalsoawatersupplywell,butastheapplicationoftheeasementhasnoeffectonvalue,Ididnotconsiderthecontributoryvalueofthewellinthecalculations.FIXTURES Therearenofixturestobeconsidered.USE HISTORY Thepropertyhasbeeninfarm(pasture)useformanyyears.SALES HISTORY Therehavebeennosalestransactionsofthesubjectpropertyinthepreviousfiveyears.RENTAL HIST ORY Thepropertyisnotbeingleased.ASSESSED VALUE AND ANNUAL TAX LOAD TheOconeeCountyAssessor’staxinformationdataforthesubjectparcelsmayisintheAddendum.
Land Type AcresCroplandPasture/open 30.1Upland woodland 2.5Low woodland/wetlandBuilding sitesPonds
32.55
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ZONING AND OT HER LAND USE REGULATIONS Thecountyisdividedintobasezoningdistrictsthatdefinetheirownzoningboundaries.Thesubjectprop-ertyliesintheOakwayDistrictbutisinaControlFreeDistrict(unzoned)untilzoningisrequestedbylocalcitizens.
H A Z A R D S A N D D E TR I M E N TS
Environmentalconsultingwasnotpartofthescopeofthisappraisal,andIdidnotinvestigatetheexistenceofenvironmentalhazardsonthesubjectorsurroundingproperties.WhileIobservednothingonthesubjectthatwouldleadmetosuspectahazardouscondition,non-disclosureshouldnotbetakenasanindicationthatsuchaproblemdoesnotexist.Anexpertinthefieldshouldbeconsultedifanyinterestedpartyhasquestionsonenvironmentalfactors.
E A S E M E N TS
Iwasnotabletoreviewthedeed.Theplatindicatednointernalorexternaleasements.AcopyoftheplatisintheAddendum.
WE TL A N D S
NoportionofthepropertyappearsontheNationalWetlandsInventory(NWI)orhassoiltypestypicallyin-dicativeofwetlandareas.
FL O OD Z ON E
ThesubjectliesonFEMAFIRMPanel45073C041C9/11/2009.Noportionofthesubjectpropertyappearsinthe100-yearfloodzone.
E N C U M B R A N C E S
SinceIamnotqualifiedtorendertitleopinions,Icannotidentifyanyandallencumbrancesthatmaybeaf-fixedtothisproperty.Icanonlydealwiththemifsuchevidence,knowledge,orinformationisprovided.Iknowofnoencumbrancesoreasementsintheasiscondition.
PART III–DATA ANALYSIS AND CONCLUSIONS–BEFORE EASEMENT 14. HIGHEST AND BEST USE Highestandbestuseisthatusewhichresultsinthemostefficientand/orprofitableuse.Itmustpassthefourtests:
CRITERIAFORHIGHESTANDBESTUSE
LegallyPermissiblePhysicallyPossibleFinanciallyFeasibleMaximallyProductive
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LEGALLY PERMISSIBLE Afirstconsiderationincontemplatingpotentialuseiswhethertheuseislegal.Thefirstlegalconsiderationistypicallyzoning.ThesubjectliesinanunzonedareaoftheCounty.NoportionofthepropertyliesintheFEMAfloodzoneandnoportionofthepropertyisinpotentialwetlandareas.PHYSICALLY POSSIBLE Therearenomajorphysicallimitationsbeyondsizeandshape.Therearesomeslightlimitationsduetoslopeinsomeareas.FINANCIALLY FEASIBLE/MOST PRO DUCTIVE Thesubjectliesinaruralareawheremuchofthelandinthemarketareaisinagriculturalproduction(cattleandpoultry).Theareaisgenerallytoohillyforrowcropping.Subdivisionanddevelopmentarenotcur-rentlyfeasibleinthesubjectmarket.Thetractistooremoteformostnon-agriculturalcommercialuses.HIGHEST AND BEST USE Inmyopinion,maximallyproductiveandthereforethehighestandbestuseofthesubjectpropertywouldbethecurrentuse—agricultural(pasture).Itwouldalsobeasuitableruralhomesiteorhobbyfarm.
15. LAND VALUATION Thesubjectisapasturetractlocatedinaruralareasurroundedbysimilaragriculturaltractswithscatteredruralhomesites.Adetaileddiscussionofthelandfollowsinthesalescomparisonapproach.
16. VALUE ESTIMATE BY COST APPROACH Thecostapproachwasnotusedsincethepropertyisunimproved.
17. VALUE ESTIMATE BY SALES COMPARISON APPROACH SELECT ION AND ANALY SIS O F CO MPARABLE SALES IsearchedforcomparablesalesofagriculturaltractsinOconeeCountyforcomparisontothesubjectproper-ties.Allagriculturalsalesoccurredwithintheprevious38months,inthetimeperiodthatUSDAagriculturalstatisticsindicatethatpasturepricesinSCsawverylittlechange(since20145);therefore,therewasnorea-sontoadjustpricesfortime.Thetablebelowisabriefsummaryofthesales.FullsalesinformationsheetsmaybefoundintheAddendum.
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STATIST ICAL ANALYSIS O F SALES TO PRODUCE COMPONENT LAND VALUES Todeterminethedifferentialcontributoryvaluesofthelandcomponents(aftertimbervalueandanyim-provementsvalueshavebeenextractedfromthecomparablesales)Iusedastatisticalversionofthepairedsalescomparisontechnique.Inthisstatisticalmethod,Ianalyzedthecomparablesalepropertiesanddevel-opedanoverallstandarddeviation.Ithenadjustedtherelativevaluesofthelandcomponentsuntiltheover-allstandarddeviationwasminimized.Thisbecomes,ineffect,astatisticalanalysisofthemarketsamplewithmathematicallyadjustedcomponentlandpricesthatreflectthestatistical,differentialvaluespaidforlandcategorytypesinthemarketplace—i.e.statisticalversionofpairedsalesanalysisformarketpricesforlandcomponents.Thestatisticalanalysisofthecomparablesalesappearsbelow.DetailedcomparablesalessheetsareintheAddendum.
Sale County Sale Date Sale Price Acres$/Acre (gross)
Est. Improv.
Value
Est. Timber value
$/Bare Land Acre
Pasture/ Open acres
Woodland/ Other Acres
1 Oconee 5-Feb-18 $240,000 48 $5,030 $0 $0 $5,030 44 472 Oconee 25-Feb-16 $140,000 38 $3,647 $0 $0 $3,647 16 383 Oconee 14-Jul-15 $127,500 30 $4,250 $0 $0 $4,250 27 304 Oconee 6-Apr-15 $191,500 48 $4,000 $0 $19,200 $3,599 16 485 Oconee 7-Jun-17 $199,500 49 $4,071 $0 $0 $4,071 21 496 Oconee 12-May-15 $140,000 40 $3,493 $0 $8,100 $3,291 18 407 Oconee 20-May-15 $68,000 20 $3,345 $0 $0 $3,345 11 208 Oconee 1-Nov-17 $252,100 68 $3,733 $0 $0 $3,733 28 68
Sale I II III IV V VIOverall
per acre Land Value
Subjective adj. from sales grid I II III IV V VI
1 Powell, Amanda $5,182 $5,182 $3,369 $2,591 $5,182 $6,219 $5,030 $240,000 0% 0.0 44.2 0.0 3.0 0.0 0.52 Burton, Phillip A $4,589 $4,589 $2,983 $2,294 $4,589 $5,507 $3,647 $140,000 0% 0.0 16.3 21.1 1.0 0.0 0.03 Gambrell, Elijah $4,431 $4,431 $2,880 $2,215 $4,431 $5,317 $4,250 $127,500 0% 0.0 26.5 3.5 0.0 0.0 0.04 Grant, Michael and Jimmy $4,692 $4,692 $3,050 $2,346 $4,692 $5,630 $3,599 $172,300 0% 0.0 16.0 31.9 0.0 0.0 0.05 Hestir, William, etal. $5,112 $5,112 $3,323 $2,556 $5,112 $6,135 $4,071 $199,500 0% 0.0 20.5 28.5 0.0 0.0 0.06 Stovall, Lindsay D $4,485 $4,485 $2,915 $2,242 $4,485 $5,382 $3,291 $145,090 10% 0.0 18.0 22.1 0.0 0.0 0.07 Wilbanks, Phillip L $3,952 $3,952 $2,569 $1,976 $3,952 $4,743 $3,345 $68,000 0% 0.0 11.4 8.9 0.0 0.0 0.08 Hubbard, David G $4,688 $4,688 $3,047 $2,344 $4,688 $5,626 $3,733 $252,100 0% 0.0 28.2 39.3 0.0 0.0 0.0
Mean: $4,641 $4,641 $3,017 $2,321 $4,641 $5,570 $3,871 0 181 155 4 0 1% STD: 8.4% 8.4% 8.4% 8.4% 8.4% 8.4% 14.8%
Relative Value: 100% 100% 65% 50% 100% 120%
I CroplandII Pasture/openIII UplandwoodlandIV Lowwoodland/wetlandV BuildingsitesVI Ponds
LandTypeCategoryDefinitions
Acres by Category in SaleWeighted Land Type Category Value
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Thesedataindicatethatwhenthebarelandpricesofallsalesarenotbrokendownintocomponentlandcate-gories,thestandarddeviationoftheaverageoverallpriceperacreis14.8%ofthemean.Whenthelandofeachcomparablesaleisbrokendownintocropland,generalopenland,uplandwoodland,lowlandwoodland,buildingsites,andpondsandtherelativevaluesareadjustedasshowninthetable,theoverallstandarddevi-ationofthesamplereducesto8.4%,indicatingthattherelativecomponentvalueshavestatisticalsignificanceacrossthesampleofthesalesshown.SALES GRID
QU A N TI TA TI V E AD J U S TM E N T M E TH OD OL OG Y
Tomakeappropriatecomparisons,Iconsideredthefollowingfromeachlandsale:propertyrightsconveyed,financingterms,conditionofsale,marketconditions,landqualityanduse,landimprovements,buildingim-provements,andtimber.
AnalysisandComparisionofSalesSale SUBJECT Sale1 Sale2 Sale3 Sale4 Sale5 Sale6 Sale7 Sale8
BuyerPowell,Amanda
Burton,PhillipA
Gambrell,Elijah
Grant,MichaelandJimmy
Hestir,William,etal.
Stovall,LindsayD
Wilbanks,PhillipL
Hubbard,DavidG
SellerPowell,James,
etal.Wilson,Emily
BTreadaway,Michael
Mize,JuanitaL
Ridgeway,LynnMetal. Lyles,BettyH
Bennett,BillyG
England,BMJr.(estate)
County Oconee Oconee Oconee Oconee Oconee Oconee Oconee OconeeSaleDate 2/5/2018 2/25/2016 7/14/2015 4/6/2015 6/7/2017 5/12/2015 5/20/2015 11/1/2017Price $240,000 $140,000 $127,500 $191,500 $199,500 $140,000 $68,000 $252,100LandAcres 32.55 47.71 38.39 30 47.88 49 40.08 20.33 67.54Est.TimberContribution* $0 $0 $0 $0 $19,200 $0 $8,100 $0 $0Est.Impr.Contribution $0 $0 $0 $0 $0 $0 $0 $0 $0Leases,contracts $0 $0 $0 $0 $0 $0 $0 $0 $0Est.Barelandvalue $240,000 $140,000 $127,500 $172,300 $199,500 $131,900 $68,000 $252,100Est.Barelandvalue/acre $5,030 $3,647 $4,250 $3,599 $4,071 $3,291 $3,345 $3,733
Cropland Pasture/open 30.05 44.2 16.3 26.5 16.0 20.5 18.0 11.4 28.2Uplandwoodland 2.5 21.1 3.5 31.9 28.5 22.1 8.9 39.3Lowwoodland/wetland 3.0 1.0 Buildingsites Ponds 0.5
Grosspriceperacre $5,030 $3,647 $4,250 $4,000 $4,071 $3,493 $3,345 $3,733LandQuality/use $13 $819 $62 $967 $903 $677 $501 $830TimberAdjustment $0 $0 $0 -$401 $0 -$202 $0 $0Improvements $0 $0 $0 $0 $0 $0 $0 $0Leases/contracts $0 $0 $0 $0 $0 $0 $0 $0
Adjustedper-acrevalue: $5,043 $4,466 $4,312 $4,566 $4,975 $3,967 $3,846 $4,562
Time,conditionsofsaleLocation,access,frontage 10.0%SizeCondition,TopographyOther
Total%Adjustments: 0.0% 0.0% 0.0% 0.0% 0.0% 10.0% 0.0% 0.0%
IndicatedValue/acre $5,043 $4,466 $4,312 $4,566 $4,975 $4,364 $3,846 $4,562
MeanValueIndication: $4,517StandardDeviation: $380 8% ofthemean
MedianValue: $4,514Selectedper-acrevalue: $4,500
IndicatedValue: $146,475
SalesInformation
LandUse
Inform
ation
(acres)
Quantitative
Adjustments
($/acre)
Subjective
Adjustments
(%)
FinalAnalysis
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PR O P E R TY R I G H TS CO N V E Y E D
Allofthesalesconveyedfeesimpletitle;therefore,noadjustmentswererequired.
CO N D I TI O N O F S A L E
Allofthesaleswereconsideredtobearm’slength;therefore,noadjustmentswererequired.
M A R K E T CO N D I T I O N S (T I M E)
Basedonthemarketdatadiscussionearlierinthisreport,noadjustmentsfortimewereconsideredneces-sary.
LA N D QU A L I TY A N D US E
Saleswereadjustedforlandqualityandusebasedonthedifferentialvaluesofcropland,openland,uplandwoodland,lowlandwoodland,andpondsdeterminedviathestatisticalanalysisdiscussedearlier.
LA N D I M P R O V E M E N TS
Iestimatedthecontributoryvalueofanylandimprovementsandextractedthevaluefromeachsaleproperty.Thecontributoryvalueofthesubjectlandimprovementswasbasedonthecost-depreciationanalysisshownpreviously.
B U I L D I N G I M P R O V E M E N TS
Theestimatedimprovementvaluesonthesalepropertieswerebasedonacursoryexteriorinspectionandtaxassessordataonly.Quantitativeadjustmentswerethenconvertedtoaper-acrebasisandextracted.
TI M B E R
Timbervalueswereextractedfromthecomparablesalesbyusingtheestimatedtimbervalueeitherobtainedfromaforesterinvolvedinthesaleorbasedonvisualinspectionandanalysisofinfraredandcoloraerialphotography.Thecontributorytimbervalueforthesubjectisbasedonqualitativeanalysisofthecompara-blesalesonlyandisnotmeanttobeastumpageorseparatetimbervalue.Adjustmentsweremadeonaper-acrebasisinthesalesgrids.
SU B J E C TI V E AD J U S TM E N T M E TH OD OL OG Y
Sale6wasadjustedupward10%foritsmoreremotelocation.Noadditionalsubjectiveadjustmentswererequired.CONCLUSION Afteradjustments,themeanpriceonaper-acrebasiswas$4,517andthemedianvaluewas$4,514.Thestandarddeviationwas$380peracre,or8%ofthemean.Basedonthisanalysis,Iselectedavalueof$4,500peracreforanindicatedvalueof$146,475,roundedto$146,000.
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LOCATION MAP O F SUBJECT AND SALE PROPERTIES
FIGURE2.SUBJECTISBLUEWITHTHEBLUEMARKER
18. VALUE ESTIMATE BY THE INCOME CAPITALIZATION APPROACH Asthepropertywouldnotlikelybepurchasedpurelyforincomeproduction,theincomeapproachwasnotused.
19. CORRELATI ON AND FINAL VALUE ESTIMATE (BEFORE EASEMENT) Thesalescomparisonapproachwastheonlyviableapproachtovaluation;therefore,thefinalvalueestimatebeforetheapplicationoftheeasementisthesalescomparisonapproachestimateof:
OneHundredForty-SixThousandDollars
($146,000).
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PART IV–FACTUAL DATA–AFTER EASEMENT 20. LEGAL DESCRIPTION Thelegaldescriptionofthewholepropertywillnotchangeaftereasementwiththeexceptionoftheease-mentrestrictions.THE FARM AND RANCH LAND PRO TECTION PROGRAM (FRPP) CONSERVATION EASEMENT TheFarmandRanchLandProtectionProgram(FRPP)wasestablishedunder7CFRPart1491andprovidesmatchingfundstohelppurchasedevelopmentrightstokeepproductivefarmandranchlandinagriculturaluses.Workingthroughexistingprograms,USDApartnerswithState,tribal,orlocalgovernmentsandnon-governmentalorganizationstoacquireconservationeasementsorotherinterestsinlandfromlandowners.USDAprovidesupto50percentofthefairmarketeasementvalueoftheconservationeasement.Toqualify,farmlandmustbe,orhave:
• PartofapendingofferfromaState,tribe,orlocalfarmlandprotectionprogram• Beprivatelyowned;• Aconservationplanforhighlyerodibleland• Largeenoughtosustainagriculturalproduction• Accessibletomarketsforwhatthelandproduces• Adequateinfrastructureandagriculturalsupportservices• Surroundingparcelsoflandthatcansupportlong-termagriculturalproduction
KEY RESTRICT IONS O F T HE CO NSERVATION EASEMENT Accordingto7CFR1491.22(c):
Theeligibleentitymayuseitsowntermsandconditionsintheconservationeasementdeed,butthecon-servationeasementdeedmustbereviewedandapprovedbyNationalHeadquartersinadvanceofuse.
Atthetimeoftheappraisal,adrafteasementdocumentwasnotavailable.However,mydiscussionswiththeoriginatingadministrativeofficeoftheNRCSindicatesthatthekeyrestrictionsoftheeasementaffectingvalueoftheconstrainedlandare:
o Prohibitionofsubdivisiono Limitsonconstructionrights
Thelossoftheserightsandtheirimpactonvaluearediscussedinmoredetailinthepropertydataonthefol-lowingpages.
21. NEIGHBORHOOD FACTORS Allofthesurroundingpropertyisruralinnatureandisinuseasruralresidences,farmland,orwoodland.Theeasementwilllikelyhavelittletonoeffectonthissurroundingpropertyintheforeseeablefuture.
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22. PROPERTY DATA SITE ThephysicalsitedescriptionisidenticaltothatinSection13.Themajoreasementrestrictionsaffectingthesitearethelimitsonsubdivisionandconstruction.Theproposedeasementwouldrestricttheparcelfromsubdivisionwit:
2.4. Subdivision. The Protected Property may not be divided, partitioned, subdivided or conveyed except in its current configuration.
Themorespecificrightsheldbytheownerwithrespecttosubdivisionmaybefoundintheeasementdocu-mentintheAddendum.FOREST PRODUCT S Theeasementdocumentdoesnotsubstantiallyrestricttheowner’srightstothetimberexceptforthestreambuffersandbufferedareas.Theeasementlanguagestates:
3.10 Timber Resources. Grantor may selectively harvest timber resources from the Protected Property for personal or commercial use. Such selective harvest shall be conducted in a manner consistent with the purposes of this Conservation Easement that minimizes the impact on the Conservation Values of the Pro-tected Property, and in accordance with all other terms and conditions of this Conservation Easement. Grantor must obtain a timber management plan completed by a S.C. Registered Forester prior to any com-mercial harvesting of timber.
Thereisonlyasmallstandoftimberonthesubjectfarm.Ithasnomerchantablevalue.IMPROVEMENT S Theeasementwillpreventmostnewlandandbuildingimprovementsexceptfortheexceptionssummarizedbelow.
(a) Structures&Improvements–Structures,improvements,pavedroadsandotherimper-vioussurfaceslocatedontheProtectedProperty,includingthoseexistingonthedateofthisEasement,asindicatedintheBaselineDocumentationReport,shallnotexceed2percentofthetotalareaoftheProtectedProperty.Impervioussurfaceisdefinedasanymaterialwhichcoverslandandinhibitsthepercolationofwaterdirectlyintothesoil,including,butnotlimitedto,buildings,roofing,theareacov-eredbypermanentornonpermanentstructures,macadamandpavement,concrete,pavedandstonedriveways,roads,andparkingareas,includingproposedstructuresthatareeitherpermanentortem-porary.
Existingstructures,includingagriculturalstructuresandimprovements,mayberepaired,rea-
sonablyenlarged,andreplacedattheircurrentlocationswithinthe“FarmsteadArea,”asshownonEx-hibitB,withoutfurtherpermissionfromtheGrantee.Newbuildings,includingbarns,sheds,andotherstructuresandimprovementstobeusedprimarilyforagriculturalpurposes(includingtheprocessingorsaleoffarmproductspredominantlygrownorraisedontheProperty)maybebuiltonthePropertywithoutanyfurtherpermissionofGranteeprovidedtheyarelocatedinthe"FarmsteadArea."
Anynewagriculturalbuildings,structuresorimprovementsproposedforlocationsoutsidethe
"FarmsteadArea",exceptforfencesandsmallagriculturalstructurespermittedunderparagraph3be-low,maybebuiltonlywiththeadvancewrittenpermissionoftheGrantee.TheGranteeshallgivesuch
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permissionwithinareasonabletimeifitdeterminesthattheproposedbuilding,structure,orimprove-mentwouldnotdiminishorimpairtheConservationValuesoftheProtectedProperty,isnotreasonablylocatablewithintheexistingFarmsteadEnvelope,andisnototherwisebeinconsistentwiththisEase-ment.
(b) Single-FamilyResidentialDwellings–NoresidentialdwellingmaybebuiltonthePro-
tectedProperty.(c) RecreationalImprovements.Norecreationalimprovementsarepermitted.
ASSESSED VALUE AND TAX LO AD Theassessedvalueandtaxloadwouldlikelydecreaseinthepost-easementconditionduetotheapplicationoftheconservationeasement.RefertoSection13forthecurrentassessedvalueandtaxload.ZONING AND OT HER LAND USE REGULATIONS IanticipatenochangeinzoningfromthatdiscussedinSection13.
PART V–DATA ANALYSIS AND CONCLUSIONS–AFTER EASEMENT 23. ANALYSIS OF HIGHEST AND BEST USE Theownerdesirestoplaceaconservationeasementonthesubjectproperty.Themajorlimitationsoftheeasementarelanduserestrictions,prohibitionofsubdivision,andbuildingrestrictions.Thekeypointsoftheserestrictionswerediscussedearlier.LEGALLY PERMISSIBLE Theonlychangeinlegallypermissibleusefromthepre-easementconditionistheapplicationoftheeasementrestrictions.Themajorrestrictionshavebeendiscussedinthisreportandcanbeseenindetailinthedrafteasementdocument,whichisincludedbyreference.PHYSICALLY POSSIBLE Thephysicallimitationsdonotchangefromthepre-easementcondition.FINANCIALLY FEASIBLE/MOST PRO DUCTIVE Aftertheapplicationoftheeasement,thesubjectisbestdescribedasanagriculturaltractwithnopotentialtomovetoahigheruse.Subdivisionanddevelopmentarenotallowedunderthetermsoftheeasement.Inmyopinion,thehighestandbestuseofthelandsubjecttotheeasementislegallyconstrainedtoagricul-tural.
24. LAND VALUATION Detailsofthelandvaluationarediscussedinthefollowingsections.
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25. VALUE ESTIMATE BY THE COST APPROACH Notusedasexplainedearlier.
26. VALUE ESTIMATE BY THE SALES COMPARISON APPROACH SELECT ION OF CO MPARABLE SALES Ifoundsixeasement-constrainedsaleswithin150milesofthesubject.Ofthesixeasementsales,twowereencumberedwithFRPPeasementsidenticaltothatofthesubjectproperty,threewereencumberedwithsim-ilaragriculturaluseeasements,andtheremainingsalewasencumberedwithalessrestrictivelandtrusteasementsandwasadjustedaccordingly.
STATIST ICAL ANALYSIS O F SALES TO PRODUCE COMPONENT LAND VALUES Iusedthesamestatisticalmethodologytodeterminetherelativevaluesofthelandusecategoriesasinthemarketappraisal.
Thesedataindicatethatwhenthebarelandpricesofallsalesarenotbrokendownintocomponentlandcate-gories,thestandarddeviationoftheaverageoverallpriceperacreis28.7%ofthemean.Whenthelandofeachcomparablesaleisbrokendownintocropland,generalopenland,uplandwoodland,lowlandwoodland,buildingsites,andpondsandtherelativevaluesareadjustedasshowninthetable,theoverallstandarddevi-ationofthesamplereducesto27.7%,indicatingthattherelativecomponentvalueshaveslightstatisticalsig-nificanceacrossthesampleofthesalesshown.Thecorrelationwasnotasstrongasinthemarketsalesintheprevioussectionduetothemorevariedsampleofsalesandlocations.
Sale County SaleDate SalePrice Acres$/Acre(raw)
Est.Improv.Value
Est.Timbervalue
$/BareLandAcre
CroplandAcres
Pasture/Openacres
UplandWoodlandacres
Lowland/wetlandacres
E12 Horry 14-Apr-14 $64,500 36.12 $1,786 $0 $0 $1,786 20 0 0 16.12E13 Marion 22-Mar-12 $112,000 56.5 $1,982 $0 $0 $1,982 55.5 0 0 1E14 Sumter 14-Sep-12 $628,238 335.06 $1,875 $0 $159,250 $1,400 90 0 245.06 0E15 Georgetown 16-May-14 $1,300,000 367.75 $3,535 $462,500 $350,000 $1,326 24 10 277 48.75E16 Sumter 8-Jul-14 $2,700,000 898.2 $3,006 $288,611 $0 $2,685 773.4 9.1 36.7 76E17 Beaufort 10-Aug-16 $867,000 231 $3,753 $0 $288,750 $2,503 0 0 225 6
Sale I II III IV V VI Overall Land Value Sale Date I II III IV V VIE12 Henry B Lewis $2,515 $1,887 $1,887 $880 $0 $3,773 $1,786 $64,500 14-Apr-14 20.0 0.0 0.0 16.1 0.0 0.0E13 Terry W. Strickland $2,005 $1,504 $1,504 $702 $0 $3,008 $1,982 $112,000 22-Mar-12 55.5 0.0 0.0 1.0 0.0 0.0E14 Dale and Emmal Cannon $1,713 $1,285 $1,285 $600 $0 $2,569 $1,400 $468,988 14-Sep-12 90.0 0.0 245.1 0.0 0.0 0.0E15 Arthur K Cates $1,817 $1,363 $1,363 $636 $0 $2,725 $1,326 $487,500 16-May-14 24.0 10.0 277.0 48.8 0.0 8.0E16 FLO Fund Domestic, LLC $2,875 $2,156 $2,156 $1,006 $0 $4,312 $2,685 $2,411,389 08-Jul-14 773.4 9.1 36.7 76.0 0.0 3.0E17 Coosaw Land, LLC $3,385 $2,538 $2,538 $1,185 $0 $5,077 $2,503 $578,250 10-Aug-16 0.0 0.0 225.0 6.0 0.0 0.0
Mean: $2,385 $1,789 $1,789 $835 $0 $3,577 $1,947 190 10 522 66 0 8% STD: 27.7% 27.7% 27.7% 27.7% 27.7% 27.7% 28.7%
Relative Value: 100% 75% 75% 35% 0% 150%
I CroplandII Grassland/OpenIII Upland woodlandIV Lowland woodlandV Swamp/MarshVI Ponds
Land Type Category Definitions
Acres by Category in SaleWeighted Land Type Category Value
MooreFRPP
31
SALES GRID—AFT ER EASEMENT
QUANTITAT IVE ADJUST MENT S Quantitativeadjustmentsweremadeinthesamemannerasinthemarketappraisal.Thespecificsubjectiveadjustmentswerediscussedonthesalesgrid.SUBJECT IVE ADJUST MENT S SaleE12wasadjustedupwardformotivatedseller(banksale).SaleE13wasadjustedupwardforitsinferiorlocationinMarionCounty.SaleE14wasadjustedupwardforitsinferiorlocationandupward25%forits
Analysis and Comparision of Easement Land SalesSale Subject E12 E13 E14 E15 E16 E17
Buyer Henry B LewisTerry W.
StricklandDale and Emmal
Cannon Arthur K CatesFLO Fund
Domestic, LLCCoosaw Land,
LLC
SellerHorry County
State BankTolmand and
Sandra Lennon Howle Q1 LLCEdward W
HicksonCameron Simpson
Lands End Plantation
Holding Corp.
County Horry Marion Sumter Georgetown Sumter BeaufortSale Date 4/14/2014 3/22/2012 9/14/2012 5/16/2014 7/8/2014 8/10/2016Price $64,500 $112,000 $628,238 $1,300,000 $2,700,000 $867,000
Type of Easement Ag use FRPP (Ag use) Ag use Ag use FRPP (Ag use) Land TrustLand Acres 32.55 36.12 56.5 335.06 367.75 898.2 231Timber Contribution* $0 $0 $0 $159,250 $350,000 $0 $288,750Improvements Contribution $0 $0 $0 $0 $462,500 $288,611 $0Land-only Contribution $64,500 $112,000 $468,988 $487,500 $2,411,389 $578,250
Cropland 0 20.0 55.5 90.0 24.0 773.4 Grassland/Open 30.05 10.0 9.1 Upland woodland 2.5 245.1 277.0 36.7 225.0Lowland woodland 0 16.1 1.0 48.8 76.0 6.0Swamp/Marsh 0 Ponds 0 8.0 3.0
Gross price per acre $1,786 $1,982 $1,875 $3,535 $3,006 $3,753
Quantitative AdjustmentsTimber Adjustment $0 $0 -$475 -$952 $0 -$1,250Land Quality/use adjustment: $101 -$478 -$115 $37 -$529 $35Improvements adjustement $0 $0 $0 -$1,258 -$321 $0
Adjusted value/acre: $1,887 $1,504 $1,285 $1,363 $2,156 $2,538
Subjective (%) AdjustmentsTime, conditions of sale 10.0% -10.0%Location, access, frontage 20.0% 20.0% 10.0% -10.0%Size 25.0% 25.0% 20.0%Condition, Topography, floodEasement restrictionsAmenities, river frontage -15.0%
Total % Adjustments: 10.0% 20.0% 45.0% 35.0% -10.0% -5.0%Indicated Subject Land Value $2,065 $1,900 $1,915 $1,827 $1,888 $2,413
Subject Acreage: 32.55Mean Value Indication: $2,001
Standard Deviation: $217 11%Median Value: $1,908
Selected per-acre land value: $2,000
Estimated value of constrained subject land: $65,100
Sale
Info
rmat
ion
Adju
stm
ents
Conc
lusi
ons
32
muchlargersize.SaleE15wasadjustedupward10%foritsinferiorlocationand25%foritsmuchlargersize.SaleE16wasadjusteddownward10%foramotivatedbuyerthatisknownforpayingpremiumpricesforcropland.Thesalewasnotadjustedforsize,ascommercialcroplandtractstendtobebasedmorepurelyonpriceperacrewithlittleregardforsize.SaleE17wasadjusteddownward10%foritssuperiorislandlo-cationinBeaufortCounty,upward20%foritsmuchlargersize,anddownward15%foritssuperiormarshfrontageamenity.
27. VALUE ESTIMATE BY INCOME CAPITALIZATION APPROACH Theincomeapproachwasnotused.
28. CORRELATI ON AND FINAL VALUE ESTIMATE (AFTER EASEMENT) Asthesalescomparisonapproachwastheonlyviableapproachtovalue,itismyopinionthatthevalueaftertheeasementisthesalescomparisonapproachestimateof$56,963roundedto:
Sixty-FiveThousandDollars($65,000).
PART VII–EASEMENT ANALYSIS 29. RECAPITULATION SUMMARY Thevalueofthepropertyappraisedbeforetheeasementwasestimatedtobe$146,000.Thehypotheticalvalueforthesubjectlandaftertheeasementisestimatedtobe$65,000. ValueBefore: $146,000 ValueAfter: $65,000 Difference(easementvalue): $81,000 EXPOSURE AND MARKET ING TIME EST IMATES ExposureTimeisdefinedas:
"Theestimatedlengthoftimethepropertyinterestbeingappraisedwouldhavebeenofferedonthemarketpriortothehypotheticalconsummationofasaleatmarketvalueontheeffectivedateoftheappraisal;aretrospectiveestimatebaseduponananalysisofpasteventsassumingacompetitiveandopenmarket.”6
Paramounttotheestimateofexposuretimeisthepresumptiontohaveoccurredpriortothevaluationdate.Indetermininganexposuretime,theappraisermayutilizestatisticalinformationofcomparablesalesto
6StatementonAppraisalStandardsNo.6,"ReasonableExposureTimeinMarketValueEstimates"
MooreFRPP
33
concludethenumberofdaysonthemarketorobtainanestimatefromactiveparticipantsorbrokersinthemarketplace.MarketingPeriodisdefinedas:
"Anestimateoftheamountoftimeitmighttaketosellaninterestinrealpropertyatitsestimatedmar-ketvalueduringtheperiodimmediatelyaftertheeffectivedateoftheappraisal;theanticipatedtimerequiredtoexposethepropertytoapoolofprospectivetimefornegotiation,theexerciseofduedili-gence,andtheconsummationofasalepricesupportablebyconcurrentmarketconditions.Marketingtimediffersfromexposuretime,whichisalwayspresumedtoprecedetheeffectivedateoftheap-praisal.7
Paramounttotheestimateofmarketingperiodisthepresumptiontohaveoccurredafterthevaluationdate.Indeterminingamarketingperiod,theappraisermayutilizestatisticalinformationofcomparablesalestoconcludethenumberofdaysonthemarketorobtainanestimatefromactiveparticipantsorbrokersinthemarketplace.Inthecaseofthesubjectpropertyexposuretimeandmarketingperiodareconsideredtobeequal.Itismyopinionthattheexposureperiodandmarketingtimeofthesubjectpropertyis12months.
30. ALLOCATION AND EXPLANATION OF DAMAGES None.
31. EXPLANATION OF SPECIAL BENEFITS SeethediscussiononPages33-35.
7AdvisoryOpinionG-7oftheAppraisalStandardsBoardofTheAppraisalFoundationandStatement
onAppraisalStandardsNo.6,"ReasonableExposureTimeinMarketValueEstimates"addressthedetermina-tionofreasonableexposureandmarketingtime.
34
PART VII–EXHIBITS AND ADDENDA 32. LOCATION MAPS REGIONAL MAP
FIGURE3.SUBJECTISINDARKBLUE
MooreFRPP
35
33. COMPARABLE DATA MAPS ComparablesalesdatamapsmaybefoundinSection17andSection26.
34. DETAIL OF COMPARATIVE SALES DA TA Sales1through8wereusedforthebeforetheeasementanalysis.SalesE12throughE17wereusedintheaftertheeasementanalysis.
Buyer: Powell, Amanda County: OconeeSeller: Powell, James, etal. Sale Date: 5-Feb-18
Purchase Price: $240,000 Deed Ref: 2333-326Acres: 47.71 Zoning: none
Tax Map: 3100-00-01-001 Gross price/ac: $5,030Location: 4.8 miles north of Fair Play, SC Land price/ac: $5,030
Short Description: Pasture tract
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale 1
A family member purchased the parcel from a family trust at market rates.
$0
Est. Value
$0
100% $5,182 $044.21 100% $5,182 $229,117
65% $3,369 $03 50% $2,591 $7,774
100% $5,182 $00.5 120% $6,219 $3,109
Total: 47.71 $240,000
From Description: 47.71
IDRadius
(ft) Arc (deg.) Acres $/ac
Total contrib. value
$0$0$0
0 $0
Center Pivot Irrigation Calculations
Sale 1 Detail
Timber Detail
Building Improvements Detail
Land Improvements Detail
Eff. AgeRem. Eco.
Life % good DRCNRCNCond.AreaDescription
Land Component Detail
Description of Land Improvements
Tot. land componentLand Type
Value per acre
CroplandPasture/openUpland woodlandLow woodland/wetlandBuilding sitesPonds
Rel. ValueComponent Acres
Sales Price: $240,000
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: $0
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $5,182 $0Pasture/open 30.1 44.2 -14.2 $5,182 -$73,384Upland woodland 2.5 0.0 2.5 $3,369 $8,422Low woodland/wetland 0.0 3.0 -3.0 $2,591 -$7,774Building sites 0.0 0.0 0.0 $5,182 $0Ponds 0.0 0.5 -0.5 $6,219 -$3,109
32.6 47.7 -15.2 Total: -$75,845
Subtotal after quantitative adjustments: $164,155
Subjective AdjustmentsAdj. to
subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $164,155
Sale 1 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.
Buyer: Burton, Phillip A County: OconeeSeller: Wilson, Emily B Sale Date: 25-Feb-16
Purchase Price: $140,000 Deed Ref: 2164-114Acres: 38.39 Zoning: none
Tax Map: 235-00-02-076 Gross price/ac: $3,647Location: 1.6 miles NE of Westiminster Land price/ac: $3,647
Short Description: Pasture and cutover woodland
Timber Value: $0Leases, contracts: $0
Est. Impr. Value: $0
Sale 2
$0
Est. Value
$0
100% $4,589 $016.3 100% $4,589 $74,799
21.09 65% $2,983 $62,9071 50% $2,294 $2,294
100% $4,589 $0120% $5,507 $0
Total: 38.39 $140,000
From Description: 38.39
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
Tot. land component
CroplandAcres
Upland woodlandPasture/open
Low woodland/wetland
Rel. ValueValue per
acre
Land Improvements DetailDescription of Land Improvements
Sale 2 Detail
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good DRCN
Center Pivot Irrigation Calculations
Timber Detail
Land Component Detail
Land Type Component
Building sitesPonds
Sales Price: $140,000
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: $0
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $4,589 $0Pasture/open 30.1 16.3 13.8 $4,589 $63,097Upland woodland 2.5 21.1 -18.6 $2,983 -$55,450Low woodland/wetland 0.0 1.0 -1.0 $2,294 -$2,294Building sites 0.0 0.0 0.0 $4,589 $0Ponds 0.0 0.0 0.0 $5,507 $0
32.6 38.4 -5.8 Total: $5,353
Subtotal after quantitative adjustments: $145,353
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $145,353
Sale 2 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.
See the sales grid for explanation of subjective adjustments.
Buyer: Gambrell, Elijah County: OconeeSeller: Treadaway, Michael Sale Date: 14-Jul-15
Purchase Price: $127,500 Deed Ref: 2117-19Acres: 30 Zoning:
Tax Map: 301-00-03-007 Gross price/ac: $4,250Location: 5.5 miles NNE of Fair Play, SC Land price/ac: $4,250
Short Description: Pasture tract
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale 3
$0
Est. Value
$0
100% $4,431 $026.5 100% $4,431 $117,420
3.5 65% $2,880 $10,08050% $2,215 $0
100% $4,431 $0120% $5,317 $0
Total: 30 $127,500
From Description: 30
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
CroplandPasture/openUpland woodland
Sale 3 (cont.)
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good
Low woodland/wetlandBuilding sites
Timber Detail
Land Component Detail
Land Type Component Acres Rel. ValueValue per
acreTot. land
component
DRCN
Land Improvements Detail
Center Pivot Irrigation Calculations
Description of Land Improvements
Ponds
Sales Price: $127,500
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: $0
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $4,431 $0Pasture/open 30.1 26.5 3.6 $4,431 $15,730Upland woodland 2.5 3.5 -1.0 $2,880 -$2,880Low woodland/wetland 0.0 0.0 0.0 $2,215 $0Building sites 0.0 0.0 0.0 $4,431 $0Ponds 0.0 0.0 0.0 $5,317 $0
32.6 30.0 2.6 Total: $12,850
Subtotal after quantitative adjustments: $140,350
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $140,350
% diff from subject:
Sale 3 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.
Buyer: Grant, Michael and Jimmy County: OconeeSeller: Mize, Juanita L Sale Date: 6-Apr-15
Purchase Price: $191,500 Deed Ref: 2096-214Acres: 47.88 Zoning: none
Tax Map: 301-00-04-009 Gross price/ac: $4,000Location: 4.9 miles north of Fair Play, SC Land price/ac: $3,599
Short Description: Pasture and woodland
Timber Value: $19,200Leases, contracts: None
Est. Impr. Value: $0
Sale 4
$0
Est. Value
$0
$19,200
100% $4,692 $016 100% $4,692 $75,072
31.88 65% $3,050 $97,22850% $2,346 $0
100% $4,692 $0120% $5,630 $0
Total: 47.88 $172,300
From Description: 47.88
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
Sale 4 Detail
Land Improvements DetailDescription of Land Improvementsnone
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good DRCN
Pasture/open
Land Type Component
Timber Detail
Natural hardwood timber
Land Component DetailTot. land
componentAcres Rel. ValueValue per
acre
Center Pivot Irrigation Calculations
Ponds
Upland woodlandLow woodland/wetlandBuilding sites
Cropland
Sales Price: $191,500
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $19,200 -$19,200Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: -$19,200
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $4,692 $0Pasture/open 30.1 16.0 14.1 $4,692 $65,923Upland woodland 2.5 31.9 -29.4 $3,050 -$89,603Low woodland/wetland 0.0 0.0 0.0 $2,346 $0Building sites 0.0 0.0 0.0 $4,692 $0Ponds 0.0 0.0 0.0 $5,630 $0
32.6 47.9 -15.3 Total: -$23,681
Subtotal after quantitative adjustments: $148,619
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $148,619
% diff from subject:
Sale 4 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.
Buyer: Hestir, William, etal. County: OconeeSeller: Ridgeway, Lynn M etal. Sale Date: 7-Jun-17
Purchase Price: $199,500 Deed Ref: 2274-82Acres: 49 Zoning: none
Tax Map: 312-00-04-003 Gross price/ac: $4,071Location: 5.3 miles NE of Fair Play, SC Land price/ac: $4,071
Short Description: Grassland and woodland
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale 5
$0$0
$0
Est. Value
$0
100% $5,112 $020.5 100% $5,112 $104,79828.5 65% $3,323 $94,702
50% $2,556 $0100% $5,112 $0120% $6,135 $0
Total: 49 $199,500
From Description: 49
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
Land Improvements DetailDescription of Land Improvements
Sale 5 (cont.)
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good DRCN
Rel. ValueValue per
acre
Timber Detail
Land Component Detail
Pasture/open
Land Type Component Acres
Center Pivot Irrigation Calculations
Ponds
Upland woodlandLow woodland/wetlandBuilding sites
Tot. land component
Cropland
Sales Price: $199,500
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: $0
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $5,112 $0Pasture/open 30.1 20.5 9.6 $5,112 $48,821Upland woodland 2.5 28.5 -26.0 $3,323 -$86,395Low woodland/wetland 0.0 0.0 0.0 $2,556 $0Building sites 0.0 0.0 0.0 $5,112 $0Ponds 0.0 0.0 0.0 $6,135 $0
32.6 49.0 -16.5 Total: -$37,574
Subtotal after quantitative adjustments: $161,926
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $161,926
% diff from subject:
Sale 5 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.
Buyer: Stovall, Lindsay D County: OconeeSeller: Lyles, Betty H Sale Date: 12-May-15
Purchase Price: $140,000 Deed Ref: 2104-93Acres: 40.08 Zoning: none
Tax Map: 260-00-02-003 Gross price/ac: $3,493Location: 6.2 miles WSW of Westminster, SC Land price/ac: $3,291
Short Description: Grassland and woodland
Timber Value: $8,100Leases, contracts: None
Est. Impr. Value: $0
Sale 6
$0
Est. Value
$0
$8,100
100% $4,077 $018 100% $4,077 $73,386
22.08 65% $2,650 $58,51450% $2,039 $0
100% $4,077 $0120% $4,892 $0
Total: 40.08 $131,900
From Description: 40.08
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
$00 $00 $0
CroplandPasture/open
Land Type Component
Center Pivot Irrigation Calculations
Ponds
Upland woodlandLow woodland/wetlandBuilding sites
Acres Rel. ValueValue per
acre
Timber Detail
Unthinned pine timber, approx 11 y/o
Land Component DetailTot. land
component
Sale 6 (cont.)
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good DRCN
Land Improvements DetailDescription of Land Improvements
Sales Price: $140,000
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $8,100 -$8,100Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: -$8,100
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $4,077 $0Pasture/open 30.1 18.0 12.1 $4,077 $49,128Upland woodland 2.5 22.1 -19.6 $2,650 -$51,888Low woodland/wetland 0.0 0.0 0.0 $2,039 $0Building sites 0.0 0.0 0.0 $4,077 $0Ponds 0.0 0.0 0.0 $4,892 $0
32.6 40.1 -7.5 Total: -$2,760
Subtotal after quantitative adjustments: $129,140
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 10% $12,914Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 10% $12,914
Indicated Value of Subject: $142,054
% diff from subject:
Sale 6 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.See the sales grid for explanation of subjective adjustments.
Buyer: Wilbanks, Phillip L County: OconeeSeller: Bennett, Billy G Sale Date: 20-May-15
Purchase Price: $68,000 Deed Ref: 2106-93Acres: 20.33 Zoning: none
Tax Map: 289-00-01-090 Gross price/ac: $3,345Location: 4 miles SE of Westminster, SC Land price/ac: $3,345
Short Description: Grassland and woodland
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale 7
$0
Est. Value
$0
100% $3,952 $011.4 100% $3,952 $45,0588.93 65% $2,569 $22,942
50% $1,976 $0100% $3,952 $0120% $4,743 $0
Total: 20.33 $68,000
From Description: 20.33
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
Sale 7 (cont.)
Low woodland/wetland
Land Component Detail
Land Type Component Acres Rel. ValueValue per
acreTot. land
component
Pasture/openUpland woodland
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good DRCN
Center Pivot Irrigation Calculations
Land Improvements DetailDescription of Land Improvements
PondsBuilding sites
Cropland
Timber Detail
Sales Price: $68,000
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: $0
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $3,952 $0Pasture/open 30.1 11.4 18.7 $3,952 $73,713Upland woodland 2.5 8.9 -6.4 $2,569 -$16,519Low woodland/wetland 0.0 0.0 0.0 $1,976 $0Building sites 0.0 0.0 0.0 $3,952 $0Ponds 0.0 0.0 0.0 $4,743 $0
32.6 20.3 12.2 Total: $57,194
Subtotal after quantitative adjustments: $125,194
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $125,194
% diff from subject:
Sale 7 Detailed Adjustment Sheet
See the sales grid for explanation of subjective adjustments.
Buyer: Hubbard, David G County: OconeeSeller: England, B M Jr. (estate) Sale Date: 1-Nov-17
Purchase Price: $252,100 Deed Ref: 2311-217Acres: 67.54 Zoning: none
Tax Map: 219-00-03-007 Gross price/ac: $3,733Location: 0.8 miles north of Westminster Land price/ac: $3,733
Short Description: Woodland and grassland
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale 8
$0
Est. Value
$0
100% $4,688 $028.2 100% $4,688 $132,213
39.34 65% $3,047 $119,88750% $2,344 $0
100% $4,688 $0120% $5,626 $0
Total: 67.54 $252,100
From Description: 67.54
ID Radius (ft) Arc (deg.) Acres $/ac
Total contrib. value
Building sitesPonds
Pasture/openUpland woodlandLow woodland/wetland
Sale 8 (cont.)
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem. Eco.
Life % good DRCN
Description of Land Improvements
Center Pivot Irrigation Calculations
Cropland
Timber Detail
Mostly cutover land, no timber value
Land Component Detail
Land Type Component Acres Rel. ValueValue per
acreTot. land
component
Land Improvements Detail
Sales Price: $252,100
Quantitative AdjustmentsTimber and Improvements Subject Sale AdjustmentTimber $0 $0 $0Land improvements $0 $0 $0Building improvements $0 $0 $0
Total: $0
Land Adjustments Subject Sale Difference value/acre Adjustment
Cropland 0.0 0.0 0.0 $4,688 $0Pasture/open 30.1 28.2 1.9 $4,688 $8,674Upland woodland 2.5 39.3 -36.8 $3,047 -$112,268Low woodland/wetland 0.0 0.0 0.0 $2,344 $0Building sites 0.0 0.0 0.0 $4,688 $0Ponds 0.0 0.0 0.0 $5,626 $0
32.6 67.5 -35.0 Total: -$103,595
Subtotal after quantitative adjustments: $148,505
Subjective Adjustments Adj. to subtotal Adjustment
Time, conditions of sale 0% $0Location, access, frontage 0% $0Size 0% $0Condition, Topography 0% $0Other 0% $0
Net subjective adjustments: 0% $0
Indicated Value of Subject: $148,505
% diff from subject:
Sale 8 Detailed Adjustment Sheet
Buyer: Henry B Lewis County: HorrySeller: Horry County State Bank Sale Date: 14-Apr-14
Purchase Price: $64,500 Deed Ref: 3726/3195Acres: 36.12 Easement: Ag Use
Tax Map: 009-00-01-065 Gross Price/acre: $1,786Location: 13.7 miles NW of Loris on Pickney Road Land Price/acre: $1,786
Short Description: Samll farm tract with ag use easement
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale E12
Buyer was a local farmer looking to increase his acreage. Easement precludes all development andsubdivision. This farm cannot be used for any development of any type. No houses can be placed on theproperty, no commercial building or farm buildings can be erected. Farms in this area range in valuefrom $2800 per acre to $4000 per acre. This sale shows a significant reduction from these per acrevalues.
$0
Est. Value
$0
20 100% $2,515 $50,30875% $1,887 $075% $1,887 $0
16.12 35% $880 $14,1920% $0 $0
150% $3,773 $0Total: 36.12 $64,500
From Description: 36.12
Lowland woodlandSwamp/MarshPonds
CroplandGrassland/OpenUpland woodland
Timber Detail
Land Component Detail
Land Type Component AcresRel.
ValueValue per
acreTot. land
component
Sale E12
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem.
Eco. Life % good DRCN
Land Improvements DetailDescription of Land Improvements
Buyer: Terry W. Strickland County: MarionSeller: Tolmand and Sandra Lennon Sale Date: 22-Mar-12
Purchase Price: $112,000 Deed Ref: 194/170Acres: 56.5 Easement: FRPP
Tax Map: 044-030 Gross Price/acre: $1,982Location: 4.0 miles NE of Marion on Gurley Road Land Price/acre: $1,982
Short Description: Farmland tract with FRPP easement
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $0
Sale E13
The parcel is well located near US 501 Bypass and SC41-A. The sale is predominately open land that haswas used as pasture prior to sale. The buyer placed the sale into row crop production.
$0
Est. Value
$0
55.5 100% $2,005 $111,29875% $1,504 $075% $1,504 $0
1 35% $702 $7020% $0 $0
150% $3,008 $0Total: 56.5 $112,000
From Description: 56.5
Sale E13
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem.
Eco. Life % good DRCN
Land Improvements DetailDescription of Land Improvements
Timber Detail
Land Component Detail
Land Type Component AcresRel.
ValueValue per
acreTot. land
componentCroplandGrassland/OpenUpland woodlandLowland woodlandSwamp/MarshPonds
Buyer: Dale and Emmal Cannon County: SumterSeller: Howle Q1 LLC Sale Date: 14-Sep-12
Purchase Price: $628,238 Deed Ref: 1176/2911Acres: 335.06 Easement: Ag Use
Tax Map: 157-00-02-022/042, 183-00-01-014 Gross Price/acre: $1,875Location: 6.7 miles west of Sumter on N St Paul Rd Land Price/acre: $1,400
Short Description: Farm tract with a farm use conservation easement
Timber Value: $159,250Leases, contracts: None
Est. Impr. Value: $0
Sale E14
Seven acres of the sale parcel were not encumbered by the easement. The buyer cut much of thetimber on the western portion of the tract and converted it to farmland after purchase.
$0
Est. Value
$0
$159,250
90 100% $1,713 $154,16275% $1,285 $0
245.06 75% $1,285 $314,82635% $600 $0
0% $0 $0150% $2,569 $0
Total: 335.06 $468,988
From Description: 335.06
Sale E14
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem.
Eco. Life % good DRCN
Land Improvements DetailDescription of Land Improvements
Timber Detail
Thinned pine timber, based on aerial photography
Land Component Detail
Land Type Component AcresRel.
ValueValue per
acreTot. land
componentCroplandGrassland/OpenUpland woodlandLowland woodlandSwamp/MarshPonds
Buyer: Arthur K Cates County: GeorgetownSeller: Edward W Hickson Sale Date: 16-May-14
Purchase Price: $1,300,000 Deed Ref: 2365/132Acres: 367.75 Easement: Ag use
Tax Map: 03-0428-027, -028, -029 Gross Price/acre: $3,535Location: 16.95 miles NE of Georgetown, SC on Rose Hill Rd Land Price/acre: $1,326
Short Description: Improved farmland with conservation easement
Timber Value: $350,000Leases, contracts: None
Est. Impr. Value: $462,500
Sale E15
Sale was encumbered with an ag use conservation easement. Sale is improved with a large dwelling andhorse barn and also had significant timber value. Part of the sales price is a lot that is located in thePawley's Island area that was valued at $200,000 by both the buyer and seller. The sale shows a deedprice of $1,100,000 but an appraiser involved in the sale indicated the contract called for $1.3M. Theseller received $665,000 for the conservation easement.
All buildings (based on buyer) $750,000 25 35 58% $437,500
$437,500
Est. Value$25,000
$25,000
$350,000
24 100% $1,817 $43,60610 75% $1,363 $13,627
277 75% $1,363 $377,46348.75 35% $636 $31,001
0% $0 $08 150% $2,725 $21,803
Total: 367.75 $487,500
From Description: 367.75
Sale E15
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem.
Eco. Life % good DRCN
Land Improvements DetailDescription of Land ImprovementsSite improvements
Timber Detail
Pine plantations
Land Component Detail
Land Type Component AcresRel.
ValueValue per
acreTot. land
componentCroplandGrassland/OpenUpland woodlandLowland woodlandSwamp/MarshPonds
Buyer: FLO Fund Domestic, LLC County: SumterSeller: Cameron Simpson Sale Date: 8-Jul-14
Purchase Price: $2,700,000 Deed Ref: 1203/4635Acres: 898.2 Easement: FRPP/WRP
Tax Map: Several Gross Price/acre: $3,006Location: 7.6 miles NW of downtown Sumter, SC Land Price/acre: $2,685
Short Description: Agricultural tract with FRPP and WRP easements
Timber Value: $0Leases, contracts: None
Est. Impr. Value: $288,611
ID202206218222209214
Sale E16
Tract has a federal FRPP easement on 733.6 acres and a federal wetlands easement (WRP) on 47.8 acresin the far eastern corner of the tract. approximately 116 acres on the west side of Black River Road arenot constrained by either easement. Buyer is an agricultural Investment Management Organzation thatbuys and leases large tracts of farmland in the region. Sale included several center pivot irrigationsystems, some of which have since been replaced and upgraded by the buyer.
$0
Est. Value$288,611
$288,611
773.4 100% $2,875 $2,223,2449.1 75% $2,156 $19,619
36.7 75% $2,156 $79,12476 35% $1,006 $76,465
0% $0 $03 150% $4,312 $12,936
Total: 898.2 $2,411,389
From Description: 898.2
IDRadius
(ft) Arc (deg.) Acres $/ac
Total contrib. value
202 835 360 50 $650 $32,685206 975 360 69 $650 $44,564218 1275 360 117 $650 $76,207222 1375 210 80 $650 $51,701209 900 360 58 $650 $37,972214 985 360 70 $650 $45,483
444 $288,611
Sale E16
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem.
Eco. Life % good DRCN
Land Improvements DetailDescription of Land ImprovementsSee center pivot details below
Timber Detail
None
Land Component Detail
Land Type Component AcresRel.
ValueValue per
acreTot. land
componentCroplandGrassland/OpenUpland woodland
Center Pivot Irrigation Calculations
Lowland woodlandSwamp/MarshPonds
Buyer: Coosaw Land, LLC County: BeaufortSeller: Lands End Plantation Holding Corp. Sale Date: 10-Aug-16
Purchase Price: $867,000 Deed Ref: 3506-1569Acres: 231 Easement: Land Trust
Tax Map: R300 041 000 0001 Gross Price/acre: $3,753Location: St Helena Island, southwest corner Land Price/acre: $2,503
Short Description: Marshfront property with conservation easement
Timber Value: $288,750Leases, contracts: None
Est. Impr. Value: $0
ID202206218222209214
Sale E17
Tract sold with a Beaufort County Open Land Trust conservation easement in place that allows for 7subdivisions between and 13 acres in a specified area. The owner was paid $471,500 for this easement.The property is marshfront but does not have navigable water access. The buyer cut over the timbersoon after sale. Tract has private dirt road access only.
$0
Est. Value
$0
$288,750
100% $3,385 $075% $2,538 $0
225 75% $2,538 $571,1426 35% $1,185 $7,108
0% $0 $0150% $5,077 $0
Total: 231 $578,250
From Description: 231
IDRadius
(ft) Arc (deg.) Acres $/ac
Total contrib. value
202 835 360 50 $650 $32,685206 975 360 69 $650 $44,564218 1275 360 117 $650 $76,207222 1375 210 80 $650 $51,701209 900 360 58 $650 $37,972214 985 360 70 $650 $45,483
444 $288,611
Sale E17
Building Improvements Detail
Description Area Cond. RCN Eff. AgeRem.
Eco. Life % good DRCN
Land Improvements DetailDescription of Land Improvements
Timber Detail
Mixed pines and hardwoods, primarily planted pines
Land Component Detail
Land Type Component AcresRel.
ValueValue per
acreTot. land
componentCroplandGrassland/OpenUpland woodland
Center Pivot Irrigation Calculations
Lowland woodlandSwamp/MarshPonds
64
35. PLOT PLAN Theplatfollows.Thedelineationoftheeasementhasnotyetbeenformallysurveyedandisincludedinthepropertydescriptionsectionofthisreport.
36. FLOOR PLANS Notrequiredforthisreport.
37. TITLE EVIDENCE REPORT Atitleevidencereportwasnotsupplied.
38. OTHER PERTINENT EXHIBITS PHOTOGRAPHS Allphotographsweretakenbytheappraiseronthedateoftheinspection.
MooreFRPP
65
FIGURE4.FACINGSOUTHIN THEEASTERNPORTIONOFTHETRACT
FIGURE5.ROLLINGPASTURETYPICALOFTHEPROPERTY
66
FIGURE6.FENCELINE,CENTRALPORTIONOFTHEPROPERTY
FIGURE7.NORTHERNPORTIONOFTHETRACT.TREELINETOTHERIGHTISTHENEPROPERTYBOUNDARY
MooreFRPP
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FIGURE8.VIEWOFSMALLERRESIDENCEFROMTHEWESTOAKHIGHWAY(NOTINEASEMENTAREA)
FIGURE9.VIEWOFLARGERRESIDENCEFROMTHECENTEROFTHETRACT(NOTINTHEEASEMENTAREA)
68
APPRAISER QUALIFICAT IO NS
MooreFRPP
69
RICHARD H. HOLSTEIN IV, P.E.
M.S. CIVIL ENGINEERING, North Carolina State University, Environmental Engineering concentration, 1994 B.S. MECHANICAL ENGINEERING, Clemson University, 1984
EDUCATION: APPRAISAL EXPERIENCE: I started in the appraisal business in 2005 after careers in the military and engineering. I moved back home to South Carolina and joined my father at Holstein Appraisals, where he had spent the previous 20 years developing a specialized appraisal business focusing on agricultural properties, agri-business, rural estates, conservation easements, and other non-standard rural properties across South Carolina, North Carolina, and Georgia. I cut my teeth in this business appraising everything from broiler farms to feed mills to rural commercial properties. I have appraised some of the largest farming operations in South Carolina and Georgia, including the nation’s largest peach farm and largest onion farm. I have appraised wildlife refuges in excess of 150,000 acres for the federal government; but I have also appraised plenty of small 5-acre rural tracts for individuals. I truly enjoy the variety and the challenge of the appraisal business.
CAREER HIGHLIGHTS: HOLSTEIN APPRAISALS. Certified General Real Estate Appraiser specializing in complex income-producing agricultural properties, conservation easements, rural estate properties, and general agri-business. 2005 – Present TETRA TECH. Louisville, KY Operations Manager in charge of a 30-person engineering office specializing in water/wastewater system design, structural engineering, and environmental engineering. 1997 – 2008. RADIAN INTERNATIONAL LLC. Staff Environmental Engineer, Raleigh, NC and Louisville, KY, specializing in air quality, air pollution control technologies, and water quality projects. 1994 – 1997. U.S. ARMY. Military Intelligence Officer in the airborne forces, serving in a variety of command and staff positions in the 519th Military Intelligence Battalion, including command of a POW interrogation company and other operational intelligence units in a variety of theaters of operation in peacetime and combat. 1985 - 1994
CLIENTS: GOVERNMENT USDA Farm Service Agency USDA NRCS US Department of the Interior US Fish and Wildlife Service South Carolina Forestry Commission CORPORATE/PRIVATE We work for a variety of commercial lenders, agricultural lenders, agricultural real estate investment trusts (REITs), farm management operations, capital investment groups, and land trusts.
CERTIFICATIONS: EDUCATION BEYOND GENERAL CERTIFICATION COURSES U.S. Brownfield Association, Valuation of Environmentally Damaged Properties, Chicago, IL, 2006 Conservation Easements Seminar, Columbia, SC, 2007 FHA Appraisal Certification, Charleston, SC, 2007 Timberland Valuation Seminar, Columbia, SC, 2008 Valuation of Historic Properties, Charleston, SC, 2009 Foreclosure and REO Properties, Columbia, SC, 2010 Environmental Considerations for Appraisers, Columbia, SC, 2010 Environmentally Damaged Income Properties, Columbia, SC, 2010 Uniform Appraisal Standards for Federal Land Acquisition (Yellow Book), Denver, CO, 2012 Conservation Easements—Tax Implications, IRS, Columbia, SC 2013 Appraisal of Poultry Facilities, Greensboro, NC, 2017
REGISTRATIONS Certified General Appraiser SC 5509 | NC A7477 | GA 345673 Registered Professional Engineer SC #25438 (inactive) KY #21325 (inactive)
District 1 Representative, Batesburg-Leesville SC Planning Commission Member, South Carolina Professional Appraisers Coalition Associate Member, The Appraisal Institute
70
MooreFRPP
71
DEED INFORMAT IO N
72
PROPERTY CARD
5/11/18, 2(49 PMOconee County Assessor's Office
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Owner and Parcel InformationOwner Name MOORE PEGGY ELIZABETH B Today's Date May 11, 2018
Mailing Address 199 TWIN OAKS LANE Parcel Number 290-00-04-010 Tax ID: 38877
WESTMINSTER, SC 296930000 Tax District (District 001)
Location Address 2015 Millage Rate
Legal Description (34.318 AC) Acres 34.318
Property Class / Property Type / Farm with Living Unit Parcel Map
Neighborhood CENTER TWP
2016 Tax Year Value InformationLand Taxable Market Value Improvement Taxable Market Value Total Taxable Market Value
$ 109,200 $ 57,790 $ 166,990
Land InformationLand Type Frontage Effective Frontage Effective Depth Acres Square Footage
75 0 0 0 33.318 1,451,332
90 0 0 0 1 43,560
Residential Building Information
Occupancy Style Base AreaSq Ft
Finished Living AreaSq Ft Stories Interior
WallsExterior
WallsYearBuilt
EffectiveYear Built
11 11 Ranch 1,102 1,102 1.0 Normal for Class MASONRY VENEER 1962 1962
RoofMaterial
RoofType
RoofFrame
RoofPitch
HeatingType Rooms/Bedrooms/Bathrooms Grade Sketch
Asphalt Shingles Gable Std for class Wall units 5/3/1.5 Fair Show Building Sketch
Commercial and Miscellaneous Improvement InformationBuilding Type Year Built Eff Year Built Length/Width/Height Size Grade Sketch
ICP 0 0 22 / 12 / 0 264 Show Sketch
UTILROOM 1995 1995 10 / 10 / 1 100 SF Avg Show Sketch
UTLSHED 1987 1987 8 / 8 / 10 64 SF Avg Show Sketch
Sale InformationSale Date Sale Price Deed Book / Page Qualification Reason Grantor Grantee
No Sales Information available for this parcel
Recent Sales in NeighborhoodRecent Sales in Area Previous Parcel Next Parcel Field Definitions Return to Main Search Page Oconee Home
The Oconee County Assessor's Office makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein,its use or interpretation. Website Updated: May 10, 2018
© 2012 by the County of Oconee, SC | Website design by qpublic.net
5/30/18, 3)15 PMOconee County Assessor's Office
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Owner and Parcel InformationOwner Name MOORE PEGGY ELIZABETH B Today's Date May 30, 2018
Mailing Address 199 TWIN OAKS LANE Parcel Number 290-00-04-080 Tax ID: 1068932
WESTMINSTER, SC 296930000 Tax District (District 001)
Location Address 2015 Millage Rate
Legal Description (2.481 AC) Acres 2.481
Property Class / Property Type / Residential 1 Family Parcel Map
Neighborhood CENTER TWP
2016 Tax Year Value InformationLand Taxable Market Value Improvement Taxable Market Value Total Taxable Market Value
$ 13,690 $ 52,180 $ 65,870
Land InformationLand Type Frontage Effective Frontage Effective Depth Acres Square Footage
90 0 0 0 1 43,560
93 0 0 0 1.481 0
Residential Building Information
Occupancy Style Base AreaSq Ft
Finished Living AreaSq Ft Stories Interior
WallsExterior
WallsYearBuilt
EffectiveYear Built
Single family 32 Traditional 3,472 2,315 1.0 Normal for Class FRAME SIDING 1909 1909
RoofMaterial
RoofType
RoofFrame
RoofPitch
HeatingType Rooms/Bedrooms/Bathrooms Grade Sketch
Metal Hip Std for class Forced hot air 6/3/4.5 Low Show Building Sketch
Commercial and Miscellaneous Improvement InformationBuilding Type Year Built Eff Year Built Length/Width/Height Size Grade Sketch
No miscellaneous information available for this parcel.
Sale InformationSale Date Sale Price Deed Book / Page Qualification Reason Grantor Grantee
No Sales Information available for this parcel
Recent Sales in NeighborhoodRecent Sales in Area Previous Parcel Next Parcel Field Definitions Return to Main Search Page Oconee Home
The Oconee County Assessor's Office makes every effort to produce the most accurate information possible. No warranties, expressed or implied, are provided for the data herein,its use or interpretation. Website Updated: May 23, 2018
© 2012 by the County of Oconee, SC | Website design by qpublic.net
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MooreFRPP
73
ENGAGEMENT LETT ER Engagementwasviaemailandtelephone.