Notwithstanding any law to the contrary, in any condemnation proceeding in this state, an appraisal of the property must be obtained. The appraisal shall value the property considering its highest and best use, its use at the time of the taking, and any other uses to which the property is legally adaptable at the time of the taking. Any appraiser making an appraisal must possess the designation Member of the Appraisal Institute (MAI), or be an otherwise licensed and qualified appraiser under title 62, chapter 39.
Tenn. Code Ann. § 29-17-1004
Appraisal required in any condemnation proceeding
Applied in 1 court decision — leading case Oakbrook Land Holdings, LLC v. Comm'r of Internal Rev. (2022)
Most recently applied in Oakbrook Land Holdings, LLC v. Comm'r of Internal Rev. (March 2022)
Acts 2006, ch. 863, § 20.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.