(a) The fair market value of the property does not include an increase or decrease in value before the date of valuation that is caused by

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Terms Used In Alabama Code 18-1A-173

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • property: includes both real and personal property. See Alabama Code 1-1-1
(1) The proposed improvement or project for which the property is taken;
(2) The reasonable likelihood that the property would be acquired for that improvement or project; or
(3) The condemnation action in which the property is taken.
(b) If the second taking was within contemplation of the condemnor at the time of the first taking the valuation of the second taking shall exclude any enhancement value arising out of or created by the first taking.
(c) Notwithstanding subsections (a) and (b), a decrease in value before the date of valuation which is caused by physical deterioration of the property within the reasonable control of the property owner, and by his unjustified neglect, may be considered in determining fair market value.
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