Opinion ID: 2831421
Heading Depth: 2
Heading Rank: 1

Heading: The Sales-Comparison Approach

Text: The sales-comparison approach that McKinney referred to in her testimony is an accepted, and even favored, means for determining the market value of land. See City of Harlingen v. Estate of Sharboneau, 48 S.W.3d 177, 182 (Tex. 2001). Under this approach, “the appraiser finds data for sales of similar property” that are “voluntary,” “near in time,” “in the vicinity,” and “involve 13 land with similar characteristics.” Id. The appraiser then uses the prices from the comparison sales, which establish the market value of the similar properties, to determine the market value of the subject property, by adjusting the price upward or downward to account for differences between the properties. Id. The sales-comparison approach has most frequently been used to determine the value of land in takings cases. See id.10 In such cases, the value of the land frequently constitutes the amount of the landowner’s damages. In a tort case like this one, however, the amount of the landowners’ damages depends on other considerations, particularly whether the value of the property changed and whether that change was caused, in whole or part, by the defendant’s conduct.