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that cannot be developed. While no Government agency had
formally designated any part of the subject property as
wetland, we find that, as of the time of the decedent's
death, the breakdown between wetland and dry land for each
parcel was as follows:
Folio Total Wetland Dry Land
3143.0 30.03 10.03 (33.40%) 20.00 (66.60%)
3143.5 26.47 23.00 (86.89%) 3.47 (13.11%)
56.50 33.03 (58.46%) 23.47 (41.54%)
We sometimes refer to the portion of the subject property
consisting of so-called dry land as "usable acres".
On December 7, 1984, Mr. Sirmans hired Mr. John Hunt,
ARA, to appraise the decedent's 56.5 acre parcel. Mr. Hunt
concluded that the highest and best use of the decedent's
property was for residential use. Using the market value
approach, under which similar parcels of property are
compared to the subject parcel, Mr. Hunt valued the subject
property as follows:
22.27 acres highland @ $10,000/Ac = $222,700
34.23 acres low swamp @ 500/Ac = 17,115
56.50 239,815
Value from the market approach 240,000
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Last modified: May 25, 2011