Public Restrictions on Land Flashcards
What is Police Power?
The constitutional basis for land-use laws – it’s the state government’s power to adopt and enforce laws necessary to protect health, safety and general welfare of the public.
What are the limitations of police power?
- Must relate to protecting public health, safety and welfare
- Must be nondiscriminatory application
- Must not reduce the value of a property so much that it amounts to confiscation
- Must protect the public from harm
What are the four exceptions / amendments to zoning ordinances?
- Nonconforming use
- Variance
- Conditional Use
- Rezone (owner believes the property was improperly zoned, called “downzoning” if it’s more restrictive)
What is the Interstate Land Sales Full Disclosure Act?
Also called ISLA, this is the way that the federal government regulates subdivisions in interstate commerce. The CFPB has enforcement authority for ISLA.
What type of environmental contaminations/issues should an agent contact an expert about?
Asbestos, urea formaldehyde (in new pressed wood materials) and radon.
What are eminent domain and condemnation?
Eminent domain is the government’s right to take private property for public purpose. Condemnation is the process by which it is taken.
Just compensation (usually fair market value) needs to be paid when property is taken by eminent domain.
What are the three types of real estate taxes?
General, Special assessments and real estate excise tax.
How is property in WA taxed?
Ad valorem (according to value), in WA the assessment is 100% of their market value. Churches, publicly owned property, cemeteries and nonprofit hospitals and schools are exempt.
What is a special assessment (tax)?
Local improvement tax: a tax that is levied against properties that have benefitted from a public improvement to cover the cost of the improvement.
What is Real Estate Excise Tax?
A tax levied on the sale of each property in WA. Based on selling price and usually collected when the deed is recorded.
