Land Use & Zoning

A WV historic preservation district designation may affect real estate by:

AAutomatically increasing property taxes for all properties in the district

BRestricting exterior alterations to buildings, which may affect renovation costs and property values✓ Correct

CProhibiting all development within the district

DRequiring all buildings in the district to be sold to the state

Explanation

Historic district designation imposes design standards and review processes for exterior alterations to contributing properties. This can increase renovation costs but may also enhance property values by preserving neighborhood character.

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Key Terms to Know

Comparable Sales (Comps)

Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.

Zoning

Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.

Variance

Official permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.

Eminent Domain

The power of government to take private property for public use, with the requirement to pay the owner just compensation.

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