Biochemistry /Real Estate Notes PSI Exam Prep: Land Use Controls and Regulations Part 1
Real Estate Notes PSI Exam Prep: Land Use Controls and Regulations Part 1
This deck covers key concepts related to land use controls and regulations, including types of taxes, government powers, zoning laws, and environmental concerns in real estate.
These are taxes based on the value of the real estate.
Ad valorem (To value) taxes
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Key Terms
Term
Definition
These are taxes based on the value of the real estate.
Ad valorem (To value) taxes
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These taxes may pay for items such as schools, police, fire, etc.
General property taxes
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These taxes are imposed only on properties that benefit from the improvement, such as a tax to install a sewer line or city water line on one specific street. Other examples may include paved streets, curbs, sidewalks, or street lighting.
Special assessment taxes
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These type of liens take priority over all other property liens in most states.
Property tax liens
The government’s power to take private land for public use. For example, this could be used to take private property needed for a planned freeway project.
Eminent domain
The process of taking title and physical possession of private property using the government’s power of eminent domain; the property owner is paid just compensation for the value of the property.
Condemnation action
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| Term | Definition |
|---|---|
These are taxes based on the value of the real estate. | Ad valorem (To value) taxes |
These taxes may pay for items such as schools, police, fire, etc. | General property taxes |
These taxes are imposed only on properties that benefit from the improvement, such as a tax to install a sewer line or city water line on one specific street. Other examples may include paved streets, curbs, sidewalks, or street lighting. | Special assessment taxes |
These type of liens take priority over all other property liens in most states. | Property tax liens |
The government’s power to take private land for public use. For example, this could be used to take private property needed for a planned freeway project. | Eminent domain |
The process of taking title and physical possession of private property using the government’s power of eminent domain; the property owner is paid just compensation for the value of the property. | Condemnation action |
The government takes private property but fails to compensate the owner; property owners are forced to file suit to obtain compensation. The taking may be physical through occupation, or regulatory, where government regulations cause the property to lose economic value. | Inverse condemnation |
The state’s power to take the property of a decedent who dies without a will, heirs, or creditors. | Escheat |
It is the government’s authority, at any level, to do what it can to ensure the health, safety, and welfare of its citizens. | Police power |
These power includes licensing, public services, zoning, and building codes. | Police power |
It is a police power exercised by a state, county, city, or town government that classifies land based on its current or intended usage. | Zoning |
Local laws or regulations that implement the comprehensive plan by regulating zoning and land use and are usually enforced at the city level. It regulates things like lot size, building height, and permitted uses within each zoning classification on a zoning map and may not violate the federal Fair Housing Act. | Zoning ordinances |
This is often monitored by requiring developers to make application for permits, which are only granted if they’re not at odds with zoning ordinances. | Zoning compliance |
What are the zoning classification? | Residential; Commercial; Combination/mixed use; Industrial; Open space; Agricultural; Parkland; Recreation area |
It allows otherwise prohibited development in return for the developer providing a community benefit. | Incentive zoning |
Regulates the density of a given area by requiring certain building height limitations, lot width, setback requirements, etc. It applies to both residential and commercial zoning. | Bulk zoning |
It is a way to ensure the visual and architectural consistency of an area. | Aesthetic zoning |
It is the process of assigning a lower-density use zone to an area previously allowing a higher density. | Downzoning |
It refers to a number of things per unit, such as houses per acre. | Density zoning |
It rezones a specific property for use within another zoning area. | Spot zoning |
It deviates from current zoning but is grandfathered in (such as a home built years ago in an area that’s now commercially zoned). | Nonconforming use |
It temporarily halts new property development. | Moratorium (moratory or delay) |
It allows use that’s not normally permitted but is considered an “allowable” use within that zoning, such as a church within a residentially zoned area. | Special use permit (aka conditional use permit) |
Typically granted when the zoning has created a hardship or burden on the property owner. Both this permits and variances require a public hearing before they’re granted. | Variance (aka use variance) Permitted deviation |
They develop the master plan (also known as comprehensive plan), which includes a budget. In a city, this is known as urban planning. | The planning board |
It describes the physical and natural features of an area. | Topography |
It is a map of a subdivision that represents a tract of land, showing the boundaries and location of individual properties, streets, easements, and other pertinent information. | Plat map |
These are rules that specify the standards to which certain building projects must comply. These help ensure safe, properly functioning buildings for their occupants. It addresses the method of construction, materials used, and the building’s safety and sanitary standards. | Building codes |
Provide bare minimum standards for all residential and commercial buildings in the state, while local codes provide additional regulation. | State building codes |
If there is no state or local code… | Builders must comply with the federal building code. |
It permits existing construction to be sold and occupied without meeting current building codes. | Most municipalities |
These are areas that are saturated by water in an amount sufficient to support vegetation that grows in the saturated soil. | Wetlands |
They are an additional environmental concern for homeowners and buyers. These are low-lying areas of property that are susceptible to flooding because of their proximity to a water source. | Flood zones (aka floodplains) |
This agency provides a search service that homeowners can use to determine if their property lies in a flood zone. | The Federal Emergency Management Agency (FEMA) |
They are abandoned commercial or industrial sites suspected to contain toxic waste. | Brownfields |