Indiana § 8-23-7-2.5 - Appraisal of real property
Full text of Indiana Indiana Code § 8-23-7-2.5 — Appraisal of real property, with citation guidance and answers to common questions.
§ 8-23-7-2.5. Appraisal of real property
Sec. 2.5. (a) Except as provided in subsection (b), real property to be acquired by the department for a purpose described in section 2 of this chapter shall be appraised before the initiation of negotiations.
(b) An appraisal is not required if:
(1) the owner is donating the property and releases the agency from its obligation to appraise the property; or
(2) the agency determines that an appraisal is unnecessary because the valuation problem is uncomplicated and the anticipated value of the proposed acquisition is estimated at less than ten thousand dollars ($10,000) based on a review of available data.
(c) When an appraisal is determined to be unnecessary, the agency shall prepare a waiver valuation. A person preparing or reviewing a waiver valuation is precluded from complying with Standard Rules 1, 2, 3, and 4 of the Uniform Standards of Professional Appraisal Practice, as in effect in the current edition, as promulgated by the Appraisal Standards Board of the Appraisal Foundation.
(d) A person performing a waiver valuation under subsection (c) must have sufficient understanding of the local real estate market to be qualified to make the waiver valuation.
As added by P.L.12-2022, SEC.4.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-23-7-2.5
What does Indiana Code § 8-23-7-2.5 cover?
Section 8-23-7-2.5 ("Appraisal of real property") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 8-23-7-2.5?
A common citation format is "Indiana Code § 8-23-7-2.5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 8-23-7-2.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.