Redevelopment Commission of High Point v. Denny Roll & Panel Co.

The issue as to the amount of damages or compensation was for determination de novo by jury trial in the superior court. G.S. 40-19; G.S. 40-20; Proctor v. Highway Commission, 230 N.C. 687, 55 S.E. 2d 479; Gallimore v. Highway Comm., 241 N.C. 350, 85 S.E. 2d 392; Redevelopment Commission v. Smith, 272 N.C. 250, 158 S.E. 2d 65.

There was evidence that, in the appraisal of property, there are three standard approaches, namely, (1) the cost approach, (2) the income approach, and (3) the market comparison approach; that the cost approach involves a determination of the fair market value of the…