Assessing Change in the Market Value of Rural Real Property Post-Wildfire in the Great Plains

Summary

This article provides a framework for assessing change in rural real property values after a wildfire. The research literature addresses some of the impacts on real property, but the specific effects of wildfire on rural property values are underexplored. This article fills that gap by offering a systematic approach, using recognized professional methods to analyze highest and best use, identify the need for additional experts, and assess market expectations post-wildfire. It also addresses potential mitigation strategies, offering practical guidance for property owners, insurers, and policymakers.