Uniform Appraisal Standards for Federal Land Acquisitions

Overview

Contents of the Yellow Book

The Uniform Appraisal Standards for Federal Land Acquisitions, commonly known as the “Yellow Book,” is the authoritative source for real property valuation in federal land acquisition cases. Published by The Appraisal Foundation® (the Foundation) in cooperation with the U.S. Department of Justice, these standards are developed and promulgated by the Interagency Land Acquisition Conference and have been cited in both legislation and court rulings for decades. The Yellow Book is now in its sixth edition.

The primary purpose of the Yellow Book is to promote fairness, uniformity, and efficiency in the valuation of real property for federal acquisitions, ensuring compliance with the constitutional requirement of just compensation under the Fifth Amendment. These standards apply to acquisitions by voluntary sale, exchange, or eminent domain, and they reflect the legal and practical complexities unique to federal valuation assignments.

The Yellow Book is organized into four main sections:

1. Appraisal Development – Provides detailed standards for identifying the appraisal problem, determining scope of work, collecting and analyzing data, applying the approaches to value, and reconciling the final opinion of market value.
2. Appraisal Reporting – Details the required contents and format of reports prepared in compliance with these standards.
3. Appraisal Review – Covers technical and administrative reviews, emphasizing objectivity and compliance with federal law.
   
4. Legal Foundations – Explains the legal underpinnings of appraisal practice for federal acquisitions, including the federal definition of market value, the unit rule, larger parcel analysis, and the scope of the project rule.
   
   

In addition, the sixth edition includes:

• Incorporation of updated appraisal methodology and theory
• Integration of recent case law and evolving federal requirements
• Restructured content for improved clarity and consistency with Uniform Standards of Professional Appraisal Practice (USPAP®)
• Legal instructions, jurisdictional exceptions, and special valuation rules specific to federal acquisition, such as the unit rule, before-and-after rule, and treatment of project influence
  
  Together, these standards ensure that appraisals used in federal land acquisitions are credible, reliable, and accurate, and that the process upholds the public trust while treating property owners with fairness and equity.