LOCAL RULE 61.1 APPRAISER FEES/COMPENSATION
 

Appraisers' fees for real estate shall be based upon the entire value of the assets subject to appraisal (not the decedent's interest in the property which may be fractional). Fees shall be computed at the rate of:

  1. One Dollar ($1.00) per thousand on the first Thirty-Five Thousand Dollars ($35,000.00).
    Minimum - Seventy-Five Dollars ($75.00).

  2. Two Dollars ($2.00) per thousand on the next Fifty Thousand Dollars ($50,000.00).

  3. One Dollar Fifty Cents ($1.50) per thousand on the next One Hundred Thousand Dollars ($100,000.00).

  4. One Dollar ($1.00) per thousand on the balance over One Hundred Eighty-Five Thousand Dollars ($185,000.00).

When an appraisal of multiple properties is performed, the above fee schedule shall apply to the aggregate value of all properties.

Ordinary fees under Five Hundred Dollars ($500.00), paid in compliance with this rule, may be paid without application and entry.

On tangible personal property subject to appraisal, the value of which is not readily ascertainable, the appraiser's compensation shall be One Dollar ($1.00) per thousand of the total value.

If by reason of the application of such percentages to the value of assets of an estate, a disparity or injustice results, such disparity or injustice may be reviewed on the Court's own Motion or upon application of the fiduciary or any party in interest.

Additional compensation for extraordinary services performed may be allowed by the Court upon application filed by the fiduciary.

In land sale proceedings, the appraiser appointed by the Court may be compensated for services in the same manner as provided herein for estate appraisers, with a minimum fee of Seventy-Five Dollars ($75.00) per parcel, provided that the amount to be paid the appraiser shall be set forth in the entry of distribution and be subject to the approval of the Court.

An appraiser may waive entitlement to all or any part of the compensation allowable under this Rule.

Where any question arises in the interpretation of this Rule, or if the amount of compensation cannot be agreed upon, the executor or administrator shall file an application for allowance of compensation to each appraiser. Otherwise, no Court Order is necessary, and credit may be taken for payment in the next regular account as provided by law, subject to all exceptions which may be thereafter filed.

In the event the appraiser's fee exceeds Five Hundred Dollars ($500.00) when calculated in accordance with the above schedule, special approval must be obtained upon proper application to the Court.

[Former Rule 28.1 amended and renumbered as Rule 61.1, effective June 10, 1998; amended effective October 1, 2000; April 15, 2002; February 1, 2006.]

 

 

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