A. Appraisal means a written statement as to the value of the property for which the claim is made prepared by a person certified under ORS Chapter 674 or a person registered under ORS Chapter 308 and in compliance with the Uniform Standards of Professional Appraisal Practice, as authorized by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

B. Reduction in fair market value means the difference in the fair market value of the property from the date that is one year before the enactment of the land use regulation to the date that is one year after the enactment.

C. Waive or waiver means an action or decision authorizing a claimant to use property without application of the land use regulation(s) to the extent necessary to offset the reduction in fair market value of the property. [Ord. NS-2159, 2011]