Project No.:	enter text	Project ID:	enter text
Designation:	enter text	Sign or Parcel No:	enter text
Site Owner:	enter text	Site Owner Address:	enter text
Phone Number:	enter text
Location:	enter text	Advertiser:	enter text

Date Taken:	choose a date	Taken By:	enter text
Taken From:	enter text	Facing:	enter text
Remarks:	enter text

Present use of land:	enter text
Highest and Best Use if vacant:	enter text
Is there indication of immediate land use change?	enter text
When did owner acquire property?	enter text
Was billboard on property acquired?	enter text
Type of lease:	☐ Oral ☐ Written
Lease date and terms of lease	enter text
A - Annual rent paid for sign site?	enter text
Remaining term of sign site lease =	enter text
Plus 1 renewal option	enter text
B - Total of remaining years and 1 option	enter text
C - Discount rate: enter Rate%**	enter text
D - Compensation	$ enter text
E – TOTAL COMPENSATION, ROUNDED	$ enter text
*It is Department policy for the remaining years to not exceed 10 years unless approved by the Acquisition Manager. ** It is Department policy to use a discount rate that is equal to the 20-year Treasury Bill as of the effective date of the appraisal when estimating the present value (PV) payment for sign site leases. This rate provides consistency and reliability to all landowners.

To calculate using the HP12C	Example
Keystrokes:	A sign site has 2 years remaining on the lease with a 3-year renewal option (5 years total). Annual rent is $500, and the 20-year Treasury Bill is 3.98%.
HP12C Keystrokes
f CL	f FIN, f REG
A - CHS, PMT	500 CHS, PMT
B - n	5 n
C - i	3.98 i
D – Solve for PV	Solve of PV Payment for site $2,227.16 , rounded to $2250 per Section 3-1.40.2

Show calculations here for advanced or deferred payments, leasehold interests and/or any lessee rental advantage. Refer to Appendix A of the MDT Appraisal Manual for examples.
enter text

Note: There are no signature lines on this form because it is not a stand-alone form. This form should be attached to the land appraisal (Form 470, 455 or Narrative Appraisal) and the sign site values on this form should be carried into the reconciliation area of the land appraisal. Therefore, the sign site value concluded to in this form is approved by and through the approval of the land appraisal.