Monday, May 22, 2017

Land Valuation on CARP covered land

Be reminded that although the potential use of an expropriated property may be factored in, especially in instances where there is a significant improvement in the locality of the expropriated property, that factor, however, should not be the controlling component in the determination of just compensation. Otherwise, it will run afoul on the well-settled principle that the fair market value of an expropriated property is determined essentially by its character and its price at the time of the taking, not by its potential use.

No comments:

Post a Comment