Quote:
Originally posted by Mmmm, Burger (C.J.)
BTW, I seem to recall reading an article years back suggesting that most times when compensation is paid, the payment is well above 100% of FMV, mainly to deter lawsuits. So statutes providing for more than just compensation really won't solve the problem.
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I'd be interested in the study. The takings I've seen have been undervalued, and I've heard town officials suggest that no matter what value they put on it, they'd be sued for more, so why not start as low as possible. Which means that you have to litigate a case to ultimately settle the matter for less than the full FMV (since it would cost even more to litigate to FMV).
What is needed is a penalty for undervaluing - if it's more than a 10% undervaluation, the town has to eat costs plus penalty.
