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Old 06-29-2005, 06:00 PM   #1761
Replaced_Texan
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Quote:
Originally posted by Greedy,Greedy,Greedy
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.
I think this is why I'm so wary about emminent domain in general. (spree: news article about homes torn down to build new school and oops, there's a civil war era cemetary there, and no one bothered to find out before condeming the property)
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