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From page 12... ... 12 their property if it is higher than the property's fair market value."115 Commentators have argued that a valuation that is higher using the replacement value method should be used when a comparable sales valuation would be insufficient to permit an owner after the taking to buy comparable housing in the community.116 One writer argues that "replacement value could be paid either in-kind (i.e., by guaranteeing the expropriated owner similar property…) , or in cash (i.e., by paying compensation sufficient to allow the property owner to buy similar housing) Read the entire page →
From page 13... ... 13 Even though the courts have been consistent in finding that the comparable sales approach is usually the best evidence of market value, some courts have stated that they are not "wedded" to any particular formula or method to determine just compensation. Other courts have held that "the determination of what would be fair compensation in each case is not a matter of formulas or artificial rules; it is a matter for discretion and sound judgment based on the facts peculiar to each case."125 Related to the issue of avoiding manifest injustice in condemnation cases is the question of who should bear the economic burden that resulted from the financial crisis. Read the entire page →
From page 14... ... 14 tax."139 The tax would be "a fixed monetary amount that each institution would owe, to be paid over some specified period and subject to rules limiting the impact on net earnings."140 The foregoing articles do not resolve the issue of manifest injustice to institutions and property owners who had no role in the financial crisis and no control of the causes of their losses, including those incurred when properties were taken by eminent domain at a time of severely depressed property values. Read the entire page →

From page 12...

... 12 their property if it is higher than the property's fair market value."115 Commentators have argued that a valuation that is higher using the replacement value method should be used when a comparable sales valuation would be insufficient to permit an owner after the taking to buy comparable housing in the community.116 One writer argues that "replacement value could be paid either in-kind (i.e., by guaranteeing the expropriated owner similar property…) , or in cash (i.e., by paying compensation sufficient to allow the property owner to buy similar housing)

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From page 13...

... 13 Even though the courts have been consistent in finding that the comparable sales approach is usually the best evidence of market value, some courts have stated that they are not "wedded" to any particular formula or method to determine just compensation. Other courts have held that "the determination of what would be fair compensation in each case is not a matter of formulas or artificial rules; it is a matter for discretion and sound judgment based on the facts peculiar to each case."125 Related to the issue of avoiding manifest injustice in condemnation cases is the question of who should bear the economic burden that resulted from the financial crisis.

Read the entire page →

From page 14...

... 14 tax."139 The tax would be "a fixed monetary amount that each institution would owe, to be paid over some specified period and subject to rules limiting the impact on net earnings."140 The foregoing articles do not resolve the issue of manifest injustice to institutions and property owners who had no role in the financial crisis and no control of the causes of their losses, including those incurred when properties were taken by eminent domain at a time of severely depressed property values.

Read the entire page →

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