And conveniently they get to tell YOU what its value is. Million dollar property? Nah. Not according to THEIR records. Best they can do is $37k and a huge thank you.
No governments don’t get to cheap out on property values with eminent domain, it often happens that the value gets disputed and a court decides the value. And the governments often lose that battle.
It’s not just arbitrarily setting a number. There’s a valuation process of some form. This isn’t a new problem; if, for example, someone destroys something else, you need to have some way to determine the value of the thing that was destroyed.
And conveniently they get to tell YOU what its value is. Million dollar property? Nah. Not according to THEIR records. Best they can do is $37k and a huge thank you.
No governments don’t get to cheap out on property values with eminent domain, it often happens that the value gets disputed and a court decides the value. And the governments often lose that battle.
It’s not just arbitrarily setting a number. There’s a valuation process of some form. This isn’t a new problem; if, for example, someone destroys something else, you need to have some way to determine the value of the thing that was destroyed.