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Florida Eminent Domain Blog | Gregory W. Stoner
The Florida Eminent Domain Law Firm, PA
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Monday, December 29, 2008
Key Largo Land Buys Show Disparity between Estimated and Real Land Value
Monroe County, Florida officials went to Tallahassee last month to try and get some unbuildable Florida Keys land declared the nation's 59th national park. They say this is the only way to get the $1.2 billion necessary to purchase the land and protect it under the islands' strict environmental rules. The land is all classified as Tier 1 and Tier 2, meaning they have the most sensitive populations of plants and animals according to the county's classification system.
The estimate for the cost of the land comes from the realities the county faced in eminent domain proceedings. In 2002, they settled a longstanding case that involved a temporary taking of land from 1982 to 1990, when the county finally bought the land for $5.9 million. The settlement, for damages suffered by the landowner from the date of the taking until paid in 2002, including annually compounded interest, was $6 million, but the county knew it could pay over $40 million if the case went to trial.
In May of this year, the county was ordered by a jury to pay $5.5 million in full compensation for two parcels of land that state appraisers had only valued at a total of $115,000. The county had paid what it considered to be a generous $630,000 for both parcels, but the owners took the cases to court and won--big.
If a government agency uses eminent domain to take your land, don't take their word for the value, and don't take their first offer--no matter how generous it may seem--without first consulting with a Florida eminent domain lawyer. If you are being threatened with a taking, schedule a free eminent domain consultation with the Florida Property Rights Law Firm, PA.
The estimate for the cost of the land comes from the realities the county faced in eminent domain proceedings. In 2002, they settled a longstanding case that involved a temporary taking of land from 1982 to 1990, when the county finally bought the land for $5.9 million. The settlement, for damages suffered by the landowner from the date of the taking until paid in 2002, including annually compounded interest, was $6 million, but the county knew it could pay over $40 million if the case went to trial.
In May of this year, the county was ordered by a jury to pay $5.5 million in full compensation for two parcels of land that state appraisers had only valued at a total of $115,000. The county had paid what it considered to be a generous $630,000 for both parcels, but the owners took the cases to court and won--big.
If a government agency uses eminent domain to take your land, don't take their word for the value, and don't take their first offer--no matter how generous it may seem--without first consulting with a Florida eminent domain lawyer. If you are being threatened with a taking, schedule a free eminent domain consultation with the Florida Property Rights Law Firm, PA.
posted by PaulaB at 3:57 PM
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