Wednesday, May 29, 2013

The Measure and Method for Determining Compensation for Eminent Domain Cases


In Florida you are entitled to full compensation for your property when it is taken through eminent domain. Our experienced eminent domain lawyers can help you establish your case to get every penny you deserve. Whether you live in Miami or St. Petersburg, we help clients just like you fight for just compensation throughout the state.

Fair value for your property is determined by what a willing buyer would pay a willing seller. Appraisers, engineers, economists and land use experts can be brought into negotiations if you do not agree with the government’s valuation of your land. Appraisers will generally look at the following to determine your property value:

  • Comparable sales in your area for similar properties
  • Income that your property is capable of producing
  • Cost of producing a similar building, less depreciation, in addition to the value of the lot

Property values are determined at the time the government attains title to your land or at the time of trial on the matter. This almost always means that whatever your property is worth on the day the government pays you its “good faith” estimate is the point in time that your property will be valued.

If you are facing an eminent domain proceeding, please contact Florida Property Rights Law Firm for help from an experienced eminent domain lawyer in Miami or throughout Florida. Call 800-914-8661 today for your free consultation. 

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