Land Use & Property Rights
What is happening? Property right advocates say that property owners should also be compensated for subjective value such as how long the property has been owned, ties to the community, emotional connections…the subjective value of the property.
Why is this important? The subjective ties are the same for all owners whether the property is a residence, small business or church.
How will this be important? The solution is a 10-15% add-on to the market value of the property to account for the subjective value.
Washington Times | Governments must pay owners more than ‘fair market value’ when seizing property
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