As we’ve established in this series, the government can take private property for public use through eminent domain. However, while the Fifth Amendment of the U.S. Constitution guarantees property owners “just compensation,.” Article X, Sec. VI of Florida’,s Constitution and Florida law provide a a more robust standard of “Full Compensation.”
But what exactly constitutes “full compensation”? It’s more than just a simple calculation of your property’s fair market value. It’s full of nuance and complexity established over decades of Florida case law.
Fair Market Value: The Starting Point
Fair market value is the price a willing buyer would pay a willing seller in an open market. It’s typically determined through an appraisal, considering factors like the property’s size, location, condition, and recent comparable sales.
Beyond Fair Market Value
In addition to fair market value, you may be entitled to other types of compensation:
- Severance Damages: If the government takes only a portion of your property, you may be entitled to compensation for the reduced value of the remaining portion.
- Business Damages: If you own a business on the property being taken, you may be entitled to compensation for lost profits, relocation expenses, and the cost of re-establishing your business.
- Moving Expenses: You may be entitled to reimbursement for the reasonable costs of moving your personal belongings and business equipment.
Factors That Can Increase Your Compensation
Several factors can influence the amount of just compensation you receive:
- Unique features of your property: If your property has unique characteristics that add value, such as condition of improvements, historical significance, or specialized structures, you may be entitled to additional compensation.
- Highest and best use of your property: The government must compensate you based on the highest and best use of your property, even if you’re not currently using it for that purpose.
- Impact on future development: If the taking significantly disrupts your ability to utilize property to its highest potential, you may be entitled to additional compensation for the inconvenience and hardship.
How Brigham Property Rights Can Help:
At Brigham Property Rights, we have extensive experience negotiating full compensation for property owners facing condemnation through the government’s exercise of its power eminent domain power. We can help you:
- Obtain a comprehensive appraisal of your property.
- Identify all applicable types of compensation.
- Gather evidence to support your claim for maximum compensation.
- Negotiate effectively with the government or take your case to court if necessary.
Don’t settle for less than you deserve. Contact us today for a free consultation. We’re here to help you secure the full and fair measure of compensation you’re entitled to under the law.